The new Hyatt Studios brand represents
approximately 2,000 rooms in pipeline including new markets and
deals with first-time Hyatt owners
Hyatt Hotels Corporation (NYSE: H) highlighted today its
expected growth trajectory for 2024 and beyond, underscored by a
record year of deal signings in 2023. Hyatt’s commitment to be the
preferred brand for guests, customers and owners has resulted in a
record pipeline of 127,000 rooms worldwide as of year-end 2023,
which is expected to fuel asset-light earnings into the future.
This record pipeline represents nearly 40% of existing rooms in the
Hyatt portfolio.
"We have been very intentional in our growth strategy and
acquisitions, always prioritizing guest, customer and owner
preference as well as differentiation, and taking bold steps to
stay ahead of market trends,” said Mark Hoplamazian, president and
chief executive officer, Hyatt. “Guided by our purpose of care, we
believe our most exciting chapter is ahead of us, and we are
committed to reinforcing our position as the preferred hospitality
brand.”
Since going public, Hyatt has experienced remarkable growth; its
portfolio of hotels has nearly tripled while its development
pipeline has quadrupled. This expansion, driven by organic growth,
conversions, and strategic acquisitions funded by real-estate
dispositions, has resulted in Hyatt’s premium portfolio of brands
serving guests at the high-end of each segment.
This has directly translated into significant growth in the
World of Hyatt platform which has quadrupled in membership in the
last five years. With more than 30% more members per hotel than its
larger hotel competitors, the fastest-growing loyalty program in
the industry focuses on more personalized guest care and increased
revenue for owners.
Strategic Growth in Luxury, Resort, and
Lifestyle Portfolios
Hyatt is uniquely positioned in the industry to be the preferred
brand for the high-end guest, driven by significant expansion of
luxury, resort and lifestyle hotels. Since the end of 2017, the
addition of nearly 90,000 rooms in these categories now represents
45% of Hyatt's total portfolio. This growth has doubled the number
of luxury rooms, tripled resort rooms, and quadrupled lifestyle
rooms. By the end of 2025, Hyatt plans to add more than 35 hotels
globally within its diverse collection of luxury brands. Growth
highlights in luxury, resort, and lifestyle portfolios include:
- The Park Hyatt brand is set to enter key global markets in 2024
with Park Hyatt London River Thames (United Kingdom),
Park Hyatt Johannesburg (South Africa), Park Hyatt
Changsha (China) and Park Hyatt Kuala Lumpur (Malaysia).
The brand will also expand its presence in Mexico with Park
Hyatt Cancun and Park Hyatt Los Cabos at Cabo Del
Sol expected to open in 2025, and Park Hyatt Mexico
City, expected to open in 2026.
- Hyatt continues to strengthen its position as the world’s
largest portfolio of luxury all-inclusive resorts, including the
recent launch of the ultra-luxury brand, Impression by Secrets. The
Inclusive Collection is also set to expand brand presence in Europe
with two new market entries in 2024: Zoetry Halkidiki Resort
& Spa in Greece and Dreams Madeira Resort, Spa &
Marina in Portugal.
- The Thompson Hotels brand is also gaining significant momentum
in Europe, with upcoming brand debuts in highly sought-after
destinations such as Thompson Rome (Italy), Thompson
Vienna (Austria) and Thompson Seville (Spain).
Additionally, Hyatt plans to bring the Thompson Hotels brand to
Asia Pacific with Thompson Shanghai Expo (China), expected
to open in 2025. The brand continues to grow across the Americas
with Thompson Houston, Thompson Palm Springs and
Thompson South Beach, all expected to open this year, and
Thompson Puerto Vallarta (Mexico) in 2027.
New Markets and New Developers with
Hyatt Studios
To serve Hyatt’s guest base on more stay occasions and introduce
new guests to the Hyatt portfolio, Hyatt is rapidly growing its
first upper-midscale extended-stay brand in the Americas, Hyatt
Studios. Leveraging Hyatt's proven success in select-service
hotels, the Hyatt Studios brand extends the renowned Hyatt
experience and commitment to quality into markets where traditional
Hyatt properties may not be located. Announced just last year, the
Hyatt Studios brand has gained significant interest, with
approximately 200 deals in various stages of negotiation with both
single-unit developers and multi-unit developers, including
executed deals representing approximately 2,000 pipeline rooms
across North America. This is a testament to the desire from both
developers and guests for a Hyatt brand that can operate in
secondary, suburban and tertiary markets alike.
