Yahoo Finance Hyatt (H) Boosts Ziva Portfolio With New Hotel in Mexico
In a bid to strengthen its Ziva portfolio across Mexico, Hyatt Hotels Corporation H, in collaboration with Playa Hotels & Resorts PLYA, recently announced the opening of Hyatt Ziva Riviera Cancun. The property will be operated by Playa Hotels & Resorts.
Located between the crystalline waters of the Caribbean Sea and the lagoon of Bahia Petempich, the 438-room resort showcases dramatic ambiance, vibrant cuisine, local culture, and state-of-the-art amenities. The resort comprises luxurious suites, spa-like bathrooms, hot tubs, turndown service and high-tech entertainment offerings. It also comes with a restaurant, a bar, lounges, swimming pools and a fitness centre. The resort features 51,000 square feet of total function space, which includes meeting and event spaces as well as dining options.
With respect to the opening, Frank Lavey, senior vice president of Global Operations, Hyatt, stated, “We’re thrilled that Hyatt Ziva Riviera Cancun is welcoming guests and World of Hyatt members to experience the Hyatt Ziva brand in Mexico, a key leisure destination this year. This addition to the Hyatt Ziva portfolio offers a sophisticated, multi-generational stay in the exciting Riviera Cancun region.”
Improved Demand Bodes Well
As the economy is opening up, signs of improvement can be witnessed in the United States and Mainland China. The upside can be primarily attributed to rise in leisure transient demand, widespread vaccine availability and reduced travel restrictions. During second-quarter 2021, RevPAR in the regions came in at 80% of the pre-pandemic levels. Notable markets that contributed to increased RevPAR include the Europe, Southeast Asia and the Middle East. The company witnessed recovery in properties in Mexico and certain parts of the Caribbean on a year-over-year basis. Going forward, it expects the momentum to continue, subject to successful vaccination rollouts as well as leniency in travel restrictions.
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In the past year, shares of Hyatt have gained 43.8% compared with the industry’s 36.1% growth.
Zacks Rank & Key Picks
Hyatt currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Zacks Consumer Discretionary sector are Crocs, Inc. CROX and Civeo Corporation CVEO. Crocs sports a Zacks Rank #1, while Civeo carries a Zacks Rank #2 (Buy).
Crocs’ 2021 earnings are expected to surge 114%.
Civeo Corporation has a three-five year earnings per share growth rate of 10%.
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Hyatt Hotels Corporation (H) : Free Stock Analysis Report
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Playa Hotels & Resorts N.V. (PLYA) : Free Stock Analysis Report
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