Latest news with #HyattHotels
Globe and Mail
a day ago
- Business
- Globe and Mail
Intuit and Hyatt Hotels have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release Chicago, IL – June 2, 2025 – Zacks Equity Research shares Intuit Inc. INTU as the Bull of the Day and Hyatt Hotels Corp. H as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Take-Two Interactive TTWO, Electronic Arts EA and Microsoft MSFT. Here is a synopsis of all five stocks. Bull of the Day: Intuit Inc. stock soared to all-time highs after the TurboTax owner posted a big beat-and-raise quarter on May 22, boosted by its expanding artificial intelligence efforts. The technology giant finally broke out of the trading range it had been stuck in since late 2021. Wall Street is increasingly convinced that Intuit's expanding portfolio and AI enhancements will help it keep churning out double-digit sales and earnings growth. Intuit stock has crushed the Tech sector and software standouts such as Microsoft over the past 20 years. The recent surge and breakout should put the mega-cap tech stock back on Wall Street's radar for more near-term upside and continued long-term outperformance. Intuit: Buy This AI-Enhanced Tech Stock and Hold Forever Intuit is one of the biggest players in a corner of the economy that's never going out of style, because there are only two certainties in life: death and taxes. The company's ability to consistently improve and expand its TurboTax software transformed INTU into a technology powerhouse. The company's essential, timeless software offerings have helped it post consistent top-line expansion that's impressive even among its mega-cap tech peers like Microsoft, Apple, and Alphabet. INTU averaged 16% revenue growth over the last decade, alongside roughly 15% average GAAP earnings expansion. Intuit expanded its software portfolio far beyond TurboTax to become a one-stop shop for business and consumer finance, email marketing, and more via Credit Karma, QuickBooks, and Mailchimp. The tech standout boasts roughly 100 million customers across its various businesses. Most importantly, it's ready to fight off any potential new-age challengers by going all in on artificial intelligence. Intuit last summer cemented its AI efforts as it attempts to roll out the next-generation tech into every pocket of its business. INTU said last July that would cut 1,800 jobs (10% of its workforce) and hire roughly 1,800 new people 'primarily in engineering, product, and customer-facing roles' to pursue AI-driven expansion to make sure its ready to thrive in the AI-everything age. Intuit's Blockbuster, AI-Boosted Quarter and Growth Outlook Intuit posted beat-and-raise third quarter fiscal 2025 results (period ended on April 30) on May 22. Its revenue climbed 15% to help boost its adjusted earnings by 18% and improve its GAAP EPS by 19%. Digging deeper, the firm expanded its Consumer Group revenue by 11%, Global Business Solutions Group sales by 19%, and Credit Karma revenue by 31%. Intuit's AI-powered TurboTax Live is an assisted tax preparation service that combines human experts with automation. The segment saw its revenue skyrocket 47% to $2 billion, representing 40% of total Consumer Group revenue. The massive growth reflects rising consumer demand for hybrid tax solutions, where AI streamlines processes (data entry, calculations, and more) and human experts provide personalized guidance. The offering appeals to users looking for convenience over traditional in-person services offered by the likes of H&R Block and CPAs. AI-powered innovations and personalized offerings spurred growth across the portfolio. 'We're redefining what's possible with AI by becoming a one-stop shop of AI-agents and AI-enabled human experts to fuel the success of consumers and small and mid-market businesses,' CEO Sasan Goodarzi said in prepared remarks. 'We had an outstanding year in tax, including a significant acceleration in TurboTax Live revenue growth as we disrupt the assisted tax category.' INTU is projected to boost its revenue by 15% in FY25 (up from its previous 12% guidance) and expand sales by 12% in FY26 to $20.96 billion. The company is expected to boost its adjusted earnings by 18% in fiscal 2025, up from the 13% outlook before its recent release, and then post 14% growth next year. INTU's upbeat earnings outlook earns it a Zacks Rank #1 (Strong Buy), and it has topped our bottom-line estimates in 19 out of the past 20 quarters. Traders and Investors Should Buy this Tech Stock Intuit tanked in 2022 alongside the market and growth-heavy tech stocks as higher interest rates made its valuation levels harder to swallow. Wall Street was also worried about how AI might disrupt the tax industry. INTU has flipped the narrative on the AI front, and Wall Street remains willing to pay a premium for Intuit because it's growing its earnings in a segment of the economy that's never going out of style. Intuit climbed over 3,300% in the past 20 years to more than quadruple Tech's 725% and double Microsoft's (MSFT) 1,600%. The huge outperformance includes its 80% surge in the past three years and 20% run in 2025, boosted by its post-earnings release surge. Intuit finally broke out meaningfully above its 2021 highs after meeting resistance there throughout 2024. The stock is looking a bit overheated in terms of RSI levels, as are a ton of stocks that have skyrocketed off the market's April lows. Intuit's strong earnings growth outlook helps it trade at a 40% discount to its highs with a 3.3 price/earnings to growth (PEG) ratio. This is worth stressing since INTU's stock price just hit a new record. Traders and long-term investors might want to wait