Hyatt Hotels is having a great year. Earnings are up double digits so far, it’s on track to open 60 hotels in 2016, and business in China is growing, despite all of the gloomy reports about a slowing economy in the Asian nation.
And even though Hyatt wasn’t successful in the bidding war to buy Starwood Hotels, CEO Mark Hoplamazian tells Fortune’s Susie Gharib the giant Marriott-Starwood combination is actually an “opportunity” for his company. He expects many Starwood guests may be looking for “a new home” at a high-end brand hotel, “which is us.”
Hoplamazian is on the lookout to buy other hotels this year, though, and is even interested in opening a few hotels in Cuba, saying “it’s an important market.”
Since Hoplamazian became CEO 10 years ago, he has spearheaded Hyatt’s growth into a multi-brand luxury hotel business with revenues of more than $4 billion and a market cap of $6 billion.