Hyatt Hotels Aims at a Big European Expansion
Hyatt Hotels (NYSE: H) is planning for a major expansion of its hotels in Europe, with more than 20 new hotels planned for popular destinations across the continent. The new openings, which will include both franchises and locations operated directly by Hyatt, will bring the total of the company's hotels in Europe from 63 to somewhere in excess of 83, representing at least a 31.7% expansion.
Peter Norman, senior vice president of acquisitions and development, said the new hotels will be "in some of the most sought-after leisure destinations in the world," which will include multiple locations in England, plus Helsinki, Stockholm, Cyprus, and Malta. New hotels will be added in London and Cambridge the U.K., which is described as "a priority growth market." France and Spain are also part of the location growth strategy. The most recent phase of expansion should be complete by 2023.
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Source Fool.com