for a pullback before they buy INTU stock. But market timing is difficult, and there's no telling when Intuit might fade since strong stocks that break out of a prolonged holding pattern tend to surge longer than many assume. Bear of the Day: Hyatt Hotels Corp. stock has tumbled 16% in 2025 despite its recent rebound alongside the broader market. Hyatt's bottom-line outlook took a turn for the worse after it offered disappointing guidance on May 1. The global hotel and hospitality icon's earnings outlook has tanked over the last year as it faces a difficult-to-compete against stretch and a quickly changing macroeconomic backdrop. Hyatt: What's Going On with the Hotel Giant Hyatt is a global hospitality powerhouse headquartered in Chicago, managing and franchising over 1,450 hotels and all-inclusive properties in 79 countries across six continents. The company operates under tons of different brands, and it's expanded through acquisitions, including its planned expansion into the Caribbean and Mexico via its planned purchase of Playa Hotels & Resorts N.V. Hyatt has also gone full steam ahead on an asset-light business model. The strategy is to own fewer physical properties to focus on earning money by managing and franchising the hotels and resorts. The company posted booming growth after its Covid downturn despite competition from Airbnb and others. That said, Hyatt is facing slowing growth against a difficult-to-compete stretch and a quickly changing macroeconomic backdrop. Hyatt's consensus fiscal 2025 earnings estimate has dropped from $2.59 a share to $2.00 since it reported its Q1 results on May 1, with its 2026 outlook sliding to $3.14 from $3.91. The recent downward earnings revisions have earned Hyatt a Zacks Rank #5 (Strong Sell). Stay Away from Hyatt Stock for Now? Hyatt's negative post-Q1 revisions are part of a longer-term trend that began in early 2024. That said, the company's long-term outlook likely remains intact, and H stock has crushed its Hotels and Motels segment over the past decade. The question in the near term is should investors buy Hyatt even though its earnings outlook continues to tank. The short answer is that investors and traders should likely stay away from the Hotel giant for now since there are plenty of other stocks and industries thriving amid the current economic environment. Additional content: Take Two Up +24% YTD: Here's Why You Should Stay Away Take-Two Interactive shares have surged 24% year to date (YTD), outperforming the Zacks Consumer Discretionary sector's modest growth of 1%. TTWO's competitors, Electronic Arts and Microsoft -owned Activision Blizzard, have returned 0.4%, 9.2% and 8.5%, respectively, YTD. However, this rally represents a classic bull trap that savvy investors should avoid. The gaming giant's recent performance masks fundamental weaknesses that make it a clear sell candidate heading into 2025. For fiscal 2026, the company expects GAAP net revenues between $5.95 billion and $6.05 billion. The company expects net bookings in the range of $5.9-$6 billion. The Zacks Consensus Estimate for TTWO's fiscal 2026 revenues is pegged at $5.99 billion, indicating growth of 6.1% on a year-over-year basis. The consensus mark for earnings is currently pegged at $3.58 per share, down 51.6% in the past 30 days. Take-Two Interactive Software, Inc. price-consensus-chart | Take-Two Interactive Software, Inc. Quote See the Zacks Earnings Calendar to stay ahead of market-making news. GTA VI Delay Derails Revenue Projections The most damaging blow to Take-Two's investment thesis came with the announcement that Grand Theft Auto VI, originally slated for Fall 2025, has been pushed back to May 26, 2026. This delay effectively removes the company's biggest revenue driver from fiscal 2026, creating a massive hole in near-term earnings expectations. The postponement forces investors to wait an additional year for the franchise's primary monetization opportunity, severely undermining growth prospects. The delay is particularly concerning given that GTA VI represents Take-Two's most significant growth catalyst. With management projecting only modest 5% year-over-year growth for fiscal 2026, the absence of this blockbuster title leaves little room for upside surprises and exposes the company's lack of compelling alternatives. Massive Share Dilution Signals Desperation Take-Two's recent decision to raise more than $1 billion through public stock offerings reeks of financial desperation. The company priced 4.75 million shares at $225 each, with options for underwriters to purchase additional shares worth $150 million. This massive dilution comes at a time when the stock is trading near multi-year highs, suggesting management lacks confidence in maintaining current valuations. The timing of this capital raise, coinciding with GTA VI's delay, indicates potential cash flow concerns that aren't immediately apparent in the company's optimistic guidance. Investors should question why a supposedly healthy company needs to dilute shareholders so aggressively. Deteriorating Financial Metrics Raise Red Flags Take-Two's fiscal 2025 results reveal troubling underlying trends. Operating expenses skyrocketed 44% to $4.6 billion, driven by a staggering $3.6 billion impairment charge related to goodwill and acquired intangible assets. This massive write-down suggests previous acquisitions, particularly the $12.7 billion Zynga purchase, have failed to deliver expected returns. More concerning is management's projection that recurrent consumer spending will remain flat in fiscal 2026, with expected declines in mobile gaming and Grand Theft Auto Online revenues. These are the company's