Hyatt breaks hotel traditions
July 28, 2010 |
Hyatt has been changing during the hotel industry's biggest downturn since the Great Depression, which has hammered upscale hotels particularly hard. The company has started to show success, reporting increases in occupancy during the first quarter.
Hyatt CEO Mark Hoplamazian (Hop-la-MAY-zee-an) says the company plans to build on its existing chains, whether older (such as upscale Hyatt Regency, upscale Grand Hyatt and the most prestigious, Park Hyatt), or newer ones such as Hyatt Place, Andaz and the upscale, extended-stay chain, Hyatt Summerfield Suites. But Hyatt is also open to growing by other means.
"We've had a long history of home-growing our brands, but it doesn't mean that we wouldn't acquire a new one," he says.
The company has made major announcements during the downturn, such as plans to build the first Hyatt Place hotels in Latin America and expand luxury Andaz (about $300 a night and up) into cities such as Austin, Amsterdam and Delhi, India. It's also re-opening the Hyatt Regency New Orleans
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