Hyatt Hotels Corporation (NYSE: H) is experiencing a surge in growth across Latin America and the Caribbean. The company recently announced plans to open over 30 new hotels in the region by 2027, solidifying its commitment to this thriving travel market. This expansion caters to diverse traveler needs, offering a wider range of experiences from luxurious resorts to authentic local stays.
Strategic Growth Fueled by Diverse Offerings
Hyatt’s expansion strategy in Latin America and the Caribbean is driven by several key factors:
- Robust Travel Demand: The travel industry in the region is experiencing a significant rebound, with travelers seeking out new and exciting destinations. Hyatt’s expansion caters to this rising demand by offering a wider variety of accommodation options.
- Effective Asset-Light Strategy: Hyatt prioritizes an asset-light model, focusing on management agreements and franchising rather than direct hotel ownership. This allows for faster and more efficient growth across the region.
- Strategic Acquisitions: The 2021 acquisition of Apple Leisure Group significantly bolstered Hyatt’s presence in the all-inclusive resort market, particularly in Mexico and the Caribbean.
“Hyatt’s brand growth in Latin America & the Caribbean is fueled by robust travel across all customer segments and our effective execution of an asset-light strategy,” said Camilo Bolaños, Senior Vice President of Development for Latin America & the Caribbean at Hyatt.
This strategic approach has yielded impressive results. Since 2017, Hyatt has:
- Doubled its luxury rooms in the region.
- Tripled its resort rooms.
- Quintupled its lifestyle rooms.
As a result, Hyatt boasts the world’s largest portfolio of luxury branded rooms in resort locations.
Expanding the Destination by Hyatt Brand
The Destination by Hyatt brand offers a unique collection of independent hotels, resorts, and residences. These properties cater to travelers seeking authentic experiences that are deeply rooted in the local culture. Hyatt plans to introduce the Destination by Hyatt brand to two new markets in Latin America & the Caribbean:
- The Legend Paracas Resort (Peru): This beachfront resort, located south of Lima, is expected to join the Destination by Hyatt portfolio in the summer of 2024. Following a renovation project, it will offer guests a luxurious escape with easy access to the Paracas Natural Reserve and Paracas Bay.
- Cas En Bas Beach Resort (St. Lucia): Nestled on the northern tip of St. Lucia, this resort boasts a secluded beachfront location and proximity to championship golf courses. Scheduled to open in early 2025, it will feature contemporary residential-style studios and suites, ideal for discerning travelers seeking a luxurious escape.
“Expanding the Destination by Hyatt brand into Latin America & the Caribbean highlights our commitment to delivering unique experiences within our distinct Independent Collection portfolio,” said Katie Johnson, Vice President and Global Brand Leader of the independent Collection at Hyatt.
These new additions will allow travelers to experience the rich cultures and landscapes of Peru and St. Lucia through a curated and personalized lens.
Unparalleled All-Inclusive Experiences with Hyatt’s Inclusive Collection
Hyatt’s Inclusive Collection offers a variety of all-inclusive resorts across Mexico and the Caribbean. These resorts cater to families, couples, and adult-only segments, providing a seamless vacation experience with exceptional service, gourmet dining, and thoughtful amenities.
The Inclusive Collection continues to expand its footprint in the region with recent openings including:
- Dreams Estrella del Mar Mazatlán Golf & Spa Resort: A family-friendly resort offering a variety of activities and amenities for all ages.
- Sunscape Coco Punta Cana & Sunscape Dominicus La Romana: Offering a vibrant and fun atmosphere for families seeking an all-inclusive getaway.
- Impression Moxché by Secrets and Impression Isla Mujeres by Secrets: Luxury all-inclusive resorts catering to the adults-only segment, featuring exceptional service and world-class amenities.
- Secrets Tides Punta Cana, Secrets Playa Blanca Costa Mujeres, and Hyatt Vivid Grand Island: Additional adults-only resorts offering sophisticated getaways in stunning locations.
Hyatt’s commitment to growth in the all-inclusive segment is further underscored by upcoming openings in key destinations:
- Dreams Curacao Resort, Spa & Casino (adults-only expansion): Scheduled to debut in July 2024, this expansion will feature a new “IL MARE” section offering luxurious beachfront accommodations with modern design and exclusive amenities.
- Dreams Bahia Mita Surf & Spa Resort (family-friendly expansion): Opening in summer 2024, this expansion will add new rooms, a restaurant, and multiple pools, catering to families with children of all ages.
