{"id":1004166656,"date":"2017-02-14T04:20:35","date_gmt":"2017-02-14T12:20:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004166656"},"modified":"2022-12-08T09:27:50","modified_gmt":"2022-12-08T17:27:50","slug":"hyatt-to-double-centric-brand-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hyatt-to-double-centric-brand-portfolio\/","title":{"rendered":"Hyatt to Double Centric-Brand Portfolio"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<div id=\"attachment_1004166657\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004166657\" data-attachment-id=\"1004166657\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hyatt-to-double-centric-brand-portfolio\/hyatt-centric-ginza-tokyo-rendering\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg\" data-orig-size=\"913,686\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Hyatt Centric Ginza Tokyo, rendering\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Hyatt Centric Ginza Tokyo, rendering&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg?w=913\" class=\"wp-image-1004166657 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg\" alt=\"Hyatt Centric Ginza Tokyo, rendering\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg 913w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Hyatt-Centric-Ginza-Tokyo-rendering-e1487072265350.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004166657\" class=\"wp-caption-text\">Hyatt Centric Ginza Tokyo, rendering<\/p><\/div>\n<p><strong>Chicago<\/strong>\u2014Hyatt Hotels Corp. is really putting its heart into Hyatt Centric, one of its newest brands. The hotel giant just announced that it will expand the millennial-focused portfolio to nearly twice its current 14-property size by the close of 2019.<\/p>\n<p>The Centric brand\u00a0caters to today\u2019s twenty- and thirty-somethings in the upper-upscale lifestyle segment who seek adventure in their travels, starting with their lodging accommodations. \u201cWe know our Hyatt Centric guests are eager to explore the world\u2019s best destinations and be in the middle of the action,\u201d Sandra Cordova Micek, senior vice president, global brands for Hyatt Hotels Corp., said in a prepared statement. \u201cEach of these new hotels will deliver on that desire, serving as launch pads for exploration in cities around the world.\u201d<\/p>\n<p>Hyatt\u2019s expansion plan for the full-service lifestyle brand will include both new-build and existing properties across the globe. Debuting this year will be the 71-room Hyatt Centric La Rosi\u00e8re in Montvalezan, France, which will mark Hyatt\u2019s first ski resort in the French Alps, and the Hyatt Centric Istanbul in Turkey, which will continue to operate as the 51-room Hotel Levent until its rebranding.<\/p>\n<p>The years 2018 and 2019 will yield additional locations across the U.S., including Boston, Fort Lauderdale, Mountain View, Calif., and another property in Manhattan. Beyond U.S. borders, the Centric flag will begin to fly in Australia, the Caribbean, China and the U.A.E. Centric\u2019s first new-build hotel in Asia Pacific, the 164-room Hyatt Centric Ginza Tokyo, will welcome its first guests early next year, occupying 10 floors of a 12-story commercial building.<\/p>\n<p>It\u2019s an aggressive expansion plan, but not necessarily in Hyatt keys. \u201cMost of the new Hyatt Centric properties were previously Hyatt branded, so the growth is growth for the Hyatt Centric brand but not growth for the overall Hyatt portfolio,\u201d Michael Bellisario, vice president with financial services firm R.W. Baird &amp; Co., told <em>Commercial Property Executive<\/em>.<\/p>\n<p>In the two years since Hyatt launched Centric, the company has opened 13 hotels in the U.S., including <a href=\"https:\/\/www.commercialsearch.com\/news\/hyatt-centric-adds-3-hotels-in-key-us-markets\/\" target=\"_blank\" rel=\"noopener\">properties in such hotspots<\/a> as Times Square in New York City, New Orleans\u2019 French Quarter and Key West, Fla., as well as in resort destinations like Waikiki and Park City, Utah. Currently, but not for long, the only <a href=\"https:\/\/www.commercialsearch.com\/news\/hyatt-centric-goes-global-adds-more-u-s-sites\/\" target=\"_blank\" rel=\"noopener\">international locale<\/a> is Hyatt Centric Montevideo in Uruguay. The mushrooming of the Centric brand dovetails with Hyatt\u2019s three-pronged \u201cgrowth with focus\u201d message, as outlined in its November 2016 investor day presentation, which highlights \u201cincreasingly brand-led and experience driven\u201d expansion.<\/p>\n<p>\u201cHaving another brand, like Hyatt Centric, that focuses on different customers and their preferences is a good thing when trying to capture market share,\u201d Bellsario said. However, there\u2019s always the possibility of growing pains. \u201cThe Hyatt Centric concept is still evolving because a lot of the recently converted Hyatt Centric properties were not developed with the Hyatt Centric concept in mind; we\u2019ll have to see the 2018 and 2019 deliveries to get a better sense for the lifestyle features of the brand and how it will be differentiated from the Hyatt brand,\u201d he added.<\/p>\n<p>And there\u2019s more to consider, according to Bellisario. \u201cIf Hyatt is converting Hyatt branded properties to Hyatt Centric, and new Hyatt Centric properties are opening through 2019, what will eventually happen to the just plain Hyatt brand?\u201d<\/p>\n<p><em>Rendering courtesy of Hyatt<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The expansion plan will include both new-build and existing properties across the globe.<\/p>\n","protected":false},"author":969,"featured_media":1004166657,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21782,21808,21751,16,23891,21742],"tags":[33185,33979],"class_list":["post-1004166656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-development","category-featured","category-hotel","category-international","category-national","category-latest","tag-hyatt","tag-michael-bellisario"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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