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HYATT HOTELS CORPORATION plans to expand its brand portfolio in India and Southwest Asia, with eight new hotels set to open across various leisure and city destinations in 2024. The expansion will focus on Hyatt Regency, Hyatt Place and Hyatt Centric brands and is timed to coincide with an expected rebound of travel in the country and sub-continent, Hyatt said in a statement. "Southwest Asia continues to demonstrate high growth potential and is among the top global growth markets for Hyatt, said Sunjae Sharma, Hyatt's managing director for India and Southwest Asia. "We have strong expansion plans for 2024 across our portfolio encompassing our legacy brands like Hyatt Regency, Hyatt Place and Hyatt Centric across destinations that will strengthen our brand presence in key markets. This expansion represents our strong commitment and confidence in the Southwest Asia region." Hyatt is also expanding its luxury and lifestyle brands in India, including the recent launch of JdV by Hyatt with the opening of Ronil Goa, the statement said. JdV by Hyatt is the ninth brand introduced by Hyatt in India, reaffirming its commitment to expanding its presence in the country.

HYATT HOTELS CORPORATION has signed franchise agreements with 3H Group and Presidio Hotel Development to open Hyatt Studios in two states. Led by founder Hiren Desai, 3H Group will introduce the studios in Mobile, Alabama, while Guneet Bajwa heads the effort for Presidio Hotel Development in Marysville, California, and both are expected to open by late 2024 to 2025. Following its April launch, Hyatt has garnered letters of interest for more than 100 Hyatt Studios, marking its inaugural upper-midscale extended-stay brand in the Americas, the company said in a statement. "Hyatt's expansion into these new markets through Hyatt Studios hotels underscores our dedication to developers, guests, and World of Hyatt members," said Dan Hansen, global head of Hyatt Studios. "We've learned that when Hyatt guests stay with a competing brand, they appear to do so for one of two reasons: the absence of a Hyatt hotel within five miles or the choice to stay at a lower chain scale. By offering Hyatt options in these fresh markets, we foster brand loyalty without internal competition and present developers with untapped opportunities."

HYATT HOTELS CORP. reported an almost 85 percent growth in its global pipeline since 2017, reaching a record of 129,000 rooms. During this period, the company doubled its luxury rooms, tripled its resort rooms, and quintupled its lifestyle rooms. Pictured is a rendering of the New Andaz Miami Beach in Miami Beach, Florida. The company is expanding its brand portfolio both nationally and globally, selecting new and existing markets to enhance its network effect for owners and guests, Hyatt said in a statement. "Hyatt leading the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, Hyatt's president and chief executive officer. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners."

HYATT HOTELS CORP. reported strong early 2024 performance, with RevPAR and revenue growth, fueled by pipeline expansion driving its core hotel business and global franchise network. Systemwide RevPAR surged by 5.5 percent compared to 2023, while all-inclusive resorts net package RevPAR soared by 11 percent. Meanwhile, U.S. RevPAR increased by approximately 2 percent, excluding the Easter impact, indicating normalized growth. Net rooms grew by about 5.5 percent, with net income at $522 million and adjusted net income at $75 million, Hyatt said in a statement. Adjusted EBITDA stood at $252 million, dropping by 9 percent compared to Q1 2023, mainly due to the Super Bowl in Phoenix, increased real estate taxes, higher wages, and transaction costs from ongoing asset sales.

NOBLE INVESTMENT GROUP recently acquired the Courtyard by Marriott and the dual-brand Hyatt House & Hyatt Place in Fishers, Indianapolis. The newly built hotels are in the Fishers District, a 150-acre development with dining, retail and entertainment venues, Noble said in a statement. Noble is led by Mit Shah, senior managing principal and CEO. "Noble is excited to add these new, high-yielding hotels with in-place cash flows to our growing portfolio and capitalize on the region's continued economic expansion," said Ben Brunt, managing principal and chief investment officer at Noble. Fishers is a rapidly expanding market near Indianapolis, known for strong economic growth and a business-friendly environment, the statement said. The area has seen more than $2 billion in new development recently, with more investments expected in the coming years. In August, Noble acquired the Courtyard Jacksonville Beach Oceanfront, which includes 150 guestrooms, two F&B outlets, 2,450 square feet of meeting space, a pool, a hot tub, a fitness center, and a convenience store.