highest-margin business segments, and their deterioration signals structural challenges in maintaining profitability. Dangerous Over-Reliance on Aging Franchises Take-Two's revenue concentration in a handful of aging franchises creates significant downside risk. The company expects roughly 45% of fiscal 2026 net bookings to come from Zynga's mobile titles, 39% from 2K properties, and only 16% from Rockstar Games. This heavy dependence on mobile gaming, which is experiencing declining revenues, exposes investors to sector-wide headwinds. With limited new intellectual property in development and increasing competition from emerging gaming platforms, Take-Two lacks the diversification necessary to weather industry disruptions. The company's pipeline appears insufficient to offset declining performance from core franchises. Verdict: Sell Before Reality Sets In Take-Two's 24% year-to-date surge represents an unsustainable rally built on hype rather than fundamentals. Between GTA VI 's delay, massive share dilution, deteriorating financial metrics, and over-reliance on declining revenue streams, the stock faces multiple headwinds that make it a clear sell. Investors should take profits now before the market recognizes these fundamental weaknesses and reprices the stock accordingly. Currently, TTWO carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged for information about the performance numbers displayed in this press release. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Hyatt Hotels Corporation (H): Free Stock Analysis Report Take-Two Interactive Software, Inc. (TTWO): Free Stock Analysis Report Intuit Inc. (INTU): Free Stock Analysis Report Electronic Arts Inc. (EA): Free Stock Analysis Report
Hospitality Net
a day ago
- Health
- Hospitality Net
Destination by Hyatt brand debuts in Greece with the opening of Zélia Halkidiki
New resort offers guests unique, wellness-focused experiences and a chance to embrace authentic Greek beauty. Hyatt Hotels Corporation (NYSE: H) today celebrated the opening of Zélia Halkidiki, an adults-only resort curated to offer guests an authentic and elevated Greek experience. As the first Destination by Hyatt branded property in Greece, the opening reflects the growth momentum of the brand in one of Europe's most sought-after travel destinations. Located in the picturesque region of northern Greece, known for its crystal-clear waters, pine-fringed beaches and laid-back atmosphere, Zélia Halkidiki is perfectly suited for guests looking to slow down and unwind. The resort is nestled on a serene hillside surrounded by olive groves and near several local attractions including, Nea Moudania, the vibrant coastal destination known for its fresh seafood and beautiful beaches, and Afytos Village, a small seaside village characterized by its traditional stone houses, cobblestone streets and panoramic vistas of the Toroneos Gulf. Barefoot luxury meets boho chic design Zélia Halkidiki offers 104 exceptional guestrooms and suites, thoughtfully designed with a palette of beige, olive green and deep gray inspired by the surrounding landscape. Natural materials such as raw wood, textured rock and organic finishes echo the natural beauty of Halkidiki, creating spaces that feel both grounded and effortlessly refined. Custom-made furniture reflects the unique blend of contemporary minimalism and earthy textures found throughout the guestrooms, combining comfort and elegance in complete harmony. Guests can enjoy sweeping sea views whilst making use of in-room amenities including a 55-inch smart TV, revitalizing rain shower and Le Labo toiletries. Embracing diverse culinary traditions The hotel offers a curated selection of dining experiences designed to cater to a variety of tastes while showcasing quality ingredients and diverse culinary traditions. Mesogaea allows guests to explore a range of Mediterranean dishes with an emphasis on fresh, seasonal ingredients, while Shizen blends Japanese and Peruvian flavors, offering a contemporary fusion menu in a refined setting. Set in the property's on-site olive grove, Syntrofi boasts a farm-to-table dining experiencing inspired by the hotel's vegetable garden, with its menu reflecting in-season produce. For those looking to dine more leisurely, the Zest poolside restaurant focuses on authentic Greek cuisine with a menu built around traditional recipes and regional ingredients. Tranquil wellness facilities The serene spa amenities available at the hotel are designed to be an oasis for relaxation and rejuvenation. Facilities include a heated indoor pool and jetted bathtub, soothing sensory showers and a quiet room, while tranquil treatment rooms provide a holistic menu of services for guests to unwind and recharge. Outdoor swimming pools, including the relaxing Hebe infinity pool and energetic Zest pool, encourage a deeper connection with nature. Guests are also welcome to partake in daily yoga and Pilates sessions, with reformers available for curated sessions, as well as weekly cinema nights under the stars, held in the tranquillity of the hotel's olive grove. For further information, please visit The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. Hotel website
Travel Daily News
a day ago
- Business
- Travel Daily News
Hyatt announces Unscripted by Hyatt, a new upscale Collection brand
