Embracing the brand’s namesake (joie de vivre), the JdV by Hyatt brand offers a collection of independent properties that aim to become true reflections of the urban neighbourhoods they call home. The development of FILA HOUSE Shanghai marks the first time FILA China is extending its brand into the lifestyle hotel space. The aim is to create “a one-of-a-kind experience that appeals to today’s young travellers seeking to live in the moment,” according to the partners.
FILA, a global sports brand with a strong lifestyle appeal with more than 100 years of history, has gained recognition among high-end consumers for its unique fusion of fitness and fashion that is both sporty and stylish. In China, the Italian brand is owned and managed by ANTA, one of the country’s leading global sportswear companies, which has successfully positioned FILA at the premium end of sports fashion with a brand concept of “Live Your Elegance,” combining elegance with vitality.
The FILA HOUSE Shanghai will be developed as part of the new Shanghai headquarters of ANTA Group in Shanghai’s West Hongqiao Business District, an area that is fast establishing itself as a centre of Shanghai international trade, with excellent transportation links and a vibrant community of business and industry.
Located across five independent buildings, housing headquarter office, shops, food and beverage outlets, the eco-friendly headquarters complex is envisioned to be a destination for sports retail as well as a space to showcase the latest trends in sports apparel. The complex, including FILA HOUSE Shanghai, is expected to open by 2024.
2021 ‘a transformative year’ for Hyatt
The last year, a challenging one for all across the hospitality industry was “a transformative year” for Hyatt, according to Mark S Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation. "The performance of our core business continues to strengthen, fuelled by recovering demand and excellent operational execution," he adds.
It saw the largest acquisition in its history, realised approximately USD630 million of gross proceeds from owned hotel dispositions, and had another year of strong net rooms growth driven by a record year of new hotel openings.
AT the end of the fiscal year, Hyatt’s pipeline of executed management or franchise contracts increased 12% to approximately 113,000 rooms. Excluding the acquisition of ALG, the pipeline increased 3% to approximately 104,000 rooms.
Mr. Hoplamazian notes the opening of “99 Hyatt hotels in 2021, a new record,” and “doubled the number of luxury rooms, tripled the number of lifestyle rooms, and tripled the number of resort rooms” in only four years. “Our portfolio is uniquely positioned to benefit from the strengthening demand environment ahead, especially for our high-end travellers,” he says.
RevPAR recovery in 4Q 2021 slows in 1Q 2022 due to Omicron wave
Hyatt’s comparable system-wide RevPAR in comparison with 2019 levels recovered to 74% in the fourth quarter on a reported basis and 84% in Dec-2021, before softening to 63% in Jan-2022, due to the impact of the Omicron variant. Comparable system-wide RevPAR in Feb-2022 was trending at approximately 68% of 2019 levels through the first two weeks of the month with notable RevPAR acceleration of over 20% for the trailing 7-day period as of mid-February compared to the same 7-day period two weeks prior.
The hotel group reports forward booking trends have also experienced notable acceleration. Gross transient revenue booked for future periods was approximately 77% of 2019 levels in Jan-2022 and has accelerated to 95% month-to-date through mid-Feb-2022.
Lower Greater China demand still influences APAC performance
Across the Southeast Asia, Greater China, Australia, New Zealand, South Korea, Japan and Micronesia (ASPAC) management and franchising segment, Hyatt reports adjusted EBITDA decreased to USD8 million in the fourth quarter of 2021 compared to USD9 million reported in the fourth quarter of 2020. Results reflect lower demand from Greater China while the remainder of the region experienced improving demand and an increase in fees. ASPAC net rooms across the Hyatt portfolio increased 7.7% compared to the fourth quarter of 2020.