Hyatt Hotels Corporation Positioned for Transformative Growth in 2023
SUMMARY – HYATT HOTELS CORPORATION IS POISED FOR TRANSFORMATIVE GROWTH IN 2023 AND BEYOND, BACKED BY A RECORD PIPELINE OF HIGH-VALUE PROPERTIES AND STRATEGIC ACQUISITIONS, FURTHER STRENGTHENING THEIR LEADERSHIP IN THE LUXURY AND LIFESTYLE SEGMENTS. WITH A FOCUS ON PERSONALIZED EXPERIENCES AND GLOBAL EXPANSION, HYATT WILL ELEVATE GUEST EXPERIENCES AND DRIVE LOYALTY ACROSS THEIR PORTFOLIO.
Hyatt Hotels Corporation (NYSE: H) is poised for continued transformative growth in 2023 and beyond, backed by a record pipeline of approximately 117,000 rooms worldwide. The pipeline includes an impressive one in four properties classified as a lifestyle hotel, reinforcing Hyatt’s leadership in luxury, lifestyle, and leisure segments. This significant growth expands the range of guest experiences, driving loyalty through the World of Hyatt program across the portfolio.
Expansion through Asset-Light Acquisition of Dream Hotel Group
A notable driver of this growth recently announces asset-light acquisition of Dream Hotel Group’s lifestyle hotel brand and management platform. This acquisition will bring established lifestyle hotel brands, such as Dream Hotels, Unscripted Hotels, and The Chatwal, into the Hyatt portfolio. Dream Hotel Group properties are renowned for their experiential hospitality, featuring hotspot restaurants and nightlife venues known for strategic and unconventional programming. The acquisition also includes signature designs that strike a perfect balance between substance and sizzle. Hyatt will welcome over 600 new colleagues from Dream Hotel Group, enhancing their expertise in experiential hospitality and expanding their brand presence in strategic destinations worldwide, including Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha, New York City, the Catskills in New York, and Valle de Guadalupe in Mexico.
Growth of Caption by Hyatt Brand and International Expansion
Caption by Hyatt will expand to Tennessee with Caption by Hyatt Chattanooga in collaboration with 3H Group by 2024, following the success of Caption by Hyatt Beale Street Memphis in 2022. Moreover, California will see the introduction of Caption by Hyatt Roseville in collaboration with LRE & Companies and American Hospitality Services, Inc., as well as Caption by Hyatt Sacramento in collaboration with Presidio Hotel Development LLC and 29th Street Capital, both expected to open in 2026. Internationally, the Caption by Hyatt brand will extend its reach to China and Japan in 2023, Vietnam in 2025, and Sydney in the near future. This brand shows commitment to fostering diversity, both in its workforce and in the communities it serves.
READ: Hyatt to expand luxury portfolio across Europe, Africa and the Middle East by over 30% through 2025
Hyatt’s Growth Strategy and Strong Performance
Jim Chu, executive vice president and chief growth officer of Hyatt, expressed confidence in their intentional long-term growth strategy and their ability to build strong relationships with owners. Hyatt has achieved five years of industry-leading organic net rooms growth, which resonates with owners who value Hyatt’s expertise, performance track record, and optimal industry positioning. With global scale and personalized approach, Hyatt can create meaningful connections, drawing on their own experiences and leading with empathy.
The Park Hyatt brand will make a comeback in South Africa with the opening of Park Hyatt Johannesburg in late 2023. Additionally, Park Hyatt will enter Morocco with Park Hyatt Marrakech, offering a luxurious resort experience infused with Moroccan charm.
In 2023, the Andaz brand will expand into new markets with Andaz Doha in Qatar. This property will showcase locally inspired design, contemporary art, signature touchpoints, and innovative dining options, including a South African restaurant and a Singaporean street food concept.
Hyatt’s Boundless Collection and Independent Collection, spanning upscale to luxury lifestyle brands, have a robust pipeline of expected openings in 2023 and 2024.
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