Upcoming properties, nearly half of which represent new markets
for Hyatt and deals with first-time Hyatt owners, include:
- Hyatt Studios Foley in Alabama
- Hyatt Studios Huntsville in Alabama
- Hyatt Studios Mobile / Tillman’s Corner in Alabama
- Hyatt Studios Marysville in California
- Hyatt Studios Murrieta in California
- Hyatt Studios Denver Airport 68th & Yampa in Colorado
- Hyatt Studios Bensenville in Illinois
- Hyatt Studios Greenwood in Indiana
- Hyatt Studios Kokomo in Indiana
- Hyatt Studios Louisville in Kentucky
- Hyatt Studios Portland ME Airport in Maine
- Hyatt Studios Flowood in Mississippi
- Hyatt Studios Mississauga in Ontario, Canada
- Hyatt Studios Knoxville Cedar Bluff in Tennessee
- Hyatt Studios Sevierville in Tennessee
- Hyatt Studios Texarkana in Texas
Global Expansion: Brand Growth Across
All Collections
“In many cases, we’re working with owners who either own or plan
to develop properties across all four of our brand portfolios,”
said Jim Chu, executive vice president and chief growth officer,
Hyatt. “Our growth is only possible because of our strong
relationships with both managed and franchised owners. Whether it’s
winning deals in highly competitive markets like Park City, Utah
with Grand Hyatt Deer Valley or innovating with one-of-a-kind
projects like Grand Hyatt Kuwait Residences, we work tirelessly to
be the preferred brand for owners and developers.”
Independent Collection hotels are all unique – from
storied properties and vibrant neighborhood locales to immersive
retreats. Growth updates include:
- The Unbound Collection by Hyatt brand is growing globally,
including Hotel Flüela Davos, which opened in 2023 as the
brand’s entry into Switzerland and the only European Hyatt property
in an alpine ski destination. Additionally, Kennedy 89 in
Frankfurt, Germany is slated for fall of 2024 and The Keraton at
the Plaza in Jakarta is slated for 2025, which will mark the
debut of The Unbound Collection by Hyatt brand in Indonesia.
- The JdV by Hyatt brand, which includes the exclusive
collaboration with Lindner Hotels, will expand further in Germany
this year with me and all hotel berlin east side and
Lindner Hotel Boltenhagen, which opened in October 2023. The
JdV by Hyatt brand is a prime opportunity for boutique conversions
and continues to extend Hyatt’s brand presence in new markets such
as Southampton, NY with the Bentley Hotel slated to open in
2024.
- The Destination by Hyatt brand is expected to debut in Canada
this summer in the year-round outdoor adventure destination of
Ramara, Ontario, as well as in Saint Lucia with Cas En Bas Beach
Resort, expected to open in 2024 as the first Destination by
Hyatt branded resort and residences on the island.
Timeless Collection hotels deliver the comforts of a home
away from home with a consistently elevated experience. Expansion
of the collection is expected around the following:
- Fueled by a recent brand refresh, the Hyatt Regency brand will
continue its growth with Hyatt Regency Panama City, the
first Hyatt Regency hotel in Panama, expected to open in 2024.
- The Grand Hyatt brand is entering new destinations with the
recently opened Grand Hyatt Kuwait Residences pioneering
residential offerings in the country, and the highly anticipated
Grand Hyatt Deer Valley, expected to open later this year as
the newest luxury hotel in the famed ski destination of Park City,
Utah. Grand Hyatt Mexico Santa Fe is slated to open in 2025,
as the first urban Grand Hyatt property in Mexico and Grand
Hyatt Los Cabos (Mexico) is expected in 2026.
