Products & Services by Hyatt

Hyatt has been in the hospitality sector for more than 60 years and it deals in:

• Resorts
• Luxurious Hotels
• Vacation packages
• Pre Planned function celebrations
• Tour operator
• Travel agency

What’s new with Hyatt

Check out the current news about Hyatt:

• The last two quarters have been the best ever for Hyatt in India: Mark Hoplamazian, president and CEO, of Hyatt Hotels Corporation. We have a remarkable level of growth already in India. We opened eight new hotels in 2022, and in 2023, we are slated to open 10 new hotels.
• Hyatt Hotels Corporation (NYSE: H) today announced the opening of Hyatt Place Vijayawada, a modern haven offering 81 rooms and suites. The hotel marks the debut of the Hyatt Place brand in the state of Andhra Pradesh – a significant landmark in Hyatt’s brand growth in the market. Developed by RVS Conventions Private Limited, the property features the Hyatt Place brand’s intuitive design, casual atmosphere, and practical amenities, such as free Wi-Fi and 24-hour food offerings.
•  World of Hyatt members can now earn and redeem points across 20+ residential-style resorts under the Hyatt Vacation Club brand starting today. The brand connects the complementary vacation ownership portfolios of former Hyatt Residence Club and former Welk Resort properties to extended stay experiences that help members rediscover the joys of travel.

Target Audience of Hyatt

Hyatt has a wide range of potential customers. It mostly consists of leisure tourists, business travellers, road travellers, conference planners from corporations, and family travellers.

Teenagers to senior citizens, families on vacation, and businessmen on business trips are all represented. Depending on the needs, it offers both domestic and foreign services.

Check out the buyer persona below:

Now we have a better understanding of Hyatt, let’s look into the SWOT Analysis of Hyatt.

SWOT Analysis of Hyatt

A SWOT analysis identifies a company’s strengths, weaknesses, opportunities, and threats. A proven and true management paradigm that allows Hyatt to compare its business and performance with competitors and the industry as a whole.

So let us go ahead and first have a glance at the strengths of Hyatt from the SWOT analysis of Hyatt.

Strengths of Hyatt

Your organisation’s strength is something that makes it stand out from the rest. It can be a competitive advantage that sets it apart from its competitors. Some of the strengths from SWOT Analysis of Hyatt are as follows –

• Top in Hospitality: Hyatt is recognized amongst the world’s top hospitality brands and it has maintained the position since its inception in 1957. The strength of Hyatt is powered by the belief and importance of their family and people on Hyatt.
• Brand Portfolio: Hyatt’s portfolio includes more than 1,150 hotel and all-inclusive properties in 70 countries across six continents.
• Best Facilities: Hyatt offers apartment-style suites with full kitchens, living areas, and more, including a 24-hour gym, and in-house laundry. Food, beverages, spas, and other recreational facilities. Hyatt’s top-notch facilities make Hyatt what it is today.
• Highly Trained Staff: It is very important to maintain the morale of staff members. The employees here have gained professional skills and experience. The staff of Hyatt will always figure out how to entertain customers.
• Attractive Tour Packages: Hyatt provides budget packages to luxury packages catering to each traveller’s needs. Appeal to Hyatt organisation comes from the popularity of Family, friends, couples, and every type of package ever ready.
• Excellent Customer Service: Hyatt offers excellent customer service and manages its customers’ basic needs at their leisure. Hyatt offers expert assistance, transparent pricing, 24×7 Concierge and it is a one-stop shop for travel enthusiasts. 
• Quality & Standards: Hyatt comes under the best premium group for destination stays and it maintains hygiene standards and takes into account customer satisfaction factors as a top priority which is why most people who are planning to travel choose Hyatt hospitality among others.

Weaknesses of Hyatt

Weaknesses are those elements of your business from which you can rectify your abilities. These are the factors that a company needs to look carefully at and change for the better. 

• Difficulty in On-ground Operations: Developing strong on-ground operations is critical in this sector to provide a consistent experience for customers.
• Unnecessary Operation Cost: The market targets unique and extreme costs for the tour which sometimes seem to be unnecessary costs.
• Hyatt is Expensive: Although Hyatt offers great deals and offers on travel packages, somehow Hyatt is still more expensive than other hospitality partners in the market. Mid-income people who wish to travel and enjoy Hyatt hospitality are not able to do so.
• Dependence on Tourism: The hotel industry is a part of the bigger travel and hospitality industry. This dependence makes the hotel industry vulnerable.
• Labour Outflow: With higher dropout rates compared to other organisations in the industry, Hyatt, and has to spend significantly more on employee training and development than its competitors. 