Hyatt launches Unscripted by Hyatt, expands Essentials, Lifestyle, and Luxury portfolios, adding global properties, branded residences, and adaptive reuse opportunities. CHICAGO – Hyatt Hotels Corporation announced Unscripted by Hyatt, the newest brand in its growing Essentials portfolio. Designed for travelers who value the essentials and prefer spontaneity over structure, Unscripted by Hyatt hotels will bring to life a flexible, collection-style approach where each property reflects its own identity and local flavor yet remains unmistakably Hyatt in quality and care. Positioned in the upscale segment, the Unscripted by Hyatt brand fills a key white space in Hyatt's portfolio and is designed to unlock growth through adaptive reuse and conversion-friendly opportunities. With over 40 hotels globally in active discussions to join the brand, the Unscripted by Hyatt brand offers independent properties and small portfolios a light-touch operating model and flexible brand standards – empowering owners to maintain their unique identity and positioning while benefiting from Hyatt's global scale, including the award-winning World of Hyatt loyalty program, now more than 56 million members strong. 'The Unscripted by Hyatt brand gives owners a flexible path to join the Hyatt system while still delivering the high-quality, dependable experience guests expect from Hyatt,' said Dan Hansen, Head of Americas Development, Hyatt. 'By joining the growing World of Hyatt loyalty program, owners benefit from our powerful network where an innovative new brand like Unscripted by Hyatt widens our guest and customer reach and strengthens the value of the whole Hyatt system.' Hyatt's focus on its Essentials portfolio is part of its insights-led evolution to deepen and enrich experiences for guests and owners within five distinct brand portfolios. As Hyatt scales its select service offerings within its Essentials portfolio, it is simultaneously expanding its Lifestyle and Luxury portfolios to grow in more markets, with more members, for more stay occasions. Hyatt 's Lifestyle portfolio grows room count by more than 11% as of the end of first quarter 2025 compared to the same period last year Hyatt's Lifestyle portfolio continues to set the standard for immersive, design-driven hospitality. Known for bold design, vibrant dining, and unique cultural programming, the Lifestyle portfolio added more than 30 new properties and 3,500 rooms between the first quarter of 2024 and first quarter of 2025, including exciting openings and the acquisition of Standard International's brands. The Standard, The StandardX and Bunkhouse Hotels are generating strong demand from guests, group customers, and owners alike as Hyatt increases its lifestyle offerings. Additionally, World of Hyatt members can now earn and redeem points at most The Standard and The StandardX hotels, including locations like New York, Ibiza, London, and Bangkok – bringing even more global lifestyle experiences into the program. The recent formation of Hyatt's Lifestyle Group, led by Amar Lalvani, President & Creative Director, is focused on enhancing Hyatt's leading position in the lifestyle segment. The Lifestyle portfolio has a number of exciting openings ahead, with Andaz Nagoya recently signed and coming at a to-be-announced date, as well as the following hotels set to open through 2026: Thompson Miami Beach (expected to open in Q3 2025) is located just steps from the beach and the famed Lincoln Road shopping scene. With 147 stylish rooms, Thompson Miami Beach will offer a chic interior and suites by internationally acclaimed designer Gulla Jónsdóttir. (expected to open in Q3 2025) is located just steps from the beach and the famed Lincoln Road shopping scene. With 147 stylish rooms, Thompson Miami Beach will offer a chic interior and suites by internationally acclaimed designer Gulla Jónsdóttir. Thompson Shanghai Expo (expected to open in November 2025) will debut the Thompson brand in Asia Pacific and is inspired by Shanghai's industrial legacy and cosmopolitan energy. This urban retreat will celebrate contemporary design, curated art, and innovative gastronomy – a true reflection of the city's vibrant spirit. (expected to open in November 2025) will debut the Thompson brand in Asia Pacific and is inspired by Shanghai's industrial legacy and cosmopolitan energy. This urban retreat will celebrate contemporary design, curated art, and innovative gastronomy – a true reflection of the city's vibrant spirit. Andaz Lisbon (expected to open in Q4 2025), located in the Baixa district, will span five buildings – including the former Banco Português de Investimento – with 232 rooms, a rooftop, and bold design rooted in local culture. (expected to open in Q4 2025), located in the Baixa district, will span five buildings – including the former Banco Português de Investimento – with 232 rooms, a rooftop, and bold design rooted in local culture. Andaz Turks & Caicos at Grace Bay (expected to open in early 2026) will mark the first Hyatt hotel on the islands of Turks & Caicos and the first Andaz hotel in the Caribbean. The 5.5+ acre resort will offer three restaurants and bars, a spa, kids club, an indoor fitness center and recreational water sports. (expected to open in early 2026) will mark the first hotel on the islands of Turks & Caicos and the first Andaz hotel in the Caribbean. The 5.5+ acre resort will offer three restaurants and bars, a spa, kids club, an indoor fitness center and recreational water sports. Andaz Gold Coast (expected to open in 2026) will be the first Andaz hotel in Australia. Part of the world-class integrated development on Broadbeach Island, Queensland, the property will offer easy access to sandy beaches, rainforests, and a myriad of dining and entertainment options. (expected to open in 2026) will be the first Andaz hotel in Australia. Part of the world-class integrated development on Broadbeach Island, Queensland, the property will offer easy access to sandy beaches, rainforests, and a myriad of dining