Leading hotelier, Hyatt Hotels Corporation ( H ) recently announced the expansion of its hotel portfolio in Europe and China under the Hyatt Place brand. It has inked an agreement with Jersan LLC - a company that develops and owns hotels and engages in tourism activities - to develop a Hyatt Place hotel in Jermuk, Armenia which is well known for its natural beauty and cultural heritage sites. The company also announced the opening of another Hyatt Place hotel in the Dongmen district of Shenzhen.
Set to open in 2015, Hyatt Place Jermuk will be the second Hyatt branded hotel in Armenia after the recently opened Hyatt Place Yerevan. Located at the center of the Jermuk resort, this hotel features 88 rooms, a restaurant, a pool, a fitness center and a meeting space spread over an area of 1,800 square feet.
Jermuk Resort is a mountain resort town popular for its thermal water spas. It is currently being redeveloped by the Armenian government. Located close to the Armenian capital, Yerevan, Jermuk plays host to various international chess events. The hotel's convenient and strategic location justifies the company decision to consider this region again.
The other Hyatt Place hotel located in the heart of Shenzhen Dongmen will mark the entry of the brand in China. This hotel is located in close proximity to the shopping area and other key destinations of the city. The hotel features 144 rooms, a bar, a fitness center and a meeting space. The convenient location accompanied with modern amenities is expected to draw traffic.
Hyatt Hotels is consistently trying to expand its global presence. The company has its hotels worldwide including locations in China, India, Latin America, Europe, the Middle East, and the United States. Recently, the company inked an agreement with Badriah Investments B.V. to develop a hotel in Baden-Baden, Southwestern Germany.
Hyatt currently carries a Zacks Rank #3 (Hold). Better-performing stocks in the hotel industry include Intercontinental Hotels Group plc ( IHG ), Marriott Vacations Worldwide Corp. ( VAC ) and Wyndham Worldwide Corporation ( WYN ). All these stocks carry a Zacks Rank #2 (Buy).