Hyatt Hotels Corporation (H) recently unveiled a HYATT house branded property in Minot, ND, in association with Interstate Hotels & Resorts. The HYATT house brand includes upscale, contemporary-lifestyle accommodation targeted at business travelers. Christened HYATT house Minot, the new property will mark the debut of the Hyatt brand in the state.
Ideally situated at the North Hill, HYATT house Minot is near the Bakken Formation and in proximity to Minot State University and Minot International Airport. We expect the strategic position, wide range of amenities offered at the 130-room hotel and its contemporary ambience to create a strong guest base, going ahead.
Introduced in 2012, the company’s HYATT house brand was previously known as Hyatt Summerfield Suites and Hotel Sierra. It comprises small-to-mid sized residential-type contemporary hotels.
In April, HYATT house made its debut in Georgia with the opening of HYATT house Atlanta/Cobb Galleria in Atlanta. As a part of the Hyatt group, these properties get to reap the benefits of its much greater scale in the industry.
With improving economic conditions, the hotel industry seems to be gearing up in the U.S. With lower supply in the U.S., revenue per available room (RevPAR) is improving on strong demand and continued higher pricing.
In order to benefit from such lucrative opportunities, Hyatt is consistently making efforts to expand its coverage in the U.S. As of now, Hyatt owns as many as 387 properties exclusively in the U.S with nearly 54 unique HYATT house branded properties.
Several other hoteliers including Marriott International, Inc. (MAR) and Starwood Hotels & Resorts Worldwide Inc. (HOT) are also exploring growth opportunities in the U.S.
Hyatt currently carries a Zacks Rank #3 (Hold). Other player in the same industry, which look attractive at current levels, include Marriott Vacations Worldwide Corp. (VAC) a Zacks Rank #1 (Strong Buy).
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