and entertainment options. The Standard, Lisbon (expected to open in 2026) will open in the former Santa Clara Palace with 197 rooms, rooftop views, dining venues, and 32 branded residences, blending heritage, design, and prime city location. (expected to open in 2026) will open in the former Santa Clara Palace with 197 rooms, rooftop views, dining venues, and 32 branded residences, blending heritage, design, and prime city location. Thompson Seville (expected to open in 2026) will debut in Spain's fourth-largest city, channeling its vibrant creative energy. Its 101 rooms, rooftop pool, dining, and co-working spaces will be set within a culturally rich location. (expected to open in 2026) will debut in Spain's fourth-largest city, channeling its vibrant creative energy. Its 101 rooms, rooftop pool, dining, and co-working spaces will be set within a culturally rich location. Andaz Shanghai ITC (expected to open in Q1 2026) will be situated in Xujiahui in Central Shanghai, offering global travelers inspiring and unique experiences in the vibrant city of Shanghai through the brand's distinct expressions of local culture and focus on elevated sensory experiences. (expected to open in Q1 2026) will be situated in Xujiahui in Central Shanghai, offering global travelers inspiring and unique experiences in the vibrant city of Shanghai through the brand's distinct expressions of local culture and focus on elevated sensory experiences. The Standard, Mexico City (expected to open in 2026) is anticipated to open in time for one of soccer's biggest events, and will be set in Tabacalera, a historic neighborhood undergoing significant transformation due to its distinct art, culture and gastronomy. Luxury offerings continue strong momentum driven by demand for experiences and branded residences Hyatt's growing Luxury portfolio invites guests to experience a curated assortment of brands that span cultural immersion, transformational wellbeing, residential modern elegance, and more. With brands like Park Hyatt which combines sophistication with understated luxury, the culturally rich and environmentally conscious Alila, and the compilation of independent, one-of-a-kind luxury hotels in The Unbound Collection by Hyatt, Hyatt's Luxury portfolio continues to see strong, sustained demand from guests and owners alike. At the end of the first quarter of 2025 compared to the same period last year, the number of rooms in the Luxury portfolio has grown by more than 5%. This momentum continues with upcoming and exciting planned openings for the portfolio through 2026 including: Park Hyatt Los Cabos at Cabo del Sol Hotel & Residences (expected to open in summer 2025) will introduce the Park Hyatt brand to Mexico with a 59,000-square-foot wellness complex and 163 guestrooms and suites across two miles of coastline in the exclusive Cabo del Sol enclave. (expected to open in summer 2025) will introduce the Park brand to Mexico with a 59,000-square-foot wellness complex and 163 guestrooms and suites across two miles of coastline in the exclusive Cabo del Sol enclave. Park Hyatt Kuala Lumpur (expected to open in August 2025) will occupy the top floors of Merdeka 118, the tallest skyscraper in Asia Pacific, and be the first Park Hyatt property in Malaysia, overlooking Stadium Merdeka, Malaysia's national treasure and a UNESCO heritage site. (expected to open in August 2025) will occupy the top floors of Merdeka 118, the tallest skyscraper in Asia Pacific, and be the first Park property in Malaysia, overlooking Stadium Merdeka, Malaysia's national treasure and a UNESCO heritage site. Alila Mayakoba (expected to resume operations in 2025 after rebranding from Andaz Mayakoba) will mark the debut of the Alila brand in Latin America and the Caribbean, offering a wellbeing sanctuary with a collection of 118 guestrooms and 64 suites and Spa Alila offering holistic wellness experiences deeply connected to local culture and sustainability. (expected to resume operations in 2025 after rebranding from Andaz Mayakoba) will mark the debut of the Alila brand in Latin America and the Caribbean, offering a wellbeing sanctuary with a collection of 118 guestrooms and 64 suites and Spa Alila offering holistic wellness experiences deeply connected to local culture and sustainability. Park Hyatt Johannesburg (expected to open in Q3 2025) will offer 31 rooms of pure understated luxury, serving as a refined retreat in the vibrant Rosebank district – a cultural and commercial hub in the heart of the city. (expected to open in Q3 2025) will offer 31 rooms of pure understated luxury, serving as a refined retreat in the vibrant Rosebank district – a cultural and commercial hub in the heart of the city. Miraval The Red Sea (expected to open in Q4 2025), the Miraval brand's first resort outside the U.S. and designed around immersive, personalized wellness programming, will open on Shura Island with 180 rooms and suites. (expected to open in Q4 2025), the Miraval brand's first resort outside the U.S. and designed around immersive, personalized wellness programming, will open on Shura Island with 180 rooms and suites. The Barai (part of The Unbound Collection by Hyatt ) (expected to open in July 2026) will debut The Unbound Collection by Hyatt in Thailand. Set in the coastal city of Hua Hin, the resort will embody elevated wellness experiences where architecture meets the elements of nature, wind, water, fire and earth, inspired by Khmer spiritual design. (part of The Unbound Collection by ) (expected to open in July 2026) will debut The Unbound Collection by in Thailand. Set in the coastal city of Hua Hin, the resort will embody elevated wellness experiences where