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Hyatt Looks To Expand

Greece’s Hyatt Regency aims to expand its hotel-casino business in the immediate future to countries outside of Greece, says the company’s chairman, Georgos Galanakis. He did not, however, exclude expansion in Greece and said the company would utilize every business opportunity available. For 1999, the company posted net profit before taxes of 11.3 billion drachmas, which was 79.4% up over the year before. Revenue for the year for the hotel and casino reached 44.3 billion drachmas, or 22.3% more than the year before. For this year, the company expects revenue of 49.4 billion drachmas and a net profit before taxes of around 14 billion drachmas.

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