Hyatt (H) on Expansion Spree, Unveils Properties in Lenox
Hyatt Hotels Corporation H recently announced the opening of a destination Hotel — Wyndhurst Manor & Club. The company also announced the opening of Miraval Berkshires. Miraval is a leading wellness resorts and spa brand. Covering a total area of 380 acres, both the venues are located in the same property in Lenox, MA.
Inspired by the history and culture of the Berkshires, Wyndhurst Manor & Club comes with 11 elegant suites and 35 guestrooms comprising a dining room, bar, music room, glass-walled sunroom with white-washed brick walls, and private board room with a vaulted ceiling and inglenook fireplace. With 8,000 square feet of banquet space, it offers a perfect backdrop for cultural gatherings and academic meetings.
Given that Wyndhurst and Miraval Berkshires are in close proximity, guests are provided access to a common 18-hole golf course.
Meanwhile, with 29,000 square feet and 28 treatment rooms, Miraval Berkshires’ Life in Balance Spa is the largest in its Miraval portfolio. It also offers culinary workshops and wellness programs like Falcon and Meadowview Challenge Course. Moreover, it offers access to Miraval Berkshires’ onsite farm, Meadowview Stables horse ranch, fitness studio, indoor/outdoor lounge pool, men’s and women’s relaxation rooms, salon, sauna, steam room and spa retail boutique.
In relation to this, Susan Santiago, Head of Lifestyle & Miraval Operations, stated, “We are thrilled with the Miraval brand’s expansion to the East Coast with Miraval Berkshires and to welcome Wyndhurst Manor & Club to the Destinations Hotels family.”
So far this year, shares of the company have plummeted 39.7% compared with the industry’s decline of 30.3%.
Expansion Initiatives to Drive Growth
Hyatt has been consistently trying to expand presence worldwide in order to gain market share in the hospitality industry.
Recently, Hyatt announced that it is planning to open two new properties — Thompson Savannah and Thompson Buckhead — in an effort to expand the Thompson Hotels brand. Both the properties are expected to open in Georgia in 2021. The company also intends to expand its Alila Brand in Americas during the same time frame. The company is also looking to expand its brand in international markets.
Zacks Rank & Key Picks
Hyatt currently carries a Zacks Rank #4 (Sell).
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