Hyatt's Brand Advantage Continues to Strengthen, Witnessed by Its Strong Development Growth
We don't expect to materially change our $75 valuation for narrow-moat Hyatt after the company's reported fourth-quarter and 2019 outlook was near our forecasts and recent results of peers. We maintain our long-held view that Hyatt's brand advantage is strengthening, witnessed by its 2018 7.2% unit growth. That said, we view shares as fairly valued and see narrow-moat Wyndham with a more attractive margin of safety.Hyatt's fourth-quarter revPAR growth of 1.5% was slightly below the 2% reported ...
Hyatt Hotels is a hospitality company engaged in the development, ownership, operation, management, franchising, licensing or provision of services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts, and other properties, including spas and fitness studios, timeshare, fractional, and other forms of residential and vacation properties. The company also manages, provides services to, or licenses its trademarks with respect to residential ownership units that are often adjacent to a Hyatt-branded hotel. Additionally, for condominium ownership units, the company provides services and/or manage the rental programs or homeowner associations associated with such units.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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