- The Hyatt Place and Hyatt House brands continue to be key
organic drivers for Hyatt across the globe. In Asia Pacific, the
brands are marking the first entry into new cities with Hyatt
Place Kuala Lumpur Bukit Jalil (Malaysia), which opened in the
fall 2023, and Hyatt Place Ha Long Bay Bai Chay (Vietnam),
Hyatt Place Makassar (Indonesia), and Hyatt House
Tokyo Shibuya (Japan) – all expected to open before 2025. In
the United Kingdom, Hyatt Place Leeds and Hyatt House
Leeds will be the city’s first dual-branded Hyatt development
(opening in fall of 2024), and in North America, new Hyatt Place
and Hyatt House hotels are expected to open soon in key U.S.
leisure markets such as Orlando, Fla., Raleigh, NC, Mariposa,
Calif. near Yosemite, Casper, Wyo., Nashville, Tenn. and Daytona
Beach, Fla. In Latin America, Hyatt Place Piedras Negras
(Mexico), is expected to open in 2026, and Hyatt Place San Jose
Cariari (Costa Rica) is expected to open in 2025.
Boundless Collection hotels deliver best-in-class
offerings and compelling experiences designed to excite and
inspire. New properties in global markets include:
- The Hyatt Centric brand is expected to expand in Canada with
Hyatt Centric Toronto City Centre, anticipated to open this
summer, Hyatt Centric Victoria – Old Town slated to open in
2026, and Hyatt Centric Winnipeg Downtown, an adaptive reuse
project slated for 2025. The brand will debut in new Asia Pacific
markets in 2024 with Hyatt Centric Zhongshan Park Shanghai
(China) and Hyatt Centric City Centre Kuala Lumpur
(Malaysia), a 311-room property located on Jalan Sultan Ismail. In
Latin America, the brand will also debut in two countries with
Hyatt Centric Escazu San Jose (Costa Rica) and Hyatt
Centric Santo Domingo (Dominican Republic) – both expected to
open in 2024. In 2025, Hyatt will add a hotel in a new market in
Mexico with Hyatt Centric Queretaro.
- The Caption by Hyatt brand continues to gain momentum globally
with the brand’s planned debut in Asia Pacific with Caption by
Hyatt Zhongshan Park Shanghai (China) and in Japan Caption
by Hyatt Namba Osaka in 2024, followed by Caption by
Hyatt Kabutocho Tokyo in 2025. In addition, Caption by Hyatt
brand presence in Tennessee continues to grow with Caption by
Hyatt Downtown Nashville/The Gulch, expected to open in 2025,
and Caption by Hyatt Chattanooga Downtown, expected to open
in 2026.
- Through the integration of Dream Hotel Group, 2024 is expected
to bring Dream Valle de Guadalupe, the brand’s first
property in Mexico and a new market for Hyatt.
Inclusive Collection resorts deliver immersive, elevated
experiences where everything is seamlessly included. Upcoming
expansion includes:
- Secrets Resorts & Spas is expected to expand its footprint
in Mexico and the Caribbean in 2024 with Secrets Tides Punta
Cana (Dominican Republic), a 668-suite seaside haven in Uvero
Alto, and Secrets Playa Blanca Costa Mujeres, a 507
all-suite resort 12 miles north of Cancun in Mexico.
- Dreams Resorts & Spas is expected to add two new resorts in
Mexico in 2024 with the upcoming Dreams Grand Island in
Cancun and Dreams Estrella Del Mar Mazatlan, a 350-room
property, which also marks a new destination for the brand.
- Hyatt Vivid Grand Island, which will be the first
property under the recently announced adults-only Hyatt Vivid
brand, is expected to open in 2024 adjacent to Dreams Grand Island,
combining 19 culinary concepts, a 26,000 square foot spa, multiple
pools, a beach club, and more.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Hotels
Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of September 30, 2023, the
Company’s portfolio included more than 1,300 hotels and
all-inclusive properties in 76 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt
Place®, Hyatt House®, Hyatt Studios, and
UrCove; the Boundless Collection, including Miraval®,
Alila®, Andaz®, Thompson Hotels®, Dream®
Hotels, Hyatt Centric®, and Caption by Hyatt®;
the Independent Collection, including The Unbound Collection by
Hyatt®, Destination by Hyatt®, and JdV by Hyatt®;
and the Inclusive Collection, including Impression by
Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels
& Resorts®, and Sunscape® Resorts & Spas.
