Growth in lifestyle and resort segments, and
the new upper-midscale Hyatt Studios brand, further expands Hyatt’s
footprint in new markets while deepening World of Hyatt member
loyalty and attracting new guests
Hyatt Hotels Corporation (NYSE: H) highlighted today that its
pipeline has grown by nearly 85 percent since 2017, reaching a
record 129,000 rooms. This significant growth highlights the strong
preference of hotel owners and the strength of the Hyatt brand.
Hyatt’s commitment to creating the preferred portfolio for high-end
guests has resulted in doubling luxury rooms, tripling resort
rooms, and quintupling lifestyle rooms since 2017.
“Hyatt’s ability to lead the industry in net rooms growth for
seven years is a result of our unique approach to development,"
said Mark Hoplamazian, president and chief executive officer,
Hyatt. "We strategically expand our portfolio of brands,
intentionally selecting new and existing markets to enhance our
network effect for owners and guests. Our commitment to thoughtful
organic growth and strategic acquisitions amplifies our asset-light
business model. Our goal is not to be the largest hospitality
company, but the company most valued by colleagues, guests, and
owners.”
Additionally, the award-winning World of Hyatt loyalty program
has quadrupled its membership since 2017 and is up 22% as of the
end of the first quarter of 2024 compared to the same period last
year, reaching 46 million members globally. World of Hyatt also has
30 percent more members per hotel than its larger competitors.
Lifestyle brands fueling growth,
introducing Hyatt to new markets and new guests
Consumers continue to prioritize discretionary spending on
experiences with leisure travel demand remaining resilient.
Lifestyle hotels create a holistic experience that excites the
senses with food and beverage, art, music and programming that is
constantly evolving, presenting an enticing proposition for
consumers. Hyatt’s upcoming lifestyle property openings and
rebrandings include:
Americas:
- The Bentley Hotel Southampton (now open) After
undergoing a full renovation, the property will be the first
Hyatt-branded hotel in the Hamptons when it joins the JdV by Hyatt
brand in September.
- Thompson Palm Springs (expected to open in September
2024) will debut a collection of 168 bungalow-inspired guest rooms
and suites in the heart of the city’s design district. The highly
anticipated hotel is accepting reservations for stays beginning
September 5, 2024, and will feature spirited dining concept, Lola
Rose Grand Mezze and HALL Napa Valley’s inaugural tasting
room.
- Andaz Miami Beach (expected to open by end of 2024),
previously The Confidante Miami Beach, will be the first Andaz
hotel in Florida and is undergoing a property-wide
multi-million-dollar redesign. The fully reimagined resort will
offer guests new immersive dining experiences by the José Andrés
Group.
- Thompson Miami Beach (expected to open in late 2024)
will overlook Soundscape Park and feature a rooftop pool,
restaurant, and bar, in an iconic exterior conceptualized by
renowned French architect Rudy Ricciotti and designer Atelier Gulla
Jonsdottir.
- The Legend Paracas Resort (expected to open in 2024)
will join the Destination by Hyatt brand in 2024 marking the
introduction of the brand in South America. Located on the coast of
Peru about three hours south of Lima, the resort is nestled between
the Paracas Natural Reserve and the Pacific Ocean, offering
panoramic views of Paracas Bay and rugged desert hills.
- The Digby (expected to open in 2025) will be the first
property to join The Unbound Collection by Hyatt brand in Georgia
and will be located on Savannah’s Ellis Square, steps from
attractions including City Market, River Street, and world-class
shopping and dining.
- Hyatt Centric San Juan Isla Verde (expected to open in
2025) will be the first Hyatt Centric branded hotel in Puerto Rico,
located in the buzzy Isla Verde neighborhood, one block away from
Isla Verde Beach and walking distance to restaurants, shopping,
historical landmarks and nightlife.
- Andaz Turks & Caicos at Grace Bay (expected to open
in 2026) will mark the first Hyatt hotel on the island of Turks
& Caicos and the first Andaz hotel in the Caribbean. The 5.5+
acre resort will offer three restaurants and bars, an elevated
rooftop venue and full array of lifestyle amenities.
- Thompson Monterrey (expected to open in 2026) will be
the first urban Thompson Hotel property in Mexico. The hotel will
be part of Torre IKON, a mixed-use 31-story tower set to be one of
the most iconic high-rise buildings in the San Pedro Garza García
neighborhood.
Europe, Africa and Middle East (EAME):
- me and all Berlin East Side (expected to open August
2024) represents one of the first deals with Lindner Hotel Group
following the collaboration agreement in October 2022. Featuring
223 guest rooms, me and all Berlin East Side will be a part of the
JdV by Hyatt collection.
