Chicago-based Hyatt Hotels Corporation is looking to beef up its presence in growing markets, such as Russia and Brazil, following the major acquisition of a portfolio of four hotels in France.
Chicago-based Hyatt Hotels Corporation is looking to beef up its presence in growing markets, such as Russia and Brazil, following the major acquisition of a portfolio of four hotels in France.
The French portfolio included the iconic Martinez hotel in Cannes.
Now, Hyatt is turning its attention to rapidly growing markets such as Russia, India and Brazil, according to Peter Fulton, group president of EAME/Southwest Asia at Hyatt, based in Zurich
'Overall, we’re interested in building our footprint in key gateway cities - such as London, Paris, Berlin and Milan - that our guests are visiting more and more. Expansion comes in the form of both management contracts and actually acquiring hotels,' he told PropertyEU.
Hyatt currently has 175 deals in the pipeline, of which it hopes to close around 20% this year and the majority of the rest over the next 24 months, Fulton said. Of these projects, 75% are outside North America, 50% are located in China and India, with others in markets such as Brazil and Argentina.
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