Hyatt Unveils Robust Growth Plans in Europe, Africa, and the Middle East for 2024 and Beyond

AluaSoul Costa Adeje and Palace de Muro, a Destination by Hyatt property, slated to open in Spain this year, further strengthen Hyatt’s rapidly growing lifestyle brand presence in region.

(IN SHORT) Hyatt Hotels Corporation announced its ambitious growth strategy for 2024 and beyond in the Europe, Africa, and Middle East (EAME) region, reflecting a record year of deal signings in 2023. The hotelier’s pipeline includes 127,000 rooms worldwide as of the end of 2023, representing nearly 40% of its existing portfolio. Key markets in the pipeline include Spain, the United Kingdom, Italy, Portugal, and Greece. Among the planned projects is AluaSoul Costa Adeje in Tenerife and Palace de Muro in Alcúdia, Mallorca, both set to open by the end of 2024. These developments, in collaboration with Stoneweg, highlight Hyatt’s commitment to expanding its brand presence in the region and catering to evolving guest preferences, including the all-inclusive segment.

(PRESS RELEASE) Chicago, IL, 2024-Jan-26 — /Travel PR News/ — Hyatt Hotels Corporation (NYSE: H) highlighted Hyatt’s expected growth trajectory for 2024 and beyond, across Europe, Africa and the Middle East (EAME), underscored by a record year of deal signings in 2023. Hyatt’s commitment to be the preferred brand for guests, customers and owners has resulted in a record pipeline of 127,000 rooms worldwide as of year-end 2023, with key markets including Spain, the United Kingdom, Italy, Portugal, and Greece. This record pipeline represents nearly 40% of existing rooms in the Hyatt portfolio.

Hyatt’s strategic brands growth includes plans for AluaSoul Costa Adeje, which will be an Inclusive Collection resort located in Tenerife, the largest of Spain’s Canary Islands, and Palace de Muro, which will be a Destination by Hyatt property in the historic town of Alcúdia, Mallorca by the end of 2024. These latest planned projects in Spain, under Stoneweg’s ownership, build on another record year of brand growth for Hyatt in the region.

“We are incredibly pleased with the scaled growth we have been able to achieve for our brands throughout Europe, Africa and the Middle East in 2023,” said Javier Águila, group president EAME, Hyatt. “Guided by our purpose of care, we believe our most exciting chapter is ahead of us, and we are committed to reinforcing our position as the preferred hospitality brand amongst guests, customers and owners.

AluaSoul Costa Adeje, a 226-room resort, is slated to open in the last quarter of the year following an extensive renovation. The Inclusive Collection property is located on the beaches of the Adeje coast, in the South of Tenerife, and is ideal for guests seeking a fun-filled getaway. Palace de Muro, which will be a Destination by Hyatt property set to open in 2024, offers an oasis of calm for those looking to relax on beaches of crystal-clear water and white sand near the Albufera natural park. The 184-room resort is located on Muro Beach, Alcudia Bay, where guests are offered the ultimate indulgence, tailored to their every need. Both properties are in the process of being rebranded following a multi-property collaboration with Stoneweg.

Miguel Casas, Managing Director of Stoneweg Hospitality, says: “We are very excited to announce these exciting projects with Hyatt in Spain. The upcoming openings of AluaSoul Costa Adeje and Palace de Muro, are milestones that reflect our dedication to growth and excellence in hotel experiences. These Stoneweg properties not only strengthen Hyatt’s brand presence in the region, but also represent the realization of exceptional visions for our guests. We are excited for what’s to come and committed to delivering unforgettable experiences.”

“The all-inclusive segment continues to increase in popularity among our key stakeholders and generate opportunities for strategic growth across EAME,” said Javier Coll, global head Hyatt Inclusive Collection growth, Hyatt. “The Inclusive Collection, the largest portfolio of luxury all-inclusive resorts in the world, is the leader in the all-inclusive space with unique brands for varying needs and occasions. Our anticipated 2024 openings in existing markets like Spain and Greece, as well as new markets like Portugal, underscores our commitment to grow our brands with intent in markets that matter most to guests, customers, and owners.”

Further strengthening Hyatt’s growth in 2024 and beyond is an EAME pipeline of more than 70 properties spanning Hyatt’s distinct brand collections.

Timeless Collection properties deliver the comforts of a home away from home with a consistently elevated experience. 2024 is marked by significant expansion, particularly with the addition of two properties to the Park Hyatt brand, further reinforcing our brand presence in key primary markets. This expansion follows the notable opening of Park Hyatt Marrakech in December 2023. Additionally, select service brands Hyatt House and Hyatt Place continue to foster Hyatt’s entry into secondary markets.

2024 openings include:

• Hyatt House Leeds and Hyatt Place Leeds
• Park Hyatt Johannesburg
• Park Hyatt London River Thames

Boundless Collection hotels deliver best-in-class offerings and compelling experiences designed to excite and inspire, including most notably, four Thompson Hotels properties, including the recently opened Thompson Madrid:

• Thompson Rome
• Thompson Seville
• Thompson Vienna

Inclusive Collection luxury all-inclusive resorts deliver immersive and elevated experiences. The collection is expected to expand with notable entries into key resort destinations including:

• Dreams Madeira Resort, Spa & Marina
• Zoëtry Halkidiki Resort & Spa

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, 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.

MEDIA CONTACT:
Marie Cazaux
Hyatt
marie.cazaux@hyatt.com

Hannah Acsinia
Hyatt
hannah.acsinia@hyatt.com

INVESTOR CONTACT:
Tara Louise Atwood
Hyatt
tara.atwood@hyatt.com

Source: Hyatt Hotels Corporation

###

Subscribe to Notifications