architecture meets the elements of nature, wind, water, fire and earth, inspired by Khmer spiritual design. Park Hyatt Mexico City Hotel & Residences (expected to open in 2026) will feature 155 guestrooms and will be located on the upscale Campos Elíseos Street overlooking Mexico City's iconic Chapultepec Park. (expected to open in 2026) will feature 155 guestrooms and will be located on the upscale Campos Elíseos Street overlooking Mexico City's iconic Chapultepec Park. Park Hyatt Cancun (expected to open in 2026) will offer beachfront access, immersive and rare culinary, bar and lounge experiences, and world-renowned architecture and design. As an extension of Hyatt's luxury growth, Hyatt is also seeing increasing demand for its branded residences – one of the fastest growing segments of luxury real estate globally. Hyatt's growing branded residential portfolio includes brands like Park Hyatt, Thompson Hotels, Andaz, The Standard, Miraval, and more. 'Born from Hyatt's luxury expertise, Hyatt's branded residential portfolio offers extraordinary living experiences with Hyatt's globally renowned brands in the world's most desirable destinations,' said Tina Necrason, Global Head of Branded Residential, Hyatt. 'Each residence reflects the brand's unique identity – reimagined for private ownership where hotel-inspired living meets every-day needs and desires.' With more than 50 branded residential projects open or in its pipeline around the world, Hyatt's rich legacy in luxury enables the company to redefine residential living excellence. Upcoming openings include Park Hyatt Los Cabos at Cabo del Sol Hotel & Residences, plans for five Thompson Hotels Residences to debut in Mexico in locations like Cancun, Puerto Vallarta, and Mexico City, along with the recently opened The Standard Residences in Lisbon and other upcoming openings in Miami and Asia.
Chicago Tribune
2 days ago
- Business
- Chicago Tribune
After lawmakers pass budget with cuts and tax hikes, Gov. JB Pritzker blames state's fiscal challenges on Trump
SPRINGFIELD — While offering a sunny take on the passage of a roughly $55 billion state spending plan balanced in part by cutting back on some of his own priorities, Gov. JB Pritzker on Sunday blamed Illinois' latest fiscal challenges not on a state tax system he once described as 'unfair' and 'inadequate' but on economic headwinds created by President Donald Trump. 'This year has been hard across the entire Midwest — indeed, the entire country,' Pritzker told reporters in his state Capitol office, nodding to cuts in areas such as public health and higher education in neighboring red states Indiana and Iowa. 'Donald Trump's incomprehensible tariff policies have put a tax on our working families and dampened the nation's economic outlook,' he said. 'The Trump slump is affecting every state, and the chaos and uncertainty of the Republicans' proposed cuts to health care and education and jobs have made budgeting, well, harder than ever before.' The spending plan, which was passed by lawmakers on Saturday shortly before a midnight deadline and awaits Pritzker's signature before the state's fiscal year begins July 1, makes nearly $400 million in spending cuts, including $193 million in operational cuts across state agencies beyond what Pritzker proposed in February, according to budget negotiators. It also relies on increased taxes on tobacco products, online sportsbooks, and overseas and out-of-state corporate earnings as well as one-time revenue measures, which together total more than $800 million. Pritzker's efforts to blame Trump for Illinois' latest budget woes and contrast the state's spending decisions with those of neighboring Republican-led states came at the end of a spring legislative session during which the governor continued efforts to raise his national profile. His relentless criticisms of Trump — particularly in a fiery speech to New Hampshire Democrats and appearances on cable news, late-night TV and podcasts — have stood in contrast to the softer tone employed by some other prominent Democratic governors and further fueled speculation Pritzker is eyeing a White House run in 2028. Before that, however, the billionaire Hyatt Hotels heir must officially decide whether to run next year for a third term as governor. It's widely expected he will, though he didn't answer when asked about it as he departed his Sunday morning news conference. Pritzker's reluctance to embrace a more comprehensive approach to overhauling the tax system after his failed effort to amend the state constitution in 2020 to allow for higher rates on larger incomes suggests a wariness about giving credence to political opponents eager to brand him as a tax-raiser. Indeed, the governor vowed to use his veto pen this year if lawmakers sent him a spending plan that relied on 'broad-based' increases to sales or income taxes. Pritzker's hesitancy over taxes extended to the unresolved debate about how to overhaul governance and increase funding for Chicago-area mass transit systems facing a looming fiscal cliff of more than $771 million. While echoing the need for changes to the disjointed board structure of the city and suburban bus and train systems, the governor hasn't publicly endorsed a funding plan, and legislators left town without sending one to him. As for the state's longer-term financial picture, the kind of deeper cuts Republicans espouse are anathema to Pritzker and the legislature's Democratic supermajority. But rather than expending political capital on broader revenue-generating efforts such as a renewed push for a graduated-rate income tax or an attempt to expand the sales tax to cover more services, both common practices in other states, Pritzker's answer on Sunday for state budget stability is 'more stability out of Washington, D.C.' 