Subsidiaries of the Company operate the World of Hyatt® loyalty
program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation
Club®, Amstar DMC destination management services, and Trisept
Solutions® technology services. For more information, please visit
www.hyatt.com.
Forward-Looking
Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements include statements about our plans, strategies, outlook,
the number of properties we expect to open in the future and the
expected timeline for such openings, the growth of the World of
Hyatt loyalty program, pipeline growth and overall growth
expectations for 2024 and beyond, prospects or future events and
involve known and unknown risks that are difficult to predict. As a
result, our actual results, performance or achievements may differ
materially from those expressed or implied by these forward-looking
statements. In some cases, you can identify forward-looking
statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered reasonable by us and our management, are
inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: general economic uncertainty in key global markets and
a worsening of global economic conditions or low levels of economic
growth; the rate and the pace of economic recovery following
economic downturns; global supply chain constraints and
interruptions, rising costs of construction-related labor and
materials, and increases in costs due to inflation or other factors
that may not be fully offset by increases in revenues in our
business; risks affecting the luxury, resort, and all-inclusive
lodging segments; levels of spending in business, leisure, and
group segments, as well as consumer confidence; declines in
occupancy and average daily rate; limited visibility with respect
to future bookings; loss of key personnel; domestic and
international political and geo-political conditions, including
political or civil unrest or changes in trade policy; hostilities,
or fear of hostilities, including future terrorist attacks, that
affect travel; travel-related accidents; natural or man-made
disasters, weather and climate-related events, such as earthquakes,
tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil
spills, nuclear incidents, and global outbreaks of pandemics or
contagious diseases, or fear of such outbreaks; the long-term
effects of the COVID-19 pandemic, including with respect to global
and regional economic activity, travel limitations or bans, the
demand for travel, transient and group business, and levels of
consumer confidence; our ability to successfully achieve certain
levels of operating profits at hotels that have performance tests
or guarantees in favor of our third-party owners; the impact of
hotel renovations and redevelopments; risks associated with our
capital allocation plans, share repurchase program, and dividend
payments, including a reduction in, or elimination or suspension
of, repurchase activity or dividend payments; the seasonal and
cyclical nature of the real estate and hospitality businesses;
changes in distribution arrangements, such as through internet
travel intermediaries; changes in the tastes and preferences of our
customers; relationships with colleagues and labor unions and
changes in labor laws; the financial condition of, and our
relationships with, third-party property owners, franchisees, and
hospitality venture partners; the possible inability of third-party
owners, franchisees, or development partners to access the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations; failure to successfully
complete proposed transactions (including the failure to satisfy
closing conditions or obtain required approvals); our ability to
successfully execute on our strategy to expand our management and
franchising business while at the same time reducing our real
estate asset base within targeted timeframes and at expected
values; declines in the value of our real estate assets; unforeseen
terminations of our management or franchise agreements; changes in
federal, state, local, or foreign tax law; increases in interest
rates, wages, and other operating costs; foreign exchange rate
fluctuations or currency restructurings; risks associated with the
introduction of new brand concepts, including lack of acceptance of
new brands or innovation; general volatility of the capital markets
and our ability to access such markets; changes in the competitive
environment in our industry, including as a result of the COVID-19
pandemic, industry consolidation, and the markets where we operate;
our ability to successfully grow the World of Hyatt loyalty program
and Unlimited Vacation Club paid membership program; cyber
incidents and information technology failures; outcomes of legal or
administrative proceedings; violations of regulations or laws
related to our franchising business and licensing businesses and
our international operations; and other risks discussed in the
Company's filings with the SEC, including our annual report on Form
10-K, which filings are available from the SEC. All forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by the cautionary statements
set forth above. We caution you not to place undue reliance on any
forward-looking statements, which are made only as of the date of
this press release. We do not undertake or assume any obligation to
update publicly any of these forward-looking statements to reflect
actual results, new information or future events, changes in
assumptions or changes in other factors affecting forward-looking
statements, except to the extent required by applicable law. If we
update one or more forward-looking statements, no inference should
be drawn that we will make additional updates with respect to those
or other forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240119681266/en/
Media Contact Dana
Fioravanti dana.fioravanti@hyatt.com
Investor Contact Tara Louise
Atwood tara.atwood@hyatt.com
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