Hyatt (H) strengthens Ziva portfolio with new hotel in Mexico – September 23, 2021
In order to strengthen its Ziva portfolio across Mexico, Hyatt Hotels Corporation (H – Free report), in collaboration with Playa Hotels & Resorts (PLYA – Free Report), recently announced the opening of the Hyatt Ziva Riviera Cancun. The property will be operated by Playa Hotels & Resorts.
Situated between the crystal-clear waters of the Caribbean Sea and the Bahia Petempich lagoon, the 438-room resort features a dramatic ambiance, vibrant cuisine, local culture, and state-of-the-art amenities. The resort features luxurious suites, spa-style bathrooms, hot tubs, turndown service, and high-tech entertainment offerings. It also has a restaurant, bar, lounges, swimming pools and a fitness center. The resort has 51,000 square feet of total function space, which includes meeting and event spaces as well as dining options.
Regarding the opening, Frank Lavey, Senior Vice President of Global Operations, Hyatt, said, “We are delighted that Hyatt Ziva Riviera Cancun is welcoming guests and World of Hyatt members to experience the Hyatt Ziva brand at the hotel. Mexico, a key leisure destination this year. This addition to the Hyatt Ziva portfolio offers a sophisticated, multigenerational stay in the exciting Riviera Cancun area.
Auspicious improved demand
As the economy opens up, signs of improvement can be seen in the United States and mainland China. The benefit can mainly be attributed to increased transient demand for recreation, widespread availability of vaccines, and reduced travel restrictions. In the second quarter of 2021, RevPAR in the regions reached 80% of pre-pandemic levels. Notable markets that have contributed to the increase in RevPAR are Europe, South East Asia and the Middle East. The company has seen a takeover of its properties in Mexico and parts of the Caribbean year over year. Going forward, he expects the momentum to continue, subject to successful rollouts of the vaccination as well as leniency of travel restrictions.
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In the past year, shares of Hyatt have gained 43.8% from the industry’s 36.1% growth.
Zacks rank and choice of keys
Hyatt currently wears a Zacks Rank # 3 (Hold). You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.
Some top-ranked stocks in Zacks’ consumer discretionary sector are Crocs, Inc. (CROX – Free report) and Civeo Corporation (CVEO – Free report). Crocs sports a Zacks Rank # 1, while Civeo sports a Zacks Rank # 2 (Buy).
Crocs’ profits in 2021 are expected to increase 114%.
Civeo Corporation shows a growth rate of earnings per share of 10% over three years.