U.S. hotels eye new brands as supply growth slows
February 10, 2010 |
Top U.S. hotel companies are scouting out new brands to expand their reach abroad and keep their best customers from defecting to rivals as new rooms growth slow down.
In recent months, Choice Hotels International Inc (CHH.N), Hyatt Hotels Corp (H.N) and Wyndham Worldwide Corp (WYN.N) have all expressed interest in acquiring a brand.
Buying a brand allows a company to offer more hotels at different prices and give frequent guests more options, keeping them away from competitors.
It also helps a hotel company diversify into new market segments and regions without the cost of developing a chain from scratch.
"You're trying to be everything to everyone," said Stifel Nicolaus analyst Rod Petrik.
Get the full story at Reuters
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