- Hyatt Centric Cairo West (expected to open late 2024)
will be the second Hyatt hotel in Cairo and boast 301 rooms in the
city’s western end, close to major business hubs and key tourist
attractions.
- Andaz Doha (expected to open late 2024), a 312-room
hotel nestled in the prestigious West Bay area of the city will
mark the first Andaz branded hotel in Qatar.
- Thompson Rome (expected to open in mid-2025) will be a
70-room property situated in the heart of Rome. It will be the
first Thompson branded hotel in Italy and located in the historic
building that once housed the Italian Communist Party.
- Thompson Seville (expected to open in 2026) will be the
first Hyatt hotel in Seville and the fourth planned Thompson
branded hotel in Europe.
Asia Pacific (ASPAC):
- Andaz One Bangkok (expected to open in 2025) marks the
first Andaz branded hotel in Bangkok and will be a part of the
prestigious One Bangkok, Thailand’s largest integrated development
in a central business district.
- Thompson Shanghai Expo (expected to open in Q2 2025)
will be the first Thompson branded hotel in Asia Pacific and will
be at Expo Park Shanghai, an ideal location for business travelers,
trade show attendees, and leisure travelers alike.
- The Caption by Hyatt brand has just made its debut in
Asia Pacific with the opening of Caption by Hyatt Zhongshan Park
Shanghai in China this April, and will further expand its
presence in several Asia Pacific markets with the launch of
Caption by Hyatt Namba Osaka in Japan (expected to open in
June 2024), as well as the openings in 2025 of Caption by Hyatt
Ba Son Saigon in Vietnam,, Caption by Hyatt Kabutocho
Tokyo in Japan, and Caption by Hyatt Sydney Capitol
Square in Australia.
- The Hyatt Centric brand continues its growth with openings
including Hyatt Centric Ocean Front Xiamen in China
(expected to open in early 2025), Hyatt Centric City Centre
Kuala Lumpur in Malaysia (2025), Hyatt Centric Electronic
City Bangalore in India (early 2026) and Hyatt Centric
Sapporo in Japan (2026).
Additionally in the Asia Pacific region, ATONA, the
modern hot spring ryokan (Japanese-style inn) brand announced in
2022 under a joint venture between a Hyatt affiliate and Kiraku, is
expected to open its first properties in 2026 across some of
Japan’s top hot spring destinations and areas of natural beauty,
including Yufu, Yakushima, and Hakone. ATONA is Hyatt’s first brand
to originate from Japan and will offer sophisticated, worldly
travelers a rich cultural experience connecting them to local
Japanese communities.
Hyatt Studios brand accelerates growth
with more than 250 deals and the groundbreaking of second
location
The Hyatt Studios brand, Hyatt’s entry into the upper-midscale
extended-stay segment, now has over 250 deals in various stages of
negotiation, including with several owners who have either signed
or are in negotiation to sign development rights agreements for
five or more locations each. The brand just celebrated the second
Hyatt Studios groundbreaking for a location in Huntsville,
Alabama.
Setting the brand apart from its competition, each Hyatt Studios
hotel will offer a best-in-class 24/7 marketplace, free high-speed
internet and streaming, EV charging stations, and simplified
technology that further enhances the brand’s efficient operating
model.
With over 3,000 rooms in the pipeline, Hyatt Studios hotels
represent several new submarkets for Hyatt. Since Hyatt’s last
announcement in late-2023, Hyatt has executed agreements for the
following deals:
- Hyatt Studios Barrie, Ontario (Canada)
- Hyatt Studios Front Royal (Virginia)
- Hyatt Studios Oxford (Mississippi)
- Hyatt Studios Chesapeake (Virginia)
- Hyatt Studios Charlottesville (Virginia)
- Hyatt Studios Jacksonville Town Center (Florida)
- Hyatt Studios Billings (Montana)
- Hyatt Studios El Centro (California)
- Hyatt Studios Lehigh Valley (Pennsylvania)
- Hyatt Studios Pooler Savannah Airport (Georgia)
- Hyatt Studios Harrisonburg (Virginia)
- Hyatt Studios Ridgeland (Mississippi)
Grand Hyatt is expected to expand by
more than 10 locations over the next two years
Known for its world-class dining, luxurious spas, fitness
centers, bold architecture and captivating settings for meetings
and events, the Grand Hyatt brand creates exceptional
experiences for all guests at the intersection of local culture and
global business. Key rebrands and developments in priority markets
across the globe include:
Rebrands & Renovations:
- Grand Hyatt Indian Wells Resort & Villas (expected
to rebrand in September 2024) will rebrand from Hyatt Regency
Indian Wells Resort & Spa after an extensive $60 million
renovation, including transformed guest rooms, suites, and luxury
villas, as well as new restaurant concepts and an enhanced pool
experience.
