Hyatt to add 45 new hotels to its portfolio in the next 2 years
Hyatt to add 45 new hotels to its portfolio in the next 2 years
By 2023, Hyatt is expected to expand its brand footprint in 11 new leisure markets, in addition to growing its hotel presence in key resort, all-inclusive, and urban destinations
CHICAGO, IL, 2022-Jan-26 — /Travel PR News/ — Hyatt Hotels Corporation (NYSE: H) today (January 24, 2022) announced plans to accelerate its brand growth in the Americas region with a strong pipeline of expected hotel openings through 2023. Fueled by growing leisure travel demand, 45 hotels are expected to join Hyatt’s portfolio of brands, including Apple Leisure Group’s (ALG) AMRTM Collection brands, in 2022 and 2023 in key resort, all-inclusive and sought-after urban destinations. In addition, Hyatt has signed management and franchise agreements for hotels in 11 new markets and 19 existing markets across the Americas.
“Listening to our guests, World of Hyatt members, and customers has never been more important. As we continue in our recovery from the pandemic, we remain very intentional about where the Hyatt brand footprint grows to ensure we’re present in markets that matter most to the leisure-focused traveler of today and tomorrow,” said Jim Chu, Hyatt’s executive vice president, global franchising and development. “Our pipeline of new properties signals that Hyatt is well poised to deliver against the demand for more leisure travel experiences in places like Cozumel, Panama City, Punta Cana, and South Beach, and priority urban destinations, including Denver, Montréal, Oakland, and Memphis, which will welcome the first Caption by Hyatt hotel.”
Debuting New Hyatt Brands in New Markets
To continue driving brand awareness and World of Hyatt loyalty program growth, Hyatt expects to thoughtfully expand its brand footprint in the Americas through 2023 in 11 new markets with hotel openings under the Dreams, Hyatt Centric, Hyatt House, Hyatt Place, Hyatt Regency, The Unbound Collection by Hyatt, and Thompson Hotels brands. These new destinations will position Hyatt to capture leisure demand in the markets that matter most to guests, loyalty members, and customers.
They include:
2022
2023
Expanding Access to Resorts and All-Inclusive Experiences
Leisure travel continues on an upward trajectory with a notable, strong desire for resort and all-inclusive experiences. The end of 2021 and early 2022 showed elevated demand for leisure travel with multiple resorts reaching record RevPAR levels within the United States. Further, with the recent acquisition of ALG, the combined company will offer one of the largest portfolios of luxury all-inclusive resorts in the world and luxury hotels in Mexico and the Caribbean. Through 2023, Hyatt plans to significantly expand its resort and all-inclusive portfolio, which includes the AMR Collection brands Secrets and Dreams, with expected openings across the Americas, including:
2022
2023
Growing in Urban Destinations
Late 2021 showed strengthening travel demand among urban leisure and drivable destinations. Kicking off 2022 and throughout 2023, Hyatt hotels are expected to open in sought-after city locales across the Americas, including the brand debut and opening of the first Caption by Hyatt hotel in Memphis. They include:
2022
2023
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, 2021, Hyatt’s portfolio included more than 1,000 hotel and all-inclusive properties in 69 countries across six continents, and the acquisition of Apple Leisure Group added 96 properties in 10 countries as of November 1, 2021. Hyatt’s offerings include the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas. Hyatt’s subsidiaries operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and the Trisept Solutions® travel technology platform. 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. 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 consummation of the Apple Leisure Group (“ALG”) acquisition, including the related incurrence of material additional indebtedness; our ability to successfully integrate ALG’s employees and operations into ours; the ability to realize the anticipated benefits of the acquisition of ALG as rapidly or to the extent anticipated; the duration of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and longer-term effects of the COVID-19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution and efficacy of COVID-19 vaccines and wide acceptance by the general population of such vaccines; 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; 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; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and all-inclusive 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, such as the COVID-19 pandemic, 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 and 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 ALG’s membership offering; 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.
MEDIA CONTACT:
Siân Rylander
Hyatt
sian.rylander@hyatt.com
Source: Hyatt Hotels Corporation
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