Opportunities for Hyatt

Opportunities are those elements that might give an organisation a competitive advantage. Opportunities are external to your company and present the possibility of profits, sales, etc.

• International Tourists: The growth rate of outsiders with higher disposable incomes is high, so Hyatt can render these types of customers by selling travel packages to increase the market.
• Continuous Innovation: Hyatt should continuously update its unique touch + tech model to deliver a better experience to travellers because positive feedback from travellers is required now to grow the Hyatt business. Hyatt is working on innovation to give a better experience to travellers.
• Full Utilisation of Internet: Utilisation of the Internet to display hotels, offer visibility, presence, marketing and distribution. Showcasing affordable hotels which are an ideal option for a weekend stay will increase the bookings at Hyatt. 

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• Business Class: There is a surge in the number of business travellers in India. This is where Hyatt can launch their business suit for entrepreneurs who are looking for luxury stay and accommodation at their respective destinations. 
• Expected Growth: According to Statista, the travel and tourism market is expected to reach $637.7 billion in 2022 at a CAGR of 10.47 per cent from 2022 to 2026. Hyatt should use this opportunity to grow its business.
• Hyatt Hotels Expansion: Global hospitality chain Hyatt is expecting to have 90 hotels in India by the next 5 years. This opportunity and decision will help the group to tap into the country’s potential for leisure and hospitality.

Threats to Hyatt

Threats are those elements that can be harmful to your company’s growth.

• Increasing Competition: Hyatt competes in the hyper-saturated market mid-tier and faces fierce competition from other leading travel companies. Even though they have a strong presence in the industry, they are dwarfed by the revenue of their competitors.
• Customer Expectations: Due to increasing options for online travel booking, customers are more likely to urge online budget travel packages with all the facilities at low prices. This habit of customers has affected the revenue generation of Hyatt.
• Losing Faith in Customers: Dishonest online businesses damage consumers’ confidence and faith in the entire enterprise of Internet marketing. 
• Safety Concerns: After a pandemic, people who stay in hotels are more likely to stay in a sanitised and safe hotel. Hyatt travel packages also include partnerships with hotels and a careless step from hotel partners will directly affect the image of Hyatt and the company could face some legal action and cases from travellers. 
• Misbehaviour With Customers: Any sudden misbehaviour and informal way of talking with customers by the hotel manager or welcoming staff will affect the brand image of Hyatt. Travellers will not prefer to purchase travel packages next time from Hyatt. 
• Boutique Alternatives: Cheaper and more robust hospitality services are mushrooming each day. Airbnb is the primary threat to the hotel industry, for that matter.

Now that we have seen the SWOT Analysis of Hyatt. Let us have a look at the competitors of Hyatt.

Competitors of Hyatt

• Trident Hotels:– Founded in 1986, Trident Hotels are 5-star hotels that are owned and managed by The Oberoi Group. There are ten Trident hotels in India, with the headquarters being in Mumbai, Maharashtra.
• Taj Hotels:–Taj Hotels is a chain of luxury hotels and a subsidiary of the Indian Hotels Company Limited, headquartered in Mumbai, India. Incorporated by Jamsetji Tata in 1902, the company is a part of the Tata Group. The company employed over 20,000 people in the year 2010. The company has been ranked as the World’s Strongest Hotel Brand in 2022.
• Starwood Hotels and Resorts:– Starwood Hotels & Resorts is known for its portfolio of high-end hotel brands, including St. Regis, The Luxury Collection, W Hotels, Westin, Le Meridien, Sheraton, Four Points by Sheraton, and Aloft. Each of these brands offers a unique experience, from luxury to affordable luxury to select-service hotels.
• Radisson Hotels:–Radisson Hotels is an international hotel chain headquartered in the United States. A division of the Radisson Hotel Group, it operates the brands Radisson Blu, Radisson Red, Radisson Collection, Country Inn & Suites, and Park Inn by Radisson, among others. In June 2022, Radisson Hotels agreed to be purchased by Choice Hotels for $675 million. The deal closed on August 11, 2022.
• Marriott Hotels:– Marriott is the largest hotel chain in the world by the number of available rooms. It has 31 brands with 8,000 properties containing 1,423,044 rooms in 139 countries and territories. Of these 8,000 properties, 2,149 are operated by Marriott, and 5,493 are operated by others pursuant to franchise agreements. The company also operates 20 hotel reservation centres.

This ends our elaborated SWOT analysis of Hyatt. Let us conclude our learning below.