Skift Take
Hyatt has 40% of its hotel pipeline in China despite trouble in the country's property market. The hotel giant is betting that government support for the country's developers will help get new projects off the ground.
Hyatt has bet big on developing hotels in China despite recent turmoil in the commercial real estate market. Hyatt executives acknowledged the risks Thursday, but explained reasons for optimism.
"What we hear from our team on the ground is that the government is doing things to help companies because there have been some challenges in the property market," said Joan Bottarini, Hyatt's CFO. "The government is helping property developers because this is the way to continue to stimulate the economy in certain markets. They're helping them to get these hotels advanced and financed."
About 40% of Hyatt's pipeline of 127,000 r