Brand Introduction
Hyatt Place is a renowned and trusted name in the hospitality industry, known for its modern, flexible, and customer-centric approach. The brand was introduced by Hyatt Hotels Corporation, which has a long history of excellence and hospitality spanning over 60 years. Hyatt Place combines the comfort and services of a full-service hotel with the convenience of a boutique experience, offering amenities like spacious rooms, free breakfast, fitness centers, and 24/7 services.
With a global presence in key markets across North America, Europe, and the Middle East, Hyatt Place has established itself as a preferred choice for business and leisure travelers alike. The brand’s reputation for providing upscale accommodations with exceptional value has made it a popular choice for guests seeking comfort, convenience, and modern design.
Space Requirements
To establish a Hyatt Place franchise, the following space requirements apply:
- Minimum Space: 80,000 square feet
- Maximum Space: 120,000 square feet
This includes guest rooms, common areas, and all other essential facilities such as dining and fitness areas. The hotel is designed to cater to both short-term and extended stays, providing ample space for guests to enjoy both relaxation and business activities.
Investment Requirements
The estimated investment for opening a Hyatt Place franchise varies depending on the location, size, and specific requirements of the property. The following are the general costs involved:
- Initial Franchise Fee: $100,000 – $150,000
- Total Estimated Investment: $10 million to $15 million
This total includes the costs for land acquisition, construction, franchise fee, and operational costs (staff training, marketing, inventory, etc.). - Ongoing Royalty Fees: Typically 5-7% of gross sales.
- Marketing Contribution: 2-3% of gross sales.
These costs can vary based on the region and the scale of the hotel, and it’s essential to factor in the ongoing operational expenses associated with running the franchise.
Business Details
- Overview of Products or Services: Hyatt Place offers premium hospitality services with a focus on comfort and convenience. Each hotel features spacious rooms, free Wi-Fi, 24-hour fitness centers, business facilities, and a full-service breakfast. The hotel’s modern design is equipped with up-to-date technology and amenities that cater to the evolving needs of travelers.
- Target Customer Base: Hyatt Place appeals to business travelers, families, and long-term guests seeking a blend of value and comfort. It attracts individuals who prioritize convenience, flexibility, and quality during their stay. The brand’s emphasis on creating a welcoming environment ensures a loyal customer base.
- Unique Selling Points (USPs):
- Spacious rooms with separate living and workspaces.
- Complimentary full hot breakfast.
- 24/7 convenience offerings like food service and a business center.
- Personalized service with an emphasis on guest comfort.
- Features of the Offered Products: The Hyatt Place franchise offers high-quality accommodations, ensuring each guest feels at home. Whether staying for one night or an extended period, customers experience luxury, comfort, and convenience. The rooms are equipped with modern amenities, including HDTVs, workstations, high-speed internet access, and a variety of bedding options.
Franchise Conditions
To become a franchisee of Hyatt Place, the following conditions apply:
- Prior Experience: While prior experience in hospitality management is preferred, it is not mandatory. Franchisees are required to demonstrate the ability to manage large-scale operations and possess strong leadership skills.
- Location Preferences: Ideal locations for Hyatt Place include metropolitan areas, major business hubs, and popular tourist destinations. Proximity to airports, convention centers, or large corporate offices is a plus.
- Staffing Requirements: Franchisees will need to recruit and manage staff for various departments, including front desk, housekeeping, food & beverage, and maintenance. Hyatt provides detailed training and support to ensure all team members meet the brand’s service standards.
- Financial and Operational Prerequisites: Franchisees should have a strong financial background and sufficient capital to invest in the required infrastructure. A proven ability to manage large-scale operations is essential to ensure efficient operations, high-quality service delivery, and profitability.
Franchise Benefits
Partnering with Hyatt Place offers a wide range of benefits:
- Brand Recognition: Hyatt Place is a globally recognized brand known for its reliability and top-notch service, which attracts customers and drives foot traffic to your location.
- Profit Margins and ROI: While financial returns are not guaranteed, the global appeal of the Hyatt Place brand, along with its operational efficiencies, creates a promising opportunity for strong profit margins.
- Comprehensive Support: Franchisees benefit from extensive support, including:
- In-depth training programs for management and staff.
- Ongoing operational and marketing support.
- Access to Hyatt’s global network and resources.
- Assistance with site selection, construction, and hotel setup.
- Unique Features: The Hyatt Place franchise stands out in the hospitality industry due to its flexible, high-value service model that accommodates various types of travelers. Its blend of upscale service, convenience, and affordability makes it a distinctive offering in the competitive hotel market.
Company USPs
Hyatt Place’s competitive edge in the marketplace lies in the following:
- Customer Loyalty: Hyatt Place enjoys strong brand loyalty due to its consistent quality and customer service. The brand’s reputation for delivering a welcoming, comfortable, and efficient guest experience ensures repeat business.
- Product Range: Offering a broad range of services, from luxury accommodations to business-focused amenities, Hyatt Place caters to both leisure and corporate travelers, meeting the diverse needs of its customer base.
- Pricing Strategy: Hyatt Place’s pricing strategy combines affordability with quality, providing a high-value proposition to both budget-conscious and premium customers.
- Supply Chain Efficiency: Hyatt’s established supply chain ensures timely delivery of all operational resources, helping franchisees maintain consistent service levels.
- Ethical Business Practices: Hyatt operates with a strong commitment to sustainability and corporate social responsibility, reinforcing its positive image in the market and among customers.
No-Guarantee Disclaimer
Disclaimer:
The Hyatt Place brand does not guarantee specific profit margins, business success, or return on investment (ROI). All information provided is accurate to the best of the company’s knowledge but may be subject to change based on market dynamics, regulatory changes, or operational requirements.
Franchisees are encouraged to conduct their due diligence and understand the risks involved before entering into a franchise agreement.