Hyatt And Parks Hospitality Holdings Collaborate On Thoughtful Growth In Mexico With New Hotels Slated To Open In 2024 and Beyond
Portfolio Pulse from Benzinga Newsdesk
Hyatt Hotels Corporation (NYSE:H) and Parks Hospitality Holdings (PHH) have announced a collaboration to expand Hyatt's brand footprint in Mexico with the development of four new properties across key destinations, including Mexico City, Los Cabos, and Cancun. The new properties are expected to open starting 2024 and will include two Grand Hyatt hotels, a new select-service offering near the Cancun International Airport, and the debut of the Park Hyatt brand in Cancun. The collaboration reflects a strong development pipeline driven by sustained demand for leisure and luxury travel.
November 06, 2023 | 3:02 pm
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Hyatt's collaboration with PHH to develop four new properties in Mexico is expected to expand its brand footprint and cater to the sustained demand for leisure and luxury travel. This could potentially boost Hyatt's revenues and profitability in the long run.
The collaboration with PHH allows Hyatt to expand its presence in Mexico, a popular tourist destination. The new properties, which include two Grand Hyatt hotels and the debut of the Park Hyatt brand in Cancun, are expected to cater to the sustained demand for leisure and luxury travel. This could potentially increase Hyatt's customer base, boost its revenues, and enhance its profitability in the long run.
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