US hotel group Hyatt Hotels is on a mission to deepen its footprint in Germany, according to Peter Norman, senior vice-president of acquisitions and development for the EMEA region.
US hotel group Hyatt Hotels is on a mission to deepen its footprint in Germany, according to Peter Norman, senior vice-president of acquisitions and development for the EMEA region.
‘We’re already well-represented in Germany but we still don’t have a presence in Munich or Frankfurt, which we are now trying to address,’ he said.
However, Hyatt is prepared to wait for the right opportunities rather than simply barging into these markets, Norman stressed. ‘We can be a bit more fusssy; development has to be sustainable.’ The group is interested in both primary and secondary markets across Germany.
In addition to Germany, the UK and France are important investment markets for the group. Hyatt Group, which is headquarted in Chicago, boosted its French portfolio in February when it signed management agreements with affiliates of Constellation Hotels to manage four hotels in France, more than doubling the number of Hyatt locations there. As part of the deal, Hyatt now manages the iconic Hotel Martinez in Cannes and the Hotel du Louvre in Paris.
Hyatt Hotels manages around 524 properties worldwide in 45 countries.
