Hyatt's transformative growth continues with
planned acquisition of Dream Hotel Group, global expansion of
Caption by Hyatt brand and organic growth of Hyatt’s global
portfolio
Hyatt Hotels Corporation (NYSE: H) shared today that Hyatt is
positioned for continued transformative growth in 2023 and beyond
with a record pipeline of approximately 117,000 rooms worldwide as
of year-end 2022. Notably, nearly one in four pipeline properties
is classified as a lifestyle hotel, representing 10 percent of the
existing base of hotels, further strengthening Hyatt’s leadership
position in the luxury, lifestyle and leisure segments. The
significant growth of these high-value properties in Hyatt’s
portfolio expands the compelling guest experiences that can further
drive World of Hyatt loyalty penetration across the Hyatt
portfolio.
A notable driver of this growth is the announced asset-light
acquisition of Dream Hotel Group’s lifestyle hotel brand and
management platform which is expected to bring established
lifestyle hotel brands – including Dream Hotels, Unscripted Hotels
and The Chatwal – into the Hyatt portfolio. Dream Hotel Group
properties are known for their experiential hospitality including
hotspot restaurants and nightlife venues built on strategic and
unconventional programming and brand collaborations, paired with
signature designs that balance substance with sizzle. The
acquisition will welcome more than 600 new colleagues into the
Hyatt family, bringing deep expertise in experiential hospitality
to Hyatt’s global portfolio of lifestyle offerings and extending
Hyatt’s brand footprint in strategic destinations including
Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha and
New York City. It will also mark the entrance of Hyatt brands into
markets such as the Catskills in New York and Valle de Guadalupe in
Mexico.
Additionally, the Caption by Hyatt brand – which combines the
design and comfort of an upscale, lifestyle-forward hotel with the
flexibility of a select-service property – is poised for
significant growth following the successful opening of Caption by
Hyatt Beale Street Memphis in 2022. The brand is expected to grow
its presence in Tennessee with Caption by Hyatt Chattanooga in
collaboration with 3H Group (expected for 2024) and enter
California with both Caption by Hyatt Roseville in collaboration
with LRE & Companies and American Hospitality Services, Inc.
and Caption by Hyatt Sacramento in collaboration with Presidio
Hotel Development LLC and 29th Street Capital (both expected for
2026). The Caption by Hyatt brand is expanding internationally with
previously announced properties expected to open in China and Japan
in 2023, Vietnam in 2025 and Sydney in the coming years. Grounded
in caring for people and place and creating connections between
them, the Caption by Hyatt brand is committed to hiring diverse
talent, vendors, artisans, and suppliers – and celebrating the
diversity of people in the communities in which Caption by Hyatt
hotels are located.
“Through our intentional long-term growth strategy and by
working closely with owners, Hyatt boasts five years of
industry-leading organic net rooms growth,” said Jim Chu, executive
vice president, chief growth officer, Hyatt. “Owners want to work
with us because of our expertise, performance track record and
optimal positioning in the industry. We have global scale, but we
are nimble enough to create personal relationships, draw on our own
experiences and lead with empathy.”
New Luxury, Lifestyle & Leisure Properties in Prominent
Markets
Hyatt anticipates additional organic growth across its luxury,
lifestyle and leisure offerings, bringing thoughtful design,
innovative food and beverage and personalized service around the
globe.
The Park Hyatt brand is set to:
- Reestablish its presence in South Africa
with Park Hyatt Johannesburg in late 2023 and make its entrance to
Morocco with Park Hyatt Marrakech, offering luxury resort elegance
with Moroccan charm.
- Return to London with Park Hyatt London
River Thames and expand in the Asia Pacific region with Park Hyatt
Taipei (Taiwan), Park Hyatt Kuala Lumpur (Malaysia) and Park Hyatt
Phu Quoc (Vietnam) in 2024.
In 2023, the Andaz brand will celebrate expansion into new
markets with:
- Andaz Doha in Qatar, which will bring
locally inspired design and contemporary art to a new level,
offering guests signature touchpoints and innovative dining outlets
including a South African signature restaurant and a Singaporean
street food restaurant.
- Andaz Pattaya Jomtien Beach in Thailand
will deliver a lush and secluded beachfront retreat providing
myriad ways for guests to connect with the local Thai culture, from
destination excursions to authentic dining, wellness and family
activities.
- Andaz Mexico City Condesa, which connects
Mexican culture with its traditional architecture and imaginative
décor, recently opened its doors in January.
- Andaz Macau, which will be set within one
of Asia’s most iconic and advanced meeting and event destinations –
Galaxy International Convention Center (GICC) – will debut as the
largest Andaz hotel in the world with more than 700 rooms and
suites.
- Andaz Nanjing Hexi in Greater China, which
will blend the eclectic spirit of the modern Nanjing and the long
history of the prosperous academic culture.
Hyatt’s Boundless Collection and Independent Collection, which
range from upscale to luxury lifestyle brands, feature a healthy
pipeline of expected openings in 2023 and 2024 including:
- Growth of the Thompson Hotels brand with
two chic urban oases set to debut with Thompson Palm Springs and
Thompson Houston.
