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Hyatt Boosts Brand Presence With New Hyatt Centric Hotel in CA
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Hyatt Hotels Corporation (H - Free Report) expands its business in California yet again with the opening of Hyatt Centric Delfina Santa Monica, making it the 101st Hyatt hotel in the state. This is also the Hyatt Centric lifestyle brand’s sixth hotel in the Golden State.
The H stock inched down 0.1% during the trading hours but gained 1.2% in the after-hours on Wednesday, following the announcement.
Perks of Hyatt’s New Property
The Hyatt Centric Delfina Santa Monica will offer travelers the best of coastal Los Angeles. Situated at LA’s most iconic beach destination, the nearest attractions include the renowned Santa Monica Pier, Third Street Promenade, Venice Beach Boardwalk and retail district.
The Delfina Santa Monica property is included in Hyatt’s top-tier World of Hyatt loyalty program. The loyalty program members will now have the opportunity to earn and redeem points on their stay at the property to use on free nights, dining, well-being experiences and much more.
Furthermore, to celebrate the addition of Hyatt Centric Delfina Santa Monica to Hyatt’s portfolio, the new property will offer guests 15% off on a minimum of one qualifying night stay between Sep. 18, 2024, to Oct. 31, 2025. The World of Hyatt members will receive a 17% discount for the reservations booked from Aug. 26, 2024 – Oct. 31, 2024.
Further Refurbishments on H’s Delfina Santa Monica
Hyatt has planned for a $16 million refurbishment of the new Hyatt Centric property to bring a brand new and modern touch to the 315 well-appointed and stylish guest rooms. The enhancement will also focus on almost the entire property including the dining area, meeting space, the lobby and the roof-top ballroom offering panoramic ocean views.
The refurbishment is expected to begin in 2024 fall, with a carefully phased approach to avoid interference with the hotel’s daily operations.
Hotel Openings Bode Well for Hyatt
Hyatt continues to expand its presence globally to drive growth. During the second quarter of 2024, the company added 18 new hotels (or 3,251 rooms) to its portfolio. Its growth pipeline continues to drive the expansion of its global portfolio, achieving net room growth of 4.6% during the second quarter. Recent openings have strengthened its brand equity and opened new markets for guests and members.
Notable openings included the Park Hyatt Changsha, which marked the 20th Park Hyatt in Greater China and the Hyatt Vivid Grand Island in Cancun, the company’s first Hyatt Vivid all-inclusive property. It opened the first Caption by Hyatt properties outside the United States in Shanghai and Osaka. The company also introduced the Legend Resort Paracas on Peru’s southern coast, marking its first Destination by Hyatt property in the country. As of June 30, 2024, Hyatt had a pipeline of executed management or franchise contracts for approximately 670 hotels (or about 130,000 rooms).
Image Source: Zacks Investment Research
H shares have gained 13.7% in the year-to-date period, outperforming the Zacks Hotels and Motels industry’s 9.9% growth. For the remaining part of 2024, the company expects robust portfolio expansion, propelled by organic growth and conversion opportunities. Hyatt anticipates year-over-year net room growth of 5.5-6% for 2024.
TILE has a trailing four-quarter earnings surprise of 65%, on average. The stock has surged 91.5% in the past year. The Zacks Consensus Estimate for TILE’s 2024 sales and earnings per share (EPS) indicates growth of 3.9% and 28%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. (DDI - Free Report) presently flaunts a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has increased 50.6% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) currently sports a Zacks Rank of 1. NCLH has a trailing four-quarter earnings surprise of 5.7%, on average. The stock has gained 15.5% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates an increase of 9.8% and 125.7%, respectively, from the year-ago levels.
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Hyatt Boosts Brand Presence With New Hyatt Centric Hotel in CA
Hyatt Hotels Corporation (H - Free Report) expands its business in California yet again with the opening of Hyatt Centric Delfina Santa Monica, making it the 101st Hyatt hotel in the state. This is also the Hyatt Centric lifestyle brand’s sixth hotel in the Golden State.
The H stock inched down 0.1% during the trading hours but gained 1.2% in the after-hours on Wednesday, following the announcement.
Perks of Hyatt’s New Property
The Hyatt Centric Delfina Santa Monica will offer travelers the best of coastal Los Angeles. Situated at LA’s most iconic beach destination, the nearest attractions include the renowned Santa Monica Pier, Third Street Promenade, Venice Beach Boardwalk and retail district.
The Delfina Santa Monica property is included in Hyatt’s top-tier World of Hyatt loyalty program. The loyalty program members will now have the opportunity to earn and redeem points on their stay at the property to use on free nights, dining, well-being experiences and much more.
Furthermore, to celebrate the addition of Hyatt Centric Delfina Santa Monica to Hyatt’s portfolio, the new property will offer guests 15% off on a minimum of one qualifying night stay between Sep. 18, 2024, to Oct. 31, 2025. The World of Hyatt members will receive a 17% discount for the reservations booked from Aug. 26, 2024 – Oct. 31, 2024.
Further Refurbishments on H’s Delfina Santa Monica
Hyatt has planned for a $16 million refurbishment of the new Hyatt Centric property to bring a brand new and modern touch to the 315 well-appointed and stylish guest rooms. The enhancement will also focus on almost the entire property including the dining area, meeting space, the lobby and the roof-top ballroom offering panoramic ocean views.
The refurbishment is expected to begin in 2024 fall, with a carefully phased approach to avoid interference with the hotel’s daily operations.
Hotel Openings Bode Well for Hyatt
Hyatt continues to expand its presence globally to drive growth. During the second quarter of 2024, the company added 18 new hotels (or 3,251 rooms) to its portfolio. Its growth pipeline continues to drive the expansion of its global portfolio, achieving net room growth of 4.6% during the second quarter. Recent openings have strengthened its brand equity and opened new markets for guests and members.
Notable openings included the Park Hyatt Changsha, which marked the 20th Park Hyatt in Greater China and the Hyatt Vivid Grand Island in Cancun, the company’s first Hyatt Vivid all-inclusive property. It opened the first Caption by Hyatt properties outside the United States in Shanghai and Osaka. The company also introduced the Legend Resort Paracas on Peru’s southern coast, marking its first Destination by Hyatt property in the country. As of June 30, 2024, Hyatt had a pipeline of executed management or franchise contracts for approximately 670 hotels (or about 130,000 rooms).
Image Source: Zacks Investment Research
H shares have gained 13.7% in the year-to-date period, outperforming the Zacks Hotels and Motels industry’s 9.9% growth. For the remaining part of 2024, the company expects robust portfolio expansion, propelled by organic growth and conversion opportunities. Hyatt anticipates year-over-year net room growth of 5.5-6% for 2024.
H’s Zacks Rank & Key Picks
Hyatt currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Consumer Discretionary sector.
Interface, Inc. (TILE - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TILE has a trailing four-quarter earnings surprise of 65%, on average. The stock has surged 91.5% in the past year. The Zacks Consensus Estimate for TILE’s 2024 sales and earnings per share (EPS) indicates growth of 3.9% and 28%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. (DDI - Free Report) presently flaunts a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has increased 50.6% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) currently sports a Zacks Rank of 1. NCLH has a trailing four-quarter earnings surprise of 5.7%, on average. The stock has gained 15.5% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates an increase of 9.8% and 125.7%, respectively, from the year-ago levels.