Hyatt Enhances Global Hotel Portfolio With Oracle OPERA Cloud
Hyatt Hotels Corporation H selected Oracle OPERA Cloud as the property management system for its global operations. The platform will help standardize operations and manage data across more than 1,000 hotels and all-inclusive resorts.
This move reflects Hyatt's efforts to enhance efficiency by centralizing its processes on a secure cloud-based system. Built on Oracle Cloud Infrastructure, OPERA Cloud will allow Hyatt to streamline data management across its global properties. The system offers insights for better planning and delivers personalized guest experiences. With mobile access, Hyatt colleagues can assist guests from any location, which will improve overall service and operational consistency.
Hyatt will enhance its operations by using the Oracle Hospitality Integration Platform (OHIP). This platform enables properties to access more than 1,000 pre-integrated services, allowing quick customization and innovation. With Oracle's cloud, H can better adapt to the unique needs of its guests and properties across different markets.
H’s shares rose 2.4% during the trading session and 1.1% in the after-hours trading session on Sep. 17, 2024.
Hyatt’s YTD Price Performance
Shares of the company have gained 13.8% in the year-to-date period compared with the Zacks Hotels and Motels industry’s 9.1% growth. The company is benefiting from a gradual increase in demand, new hotel openings and acquisition initiatives. Also, consistent focus on an asset-light model initiative and strategic partnerships bode well.
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The company continues to expand its global footprint, contributing to its growth strategy. In second-quarter 2024, it added 18 new hotels, which included more than 3,200 rooms, marking a 4.6% increase in net room growth. H anticipates net room growth to increase in the range of 5.5-6% year over year in 2024.
The company reported steady improvements in business transient revenues in second-quarter 2024. It remains optimistic due to strong group bookings, confidence in the recovery of business transient demand and steady leisure transient demand levels. It anticipates group and business transient revenue growth to exceed leisure transient revenues in the second half of the year.
Zacks Rank & Key Picks
Hyatt currently carries a Zacks Rank #3 (Hold).
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