- Expansion of the Hyatt Centric brand in
prime destinations that connect guests to the heart of the action,
including Hyatt Centric Congress Avenue Austin, Hyatt Centric
Zhongshan Park Shanghai, and Hyatt Centric Xi’an Gaoxin.
- The anticipated debut of the Destination by
Hyatt brand in Florida with the verdant 18-hole signature golf
resort Banyan Cay Resort & Golf in West Palm Beach, as well as
in Asia Pacific with The Grand Resort in Qingchengshan, China.
- The planned debut of the JdV by Hyatt brand
in Rhode Island, with The Pell, a vibrant coastal hotel located in
the middle of Aquidneck Island in Middletown, and in Goa with the
anticipated opening of Ronil, set on 1.6 acres of coastal land in
Baga, India.
- The anticipated opening of NUMU Boutique
Hotel, part of The Unbound Collection by Hyatt, in San Miguel de
Allende, Mexico.
Introducing All-Inclusive Premier Brands Around the
World
Hyatt offers one of the largest portfolios of luxury
all-inclusive resorts in the world including a healthy pipeline of
expected openings in 2023 spearheaded by growth across Bulgaria’s
popular Black Sea destinations and the recent launch of Secrets
Impression Resorts & Spas, a first-of-its-kind product designed
to deliver the highest level of luxury all-inclusive service and
amenities. This intimate line of boutique, adults-only havens offer
exclusive personalized experiences, butler service and curated
gastronomy designed to exceed expectations. The new line extension
celebrated the opening of Secrets Impression Moxché Playa del
Carmen in December 2022 and expects to welcome its second property,
Secrets Impression Isla Mujeres later this year.
Select Service Growth in Top Vacation Destinations Attracting
Families and Leisure Travelers
With more than 400 Hyatt Place and nearly 130 Hyatt House
properties in top travel destinations across the globe, Hyatt’s
select service brands continue to extend their customer base to
attract leisure travelers and families looking for relaxing,
seamless hotel experiences. The Hyatt House brand recently
underwent a brand refresh to celebrate all travel occasions, long
and short. Travelers staying at Hyatt House hotels globally can
make themselves at home, whether it’s a family getaway, reuniting
with friends or extending a business trip.
Hyatt is expected to add an impressive line-up of Hyatt Place
and Hyatt House properties globally over the coming years including
in key emerging leisure hotspots and business travel destinations
in the U.S. and Canada, such as Hyatt House Traverse City
(Michigan), Hyatt House Bozeman (Montana), Hyatt Place Cape
Canaveral (Florida), Hyatt House Roseville (California), Hyatt
Place Toronto – Downtown/Jarvis Street (Ontario), and Hyatt Place
Mississauga - Airport Corporate Centre (Ontario). Additionally, in
2023 the brands are expected to make their international market
entries in Guyana and Estonia.
For more information about Hyatt hotels, please visit:
www.hyatt.com.
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, 2022, the
Company’s portfolio included more than 1,200 hotels and
all-inclusive properties in 72 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Residence Club®, Hyatt
Place®, Hyatt House®, and UrCove; the Boundless
Collection, including Miraval®, Alila®,
Andaz®, Thompson 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 Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Vivid Hotels & Resorts®, Alua Hotels &
Resorts®, and Sunscape® Resorts & Spas. Subsidiaries
of the Company operate the World of Hyatt® loyalty program, ALG
Vacations®, 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
include statements about Hyatt’s growth plans, expected openings,
pipeline, planned acquisition, and positioning in the luxury,
lifestyle and leisure segments. 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, risks associated with the
acquisition of Apple Leisure Group, including successful
integration of the Apple Leisure Group business; the duration and
severity of the COVID-19 pandemic or any additional resurgence and
the pace of recovery following the pandemic or any additional
resurgence; the short and long-term effects of the COVID-19
pandemic, including on the demand for travel, transient and group
business, and levels of consumer confidence; the impact of actions
taken by governments, businesses, or individuals in response to the
COVID-19 pandemic or any additional resurgence on global and
regional economies, travel limitations or bans, and economic
activity; the ability of third-party owners, franchisees, or
hospitality venture partners to successfully navigate the impacts
of the COVID-19 pandemic or any additional resurgence; 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 such as
earthquakes, tsunamis, tornadoes, hurricanes, 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 property owners, franchisees, and hospitality venture
partners; the possible inability of third-party owners,
franchisees, or development partners to access capital necessary to
fund current operations or implement our plans for growth; risks
associated with potential acquisitions and dispositions and the
introduction of new brand concepts; the timing of 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; 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 other risks discussed in
the Company’s filings with the U.S. Securities and Exchange
Commission (“SEC”), including our annual report on Form 10-K and
our Quarterly Reports on Form 10-Q, which filings are available
from the SEC. These factors are not necessarily all of the
important factors that could cause our actual results, performance
or achievements to differ materially from those expressed in or
implied by any of our forward-looking statements. 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
undertake no 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230120005311/en/
Glennie Janssen Hyatt glennie.janssen@hyatt.com
Hyatt Hotels (NYSE:H)
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