- Grand Hyatt Scottsdale Resort (expected to rebrand in
late 2024) will be the first Grand Hyatt hotel in Arizona after
undergoing a $110 million renovation to transform and rebrand from
Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch.
- Grand Hyatt Singapore is slated to reopen in phases from
Q3 2024 following extensive renovations.
New Builds:
- Grand Hyatt Kunming (expected to open August 2024) – a
331-room property located in the capital and largest city of Yunnan
Province, China, just steps away from iconic landmarks like the
Golden Horse and Jade Rooster Archway.
- Grand Hyatt Deer Valley (expected to open in late 2024)
will mark the debut of the Grand Hyatt brand in Utah and will be
located at the famed Deer Valley Resort in the highly anticipated
Deer Valley East Village.
- Grand Hyatt Grand Cayman Hotel & Residences
(expected to open in 2025) will mark the first Grand Hyatt branded
hotel in the Cayman Islands and offer 351 guestrooms and nearly
10,000 sq. ft of indoor meeting space ideally situated on Grand
Cayman’s famous Seven Mile Beach.
- Grand Hyatt Mexico City Santa Fe (expected to open in
2025) – this 275-room hotel will be the first urban Grand Hyatt
property in Mexico and the second Grand Hyatt hotel in the
region.
- Grand Hyatt The Red Sea (expected to open in 2025) –
this 430-room hotel will be the first Grand Hyatt property on
Shaura Island, the hub of the ambitious Red Sea Project on Saudi
Arabia’s west coast.
- Grand Hyatt Los Cabos (expected to open in 2026) will
mark the first Grand Hyatt hotel in Mexico’s Baja California Sur,
situated within the OLEADA Pacific Living & Golf private resort
community. This property will offer 1,200 acres of luxury
experiences with approximately 20,000 sq ft of indoor meeting space
in addition to an outdoor event lawn and a world-class 18-hole golf
course designed by Golf Hall of Famer, Ernie Els.
- Grand Hyatt St. Lucia (expected to open in 2026) will
offer 345 rooms and be the first Grand Hyatt hotel on the island.
The property will feature more than 20,000 sq ft of meeting space
to accommodate meetings and events of any size.
Hyatt’s Inclusive Collection creates
more travel opportunities for leisure guests, groups, and World of
Hyatt members in new markets
Hyatt’s Inclusive Collection delivers unparalleled
experiences with the luxuries and conveniences offered by an
all-inclusive. As of the end of Q1, Hyatt’s Inclusive Collection
resorts grew to approximately 41,412 rooms across 124 properties,
further enhancing Hyatt’s position as the world’s largest portfolio
of luxury branded rooms in resort locations. With 10 distinct
brands providing personalized hospitality through exceptional
service, immersive dining, and more, the collection continues to
expand in new and exciting destinations.
- Dreams Madeira Resort Spa & Marina (expected to open
in 2024) will mark the entry of Hyatt’s Inclusive Collection into
Portugal and feature 366 guestrooms, ranging from standard rooms to
luxury villas, as well as an onsite private beach and marina.
- Secrets Playa Esmeralda Punta Cana (expected to open in
2024) – situated on the northeast coast of the Dominican Republic
in Miches, this intimate, adults-only resort will feature nine
gourmet dining options, including six à la carte restaurants, a
buffet, a cafe, a grill by the pool, beach, and a private lounge
for Preferred Club guests.
- Secrets Baby Beach Aruba (expected to open in 2025) –
this adults-only resort will mark the debut of Hyatt’s Inclusive
Collection on the island. Situated alongside Baby Beach, a popular
white-sand lagoon close to San Nicolas, the resort will boast
architecture that blends into the landscape, offering stunning
views of the region.
To learn more about Hyatt’s development projects, visit:
https://www.hyatt.com/development/
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 March 31, 2024, the
Company's portfolio included more than 1,300 hotels and
all-inclusive properties in 78 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 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
geopolitical 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; 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 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 our strategy to expand our management and
hotels services and franchising business while at the same time
reducing our real estate asset base within targeted timeframes and
at expected values; our ability to maintain effective internal
control over financial reporting and disclosure controls and
procedures; declines in the value of our real estate assets;
unforeseen terminations of our management and hotels services 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, 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; and 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/20240603027107/en/
Media Contact Rebecca Smith
Rebecca.smith1@hyatt.com
Investor Relations Contact
Tara Louise Atwood tara.atwood@hyatt.com
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