Hyatt Hotels Corp. is making significant strides in the all-inclusive sector with a strategic partnership that enhances its portfolio. The hotel giant has entered into a 50/50 joint venture with Grupo Piñero to manage Bahia Principe Hotels & Resorts, which comprises numerous popular locations across the Caribbean and beyond. This collaboration will afford Hyatt ownership of the Bahia Principe brand and establish the Hyatt Inclusive Collection at a substantial 22 resorts, totaling around 12,000 rooms across destinations like the Dominican Republic, Mexico, Jamaica, and Spain.
Strengthening All-Inclusive Offerings
In a move that likely positions Hyatt as a formidable presence in the all-inclusive market, the company aims to leverage Grupo Piñero’s established reputation. According to Hyatt President and CEO Mark Hoplamazian, this partnership not only expands Hyatt’s room offerings but also allows for enhanced growth opportunities targeted at travelers in America and other key markets. The goal is to significantly broaden the Inclusive Collection, which is projected to house more than 140 properties within ten brands globally by the end of the current year.
Leadership Structure in the Joint Venture
The operational leadership of the joint venture will be managed by Bahia Principe’s CEO, Julio Pérez, while Encarna Piñero, the current CEO of Grupo Piñero, will take on the role of Chairman of the Board. This leadership structure aims to ensure smooth operations and strategic guidance as Hyatt seeks to optimize its all-inclusive offerings.
Expanding Horizons with Playa Hotels
In a related development, Hyatt has entered into an exclusivity agreement with Playa Hotels & Resorts, signaling potential acquisition talks that could further boost Hyatt’s all-inclusive ventures. Hoplamazian highlighted Playa’s strong performance in managing all-inclusive resorts, making it a valuable partner for Hyatt’s continued growth in the market.
The All-Inclusive Trend in the Hospitality Industry
Industry trends clearly indicate that major hotel brands are increasingly embracing the all-inclusive model. Marriott International, for example, has ramped up its all-inclusive offerings, moving from seven to 33 properties since its foray into this market. Research by Marriott Bonvoy revealed that 67% of surveyed members expressed a keen interest in all-inclusive hotels, underscoring the demand for such offerings.
Marriott is actively expanding its luxury all-inclusive segment, with plans to introduce Almare, its first luxury all-inclusive property in Mexico, this year. Additionally, the first W Hotel in the Caribbean is set to make its debut as an all-inclusive destination.
All-Inclusive Growth in the Caribbean
The Caribbean remains a focal point for the expansion of all-inclusive properties. For instance, three new Marriott properties recently launched on Barbados’s celebrated Platinum Coast. These include the Treasure Beach by Elegant Hotels, Waves Resort and Spa, and The House by Elegant Hotels, each designed to provide an exceptional all-inclusive experience.
Hilton’s Position in the All-Inclusive Market
While Hilton is not as deeply entrenched in the all-inclusive sector as Hyatt and Marriott, it continues to add properties to its portfolio. The company’s strategy indicates a slow but steady approach to capitalize on the growing interest in all-inclusive accommodations.
Conclusion
The hospitality industry is witnessing a clear shift towards all-inclusive offerings, with major companies like Hyatt and Marriott leading the charge. As travelers increasingly seek convenience and value, the expansion of all-inclusive resorts across popular destinations is expected to shape the future of travel and tourism. For more detailed insights into Hyatt’s latest developments, visit Hotel Management Network and Open Jaw.