'We would not have suffered this problem had we not had the Trump slump affecting us,' Pritzker said. 'There are $500 million of reduced revenues to the state of Illinois as a result of what Donald Trump has done to a booming economy.' Throughout the closing days of the legislative session, which adjourned in the early morning hours Sunday, Democrats repeatedly pointed the finger at Trump and congressional Republicans for the difficulties the General Assembly faced in crafting the upcoming year's budget. Presenting the spending plan on the House floor late Saturday, Majority Leader Robyn Gabel of Evanston said a big reason for many of the proposed cuts was the uncertainty over whether the Trump administration would deprive Illinois of critical federal funding for Medicaid and in other areas. 'I want to emphasize that these were not decisions made lightly or made hastily. These are strategic efficiencies so we can invest in the needs of our working families and seniors on fixed incomes,' Gabel said. 'Of course, we do not know the full extent of the cuts Washington is preparing. But we do anticipate that health care access and infrastructure will be most directly impacted.' Democrats cut back on the $350 million annual increase in school funding required under a 2017 state law, withholding $43 million that normally would go to a grant program designed to help school districts with high property tax rates and low real estate values. They characterized the move as a pause to allow for a study of whether the program is working as intended. The overall spending plan followed Pritzker's recommendation to pause one of his key priorities: a $75 million annual increase to boost the number of seats in state-funded preschool programs. The budget would keep the spending level with the current year. The budget also cuts back on another Pritzker priority, suspending monthly contributions to the state's 'rainy day' fund for a year. Instead, about $45 million would be held in the general fund, which pays for day-to-day operations. Funding for a program that provides Medicaid-style health insurance for noncitizens ages 42 to 64 also was zeroed out, a savings the governor's office estimated at $330 million, though the budget includes $110 million to continue coverage for those 65 and older. During the House debate, Rep. Dagmara Avelar, a Democrat from Bolingbrook and member of the legislative Latino Caucus, said she was supporting the overall spending plan even though it was 'not a perfect budget.' 'In fact, it's painful. It eliminates a program that has been a lifeline for many, including people that I have fought alongside for years,' she said. 'But I'm voting 'yes' because leadership requires hard choices. And this budget protects more than it cuts.' To that end, the budget includes an 80-cent-per-hour wage increase for direct support professionals who work with people with developmental disabilities. But it reduces the hours the state would pay for by 35%, which Gabel, the House majority leader, characterized as 'rightsizing.' Advocates and unions have said wages needed to be raised by $2 an hour to meet recommendations that those workers be paid 150% of minimum wage. At a Senate committee hearing on the plan Saturday afternoon, Sen. Chapin Rose of Mahomet, a GOP budget negotiator, called the reduction in hours a 'cynical sleight of hand.' Safety-net hospitals serving low-income patients and communities are set to receive $118 million in grant funding, less than the roughly $160 million some lawmakers were hoping for. The Monetary Award Program, which provides grants to lower-income college students, will see a $10 million boost to a total of nearly $722 million. The budget also will devote $75 million to help ensure pensions for newer state employees meet a federal requirement to be on par with Social Security benefits, and it sets aside $100 million for a 'bridge fund' to cover unexpected shortfalls in the coming year. Despite the fiscal challenges, the Democratic plan includes $8.2 billion in new spending on infrastructure projects, which are separate from the operating budget and funded by dedicated taxes and borrowing. Republicans accused the majority party of once again hoarding that money for projects in their own districts. 'Let's hide this stuff. Let's hide it so that the public doesn't see it until it's too late. Let's blame everybody but ourselves. The Trump administration did this. The Trump administration did that. I call BS,' GOP Rep. John Cabello of Machesney Park, who was a Trump delegate during last year's Republican National Convention in Milwaukee, said during the House debate late Saturday. Cabello also said Republicans weren't given a chance to fund projects on behalf of taxpayers in their districts. On the revenue side, a tax amnesty program that would allow delinquent filers to pay off their tax debt without penalties is expected to generate $228 million in one-time money for the state. The plan also includes a set of tax law changes that would give the state the ability to tax more offshore and out-of-state corporate income. Taken together, those changes would bring in an estimated $336 million in ongoing revenue. Democratic Rep. Will Guzzardi of Chicago, a House budget negotiator and member of the progressive caucus, said the budget will be balanced, in part, with 'revenues paid for by the biggest and most profitable corporations that do business in Illinois, who can afford to pay a little bit more to help us fund the operations of our state, closing loopholes