Hyatt Hotels plans to increase porfolio

The Hyatt Hotels Corporation is eager to add to its portfolio of 415 properties worldwide, either by buying hotels, signing management deals or by acquiring another brand.

At an opening party for the 253-bedroom Andaz Wall Street - Hyatt’s second hotel in New York - the group’s chief executive officer Mark Hoplamazian told The Wall Street Journal that the company wants to increase its presence in the world’s top cities in order to compete better with rival hotel companies.

“We do believe there will be opportunities to acquire properties or maybe even a brand at some point,” he said.  “In terms of our (acquisition) outlook, it’s going to depend on what’s out there in the market.”

Hyatt, which manages, franchises and owns seven hotel brands around the world, currently operates three hotels in the UK.  They are the Andaz Liverpool Street, London EC2, Hyatt Regency Birmingham and Hyatt Regency London – The Churchill.

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By Janet Harmer

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