Hyatt CEO Hints at More Deals to Come
Photo Credit: The newest addition to the Unbound Collection by Hyatt is the former Thompson Miami Beach, which Hyatt bought for $238 million. Hyatt Hotels Corporation / Chris Sanders
Skift Take
For profitable hotel companies like Hyatt, it's both a buyer's and seller's market right now.
Chicago-based Hyatt Hotel Corp. may not have succeeded last year in reportedly attempting to acquire Starwood Hotels & Resorts, but if the company's first quarter 2016 earnings call was any indication, it's clear the company is eager to both sell and buy new properties and perhaps, brands, going forward.
During the conference call, CEO Mark Hoplamazian and new CFO Patrick J. Grismer both dropped hints about Hyatt's future plans for buying and selling, without delving into too many details.
Their statements, however, point to future growth strategies for a company that, unlike its competitors, is not pursuing an asset-light strategy, and is more interested in what Hoplamazian has described as "asset recyling" while, at the same time being more focused on high-end travelers than chasing scale for scale's sake.
In his prepared
