Hyatt Hotels Corporation H recently announced the opening of Hyatt Regency Naha, Okinawa in collaboration with Ken Corporation and Ken Real Estate Lease, Ltd. This is the debut of the Hyatt brand on the Japanese island of Okinawa.
The hotel is located between Naha’s main street of Kokusai Dori and Tsuboya Yachimun Dori, a historical street lined with traditional pottery workshops. The hotel is also at a convenient distance from the Naha Airport, and the main tourism and entertainment district, Kokusai-dori. This will attract both business and leisure travelers.
The 294-room hotel has four restaurants and bars, along with a state-of-the-art meeting space. Additionally, the hotel features a fitness centre and an outdoor swimming pool.
Hyatt’s decision to open a premium hotel in Japan is justified as the demand for such hotels has risen in the international markets of late with the gradual improvement in the economy. In the current economic cycle, hotels in the premier categories have recovered occupancy levels more quickly and are now witnessing better Average Daily Rate (“ADR”). In particular, luxury hotels and upper upscale hotels are anticipated to benefit from a gradual recovery in group activity and record higher occupancy rates.
Hyatt currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Marriott Vacations Worldwide Corp. VAC, China Lodging Group, Limited HTHT and Intrawest Resorts Holdings, Inc. SNOW. While China Lodging and Intrawest Resort sport a Zacks Rank #1 (Strong Buy), Marriott Vacations carries a Zacks Rank #2 (Buy).
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