Hyatt Hotels (H) is forming partnerships with Chinese state-owned entities to launch joint-venture brands as it seeks to offset slowing growth, Nikkei Asia reported Friday, citing an interview with Hyatt Asia-Pacific President David Udell.

The company's Q3 revenue per available room in China was reportedly $89.61, compared with a global average of $146.24 and $144.08 for the rest of Asia.

Hyatt intends to double its regional presence by adding approximately 385 properties and expects to reach 44 locations in Japan by 2035, the news outlet quoted Udell as saying.

The expansion strategy focuses on asset-light deals and local partnerships such as the UrCove brand with Beijing Tourism Group and a venture with China Resources Land, Nikkei Asia reported.

New projects include a 2027 opening for an Andaz-branded hotel in Hong Kong through an agreement with Wing Tai Properties and CSI Properties, the news outlet reported.

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