BERLIN — Hyatt Hotel Corp.'s Briana Swift sees growth opportunities for the company across Northern Europe.
Speaking with Hotel News Now during the 2024 International Hospitality Investment Forum, Hyatt's regional vice president of development for Northern Europe noted local partnerships have been key for growth across the region, particularly in countries like Sweden.
"That is where we're seeing the opportunity now too and where we're seeing quite a lot of investment interest, branding interest," she said.
Across Northern Europe, Germany has historically been Hyatt's biggest market, although she said there are still markets and pockets for additional growth. She noted her company's "outlook is still positive" despite the country's economic headwinds.
"Germany has proven itself to be a resilient market thanks to the high levels of domestic travel and domestic demand," she said.
She said the company is now deploying a "phase two" strategy in the country focusing on secondary markets that rely on that domestic demand.
"During the pandemic, we found those markets to still be quite strong," Swift said.
She said growth has been obviously stymied by the high-interest-rate environment, but there are opportunities for new types of development.
"We're seeing long-term office landlords now are interested in hotels," she said. "We're seeing owner-operators who want to convert or affiliate with an international brand because they want a bit of that safety net during a recession."
For more from HNN's interview with Hyatt's Briana Swift, watch the video above.