and going after financial tactics that those companies use to avoid paying what they should.' There's also a new per-wager tax on online sportsbooks, expected to generate $36 million in the coming year. Taxes will go up on tobacco from the current rate of 36% of wholesale price for cigarettes and 15% for vaping products to 45% across the board, including nicotine pouches, which have exploded in popularity in recent years. The $50 million in anticipated revenue would go to tobacco cessation efforts and the state's Medicaid program. Republicans criticized the use of one-time revenue streams to fill shortfalls, including the diversion of money from road projects by again delaying a shift of revenue from the sales tax on gasoline from the state's general fund to the road fund, freeing up $171 million to spend on operations. Pritzker defended the practice, saying Democrats crafting the budget tried to ensure 'any one-time revenues … really matched up with or … were diminishing of the one-time expenditures that we have to make.' Even without a substantial overhaul of the state's income or sales taxes, Pritzker said, the state has 'gotten really much closer than ever before' to erasing a structural budget deficit his administration pegged at $3.2 billion shortly after he took office in 2019. Still, some other Democrats, especially members of the party's progressive wing, believe there needs to be a deeper look at how services for residents across the state are funded, particularly given the uncertain economic times. Guzzardi, the House budget negotiator, was a co-sponsor of legislation that put the graduated income tax question on the 2020 ballot and 'fought really hard' in the unsuccessful campaign for its passage. 'I still think it's the kind of change that our state is going to need, the systemic change to our tax structure, to ease the burden on working families and to generate the revenue we need to fund vital services by asking the folks at the top to pay,' Guzzardi said Sunday. 'We have to make a more convincing case to the voters, that much is really clear.' More immediately, though, lawmakers are under pressure to address the dire financial situation facing Chicago-area mass transit with the impending expiration of federal coronavirus relief money. In the closing hours of the spring session, Senate Democrats introduced and passed a plan to address mass transit governance and funding, including a new $1.50 fee on retail deliveries. Sen. Ram Villivalam, a Chicago Democrat and point person on transit issues, called the plan 'unprecedented' and said it would create 'the world-class, safe, reliable, accessible, integrated public transit system we need for our northeastern Illinois region.' But key House Democrats said their chamber didn't take up the Senate proposal before adjourning for the spring because they wanted to focus first on overhauling the way the various transit agencies operate before allocating taxpayer money to those changes. 'I would say that the commitment has always been to do reform first. And then talk about doing revenue,' Rep. Eva-Dina Delgado, a Chicago Democrat, said. 'We worked really hard along with the Senate on putting together that reform. Unfortunately, we had different approaches to how to get that across the finish line.' Rep. Kam Buckner, another Chicago Democrat involved in transit negotiations, said it would've been 'irresponsible' for House members to vote on the Senate plan without being thoroughly familiar with its funding proposal. The measure came over from the Senate after midnight Sunday, when the threshold to pass legislation taking effect before June 2026 increased from a simple majority to three-fifths. That didn't allow enough time for House Democrats to review the proposed tax and round up the votes needed to pass it, Buckner said. Pritzker likewise said Sunday that he hadn't had much time to review the delivery tax proposal, which was met with stiff opposition from business groups and others. 'I obviously want to make sure we're lowering, not raising, taxes whenever we can,' the governor said, adding that he looks forward to reviewing future proposals in the coming months. It's important for there to be 'significant work that'll need to be done over the summer and in the fall' on governance and funding the Chicago-area and downstate transit systems, Pritzker said.
Travel Weekly
4 days ago
- Business
- Travel Weekly
Hyatt is using Unscripted brand for a new hotel collection
Hyatt Hotels Corp. revealed that Unscripted by Hyatt will be a collection brand for upscale independent hotels. Unscripted was one of the brands Hyatt obtained when it acquired Dream Hotel Group in February 2023. Hyatt is targeting independent properties and small hotel portfolios seeking to join a major hospitality system. Hyatt says Unscripted will have "a light-touch operating model and flexible brand standards." Unscripted will focus on conversions and adaptive reuse projects. Hyatt says it is in discussions with 40 hotels to join the collection. Hotels will be in the World of Hyatt loyalty program. "The Unscripted by Hyatt brand gives owners a flexible path to join the Hyatt system while still delivering the high-quality, dependable experience guests expect from Hyatt," said Dan Hansen, Hyatt's head of Americas development. Unscripted by Hyatt will be part of Hyatt's Essentials portfolio. Hyatt revamped its brand organization, grouping its flags into Luxury, Lifestyle, Inclusive, Classics and Essentials categories, earlier this year. Hyatt's Essentials category comprises select-service brands like Caption by Hyatt, Hyatt Place, Hyatt House, Hyatt Studios, Hyatt Select and UrCove.
