Yahoo Finance Hyatt (H) Pilots Google's Interpreter Mode to Boost Occupancy
Hyatt Hotels Corporation H has announced that it is joining forces with Google GOOGL to conduct a preliminary trial of Interpreter Mode, a new capability by Google Assistant. By using the feature, users will be able to obtain translations for dozens of languages and have real-time conversations.
The mode will also give guests of Hyatt the provision to speak different languages and communicate through spoken, and written translations of their languages on a Google Home Hub.
Since Hyatt Regency San Francisco Airport generally hosts an array of customers, who speak different languages, the Interpreter Mode is being piloted at its concierge desk to assist with fulfilling guest needs.
The move underscores Hyatt’s relentless focus on providing a seamless guest experience. It also allows Hyatt to have a competitive edge over Marriott MAR and Hilton HLT in terms of driving guest loyalty.
Meanwhile, shares of Hyatt have lost 10% over the past year, outperforming the industry’s collective decline of 27.6%.
Efforts to Drive Occupancy
The recent move is part of Hyatt’s efforts to enhance guest experience and raise occupancy. It also has a creative approach to food and beverage at its hotels worldwide, and created profitable and popular venues that build and enhance demand for its hotel properties.
In 2017, the company launched a loyalty program, World of Hyatt, which replaced its Gold Passport loyalty program. Notably, World of Hyatt is a platform for guest engagement. The company is witnessing a higher level of guest satisfaction, owing to these enhancements. As of Dec 31, 2017, the loyalty program had over 10 million active members. During 2017, approximately 30% of total systemwide room nights were favored by the program.
Our Take
Implementation of the Interpreter Mode will enable Hyatt to witness increased occupancy and in return is likely to drive the company’s top-line growth further. In the third quarter of 2018, the company’s revenues inched up 0.5% from the prior-year quarter.
Hyatt currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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