Driven by care for today’s luxury traveler and their wellbeing priorities, Hyatt elevates its leadership position with an intentional growth strategy across its luxury Timeless, Boundless, Independent, and Inclusive Collection brands
CHICAGO–(BUSINESS WIRE)–Hyatt Hotels Corporation (NYSE: H) shared today Hyatt’s strong development pipeline of more than 35 planned luxury hotels and resorts globally through 2025 across the Park Hyatt, Grand Hyatt, Miraval, Alila, Andaz, Thompson Hotels, and The Unbound Collection by Hyatt brands, as well as Inclusive Collection brands Zoëtry Wellness & Spa Resorts and Dreams Resorts & Spas.
While maintaining its asset-light approach, Hyatt has doubled the number of luxury rooms, tripled the number of resort rooms, and quadrupled the number of lifestyle rooms in only five years. With 70% of its rooms categorized as luxury and upper upscale, the Hyatt portfolio has grown to meet increased demands for luxury and resort accommodations while upholding consistent, top-tier quality, personalized experiences, and bespoke service.
At large, travel and tourism are expected to increase by approximately 12% of global GDP by 2033 according to a recent World Travel & Tourism Council report. In turn, Hyatt’s luxury portfolio is expanding to meet that demand in new international markets. This includes the debut of Park Hyatt hotels in the UK, Mexico, and Malaysia; the Thompson Hotel brand’s expansion in Europe with the first properties in Austria and Italy; the Andaz brand’s growth in the Americas with its first hotel in the Caribbean; The Unbound Collection by Hyatt brand’s first properties in the Nordics and India; as well as Hyatt luxury growth in the trending destination of Portugal, with the planned openings of Andaz Lisbon and Dreams Madeira Resort, Spa & Marina.
“The upcoming addition of these new hotels and resorts across our global luxury portfolio in sought-after destinations where travelers want to go most reinforces our leadership in this space,” said Mark Vondrasek, Chief Commercial Officer, Hyatt. “Our continued, purposeful growth in the year ahead will follow an insight-led approach, focused on listening to our guests, customers and World of Hyatt members and their evolving travel needs such as a growing desire for immersive and distinct experiences that prioritize wellbeing.”
A recent Ipsos report found that across Europe, Africa and the Middle East, common factors driving the travel decision-making process are availability of wellbeing offerings (approximately 30% on average) and the opportunity for new experiences (approximately 31% on average). Additionally, through listening to what matters most to guests and members, Hyatt understands that affluent, worldly travelers are seeking luxury hotels that values the purpose of their stay and proactively plan around their needs. In turn, Hyatt luxury hotels take special care in developing one-of-a-kind experiences and excursions curated personally for each guest, including the awe-inspiring, experiential wellbeing programming that they value the most. Notable holistic wellbeing offerings include:
World of Hyatt recently unveiled reimagined program benefits for members, including newly expanded World of Hyatt Milestone Rewards designed to offer more awards and more choice at more milestones, allowing members to choose earning points for future free nights, enhancing stays with suite upgrades As part of this evolution, eligible travel advisors will be offered new pathways to earn status and milestones and are invited to extend care even further with the ability to gift new and exciting Milestone Rewards as well as Globalist status to clients or colleagues.
Hyatt also continues to grow thoughtfully through acquisitions, expanding its portfolio for guests and members with the recently announced acquisition of Mr & Mrs Smith. The integration planned for the near future will unlock direct booking access to hundreds more boutique and luxury hotels including in 20+ countries where there are currently no Hyatt hotels.
“Hyatt’s luxury growth strategy is purposefully ambitious and in the coming years, we will continue to grow with intent through a focus on key leisure destinations, and top-tier brands’ ability to personalize experiences for each guest, member and client, through care,” added Heidi Kunkel, Senior Vice President Commercial Services, EAME. “We value our relationship with travel advisors and look to work together on finding new ways to advance care for them and their clients through the transformative growth of our luxury offerings and evolving World of Hyatt benefits.”
Please see below for a pipeline of Hyatt luxury openings through 2025.
Timeless Collection hotels deliver the comforts of a home away from home with a consistently elevated experience, with exciting openings including:
Boundless Collection hotels that will make their debut and deliver best-in-class offerings and compelling experiences designed to excite and inspire, include:
Independent Collection hotels are all unique – from storied properties and vibrant neighborhood locales to immersive retreats. New openings include:
Inclusive Collection, part of World of Hyatt, resorts deliver immersive, elevated experiences where everything is seamlessly included, with expected new resorts including:
For information on Hyatt’s existing brand portfolio, 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, 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, expected new openings and timing of such openings, travel and tourism demand expectations, prospects or future events and involve known and unknown risks that are difficult to predict. 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 pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, 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; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; 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, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; 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; 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 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.
Contacts
Gloria Kennett
Hyatt
gloria.kennett@hyatt.com
Marie Cazaux
Hyatt – Western Europe
marie.cazaux@hyatt.com
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