www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Long-term view fuels Hyatt's success

By Wang Zhuoqiong (China Daily) Updated: 2012-06-28 10:18

Long-term view fuels Hyatt's success

Grand Hyatt Beijing on Chang'an Avenue. Chicago-based Hyatt Hotels Corp currently operates 19 properties in China under the brands of Park Hyatt, Andaz, Grand Hyatt and Hyatt Regency. [Photo/China Daily] 

Since becoming head of Hyatt in 2006, Hoplamazian has turned in what many regard as a sizzling performance.

He took the company public in 2009. A year later, Global Hospitality Services - a leading hotel consulting and services organization - credited his leadership with lifting the stock price 39 percent and growing earnings before income tax, depreciation and amortization - a key performance and compensation measure - by 143 percent from the year before.

Having served as an adviser to various Pritzker family-owned companies including Hyatt Hotels Corp, he said it was a wonderful opportunity to oversee many businesses.

"(The experience) provided a great perspective," he said.

But in his first year as the head of Hyatt in 2006, he recognized that he didn't know the business very well. He then spent a full year learning it.

"In my view, it is the best thing I could have done," he said.

"With fresh eyes, I asked a lot of questions. I learned a lot while others learned with me. That inquiry in coming into the company that way made a difference."

Chinese market

China remains central to Hyatt's global growth strategy, Hoplamazian said. The group's Asia-Pacific results were driven by strength in China, according to its annual report for 2011.

With a booming demand and a relatively limited supply, China is at a wonderful stage of development, Hoplamazian said.

Compared with the mature market in the United States, he said a forward-looking mindset should be adopted in China.

"In China, you look at the evolution of the local economy and what kind of business and leisure travel you can expect from that," he said.

Take the city of Chengdu, in Sichuan province, as an example. Work started on building some hotels five years ago when the market probably would not have supported it. By the time they were open, the economy had accelerated so much these hotels became a success, he said.

A long-term perspective helps a hotel management make wise decisions, said Hoplamazian.

He said building a hotel which stands for decades requires long-term vision. "What happens next year, or in a very short period of time, if one makes a decision based on that - it is not wise to do that in our business," he said.

In the robust hospitality market in China, it is a challenge for a hotelier not to be excited about the opportunities. But Hoplamazian takes a more careful approach.

"We don't jump on any property or opportunities that are thrown to us," he said. "We take time to think about how we can best represent our brand."

A full assessment in new development is also critical. At the beginning of a project, Hyatt analyzes every single hotel transaction to ensure the hotel itself will be a success commercially and financially over time.

Understanding local partners also consolidates their presence in a foreign market.

"It is a marriage, not a trade," said Hoplamazian. "We and our partners will be together for decades. You don't do every deal presented to you. We take a very careful approach to make sure of its success."

Expansion plan

With the support of local partners, the US hotelier has expanded to many second- and third-tier cities, a major driver of the company's growth in China. They include Changbaishan in Jilin province and Hangzhou in Zhejiang province.

"I don't think they are second- and third-tier cites," Hoplamazian said. "From my perspective, they are big, vibrant cities, with significant economic activity and large populations. They are really great opportunities."

Hotel brands with selected services - namely Hyatt Place and Hyatt House hotels - are on the top of the agenda in Hyatt's blueprint for China over the next several decades, said the president.

The group has two Hyatt Places and one Hyatt House being built in Shanghai.

"We will build an increasing number of Hyatt Places and Hyatt Houses," said Hoplamazian. "This is the biggest growth area for us in the next 10 to 20 years. This trend is very clear."

The rise of China's middle class and affluent families is the reason why Hyatt chose to expand hotels with selected services.

After rapid development in 2010, high-end hotels, which have increased in number to more than 600, are close to saturation point, according to a development report on China's hotel industry.

The next step for high-end brands is not growing in number but in specialized services, the report said. The rise of the middle class will create demand for medium-end hotels.

"The number of markets we can serve with these brands is significantly larger than the market we can serve with our full service brands," said Hoplamazian. "The cost of building them is lower."

wangzhuoqiong@chinadaily.com.cn

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久久久亚洲视频 | 久久久久久一级毛片免费野外 | 国产成人小视频 | 九色视频在线观看免费 | 欧美日韩国产一区三区 | 欧美一级在线观看视频 | 久久国产精品免费观看 | 亚洲伊人久久综合影院2021 | 亚洲清纯自偷自拍另类专区 | 国内精品美女写真视频 | 亚洲欧美视频一级 | 色吊丝在线观看国产 | 酒色成人 | 99精品视频免费观看 | 久久久国产精品免费视频 | 久久久国产亚洲精品 | 成年人免费观看的视频 | 日本阿v视频在线观看高清 日本波多野结衣视频 | 欧美a在线看 | 亚洲一区二区三区在线视频 | 亚洲一区国产 | 久久视奸| 国产精品黄网站免费进入 | 亚洲国产高清在线 | 一级淫片免费视频 | 性欧美欧美巨大69 | 国产一级毛片亚洲久留木玲 | 一级一片免费看 | 在线免费看一级片 | 欧美久久久久欧美一区 | 男人操美女 | 精品国产免费第一区二区三区日韩 | 草草影院ccyy| 丝袜毛片 | 国产三级a三级三级三级 | 日产国产精品久久久久久 | 日韩午夜精品 | 国产精品亚洲欧美日韩久久 | 亚洲国产激情在线一区 | 国产一级真人毛爱做毛片 | 亚洲国产精品久久久久久网站 |