In a groundbreaking announcement that sets the stage for a new era in the hospitality industry, Hyatt Hotels Corporation has revealed its strategic growth trajectory for 2024 and beyond, boasting a record-breaking pipeline of 127,000 rooms globally.
This expansion, representing nearly 40% of Hyatt’s current portfolio, marks a significant milestone in its history and cements its position as a leader in the global hospitality market.
The Hyatt expansion narrative is not just about numbers but a testament to the brand’s unwavering commitment to quality, guest satisfaction, and market innovation. Mark Hoplamazian, President and CEO of Hyatt, emphasized the company’s deliberate growth strategy and acquisitions, always with a keen eye on guest preferences and market trends. “Guided by our purpose of care, we believe our most exciting chapter is ahead of us,” Hoplamazian said, affirming Hyatt’s ambition to reinforce its stature as the premier hospitality brand.
Since its IPO, Hyatt’s journey has been nothing short of phenomenal. Its portfolio of hotels has almost tripled, while its development pipeline has quadrupled, driven by a blend of organic growth, strategic acquisitions, and conversions. This expansion strategy has been particularly effective in elevating Hyatt’s premium portfolio, catering to guests seeking high-end experiences in each segment.
A key driver of this success is the World of Hyatt platform, which has seen its membership quadruple over the past five years. The program’s focus on personalized guest care and increased revenue for owners has made it the fastest-growing loyalty program in the industry, with 30% more members per hotel than its larger competitors.
Hyatt Studios Night-time Exterior Rendering.
Strategic Growth in Luxury, Resort, and Lifestyle Portfolios
Hyatt’s growth strategy has been mainly focused on expanding its luxury, resort, and lifestyle portfolios. Since 2017, the addition of nearly 90,000 rooms in these categories now accounts for 45% of Hyatt’s total portfolio. The expansion has doubled the number of luxury, tripled resorts, and quadrupled lifestyle rooms. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its diverse collection of luxury brands.
Key highlights include the Park Hyatt brand’s entry into global markets like London, Johannesburg, Changsha, and Kuala Lumpur and its expansion in Mexico with upcoming properties in Cancun, Los Cabos, and Mexico City. The Thompson Hotels brand is also gaining significant momentum in Europe and Asia Pacific, with new properties in Rome, Vienna, Seville, Shanghai, and others. Furthermore, Hyatt continues strengthening its position as the world’s most extensive portfolio of luxury all-inclusive resorts, including the launch of the ultra-luxury brand Impression by Secrets.
New Markets and New Developers with Hyatt Studios
Hyatt is also innovating by introducing Hyatt Studios, its first upper-midscale extended-stay brand in the Americas. Hyatt Studios responds to the growing demand for quality accommodations in secondary and tertiary markets. Approximately 200 deals are in various stages of negotiation, reflecting the brand’s appeal to developers and guests alike. This expansion includes new properties across North America and marks Hyatt’s entry into new markets with first-time Hyatt owners.
Global Expansion Across All Brand Collections
Hyatt’s global expansion encompasses all its brand collections. The Independent Collection hotels, including The Unbound Collection by Hyatt and the JdV by Hyatt brand, are growing globally with unique properties in Switzerland, Germany, and Indonesia. The Timeless Collection hotels, including the Hyatt Regency and Grand Hyatt brands, are entering new destinations like Panama, Kuwait, and Utah. The Boundless Collection hotels, featuring the Hyatt Centric brand, are expanding in Canada, Asia Pacific, and Latin America.
Inclusive Collection resorts are also set for significant growth, with new Secrets Resorts & Spas and Dreams Resorts & Spas properties opening in Mexico, the Dominican Republic, and other locations. The newly announced adults-only Hyatt Vivid brand is poised to debut with Hyatt Vivid Grand Island.
This unparalleled expansion by Hyatt is not just a business move; it’s a bold statement in the world of hospitality. With a clear vision and a relentless drive for innovation and excellence, Hyatt is poised to redefine the guest experience and set new benchmarks in the industry. The future of hospitality looks bright, and Hyatt is leading the way, painting a future where luxury, comfort, and innovation meet at every corner of the globe.
Innovative Approach to Guest Experience and Owner Satisfaction
Hyatt’s growth is underpinned by a deep understanding of the evolving needs of modern travellers and a commitment to delivering exceptional guest experiences. This approach extends beyond the traditional boundaries of hospitality, offering guests unique and personalized experiences that cater to their individual preferences and lifestyles.
Hyatt’s growth strategy presents a compelling proposition for hotel owners and developers. The company’s focus on strong relationships with managed and franchised owners has been pivotal in securing deals in competitive markets and innovating with unique projects. Jim Chu, Executive Vice President and Chief Growth Officer at Hyatt, highlights the importance of these partnerships: “Our growth is only possible because of our strong relationships with owners. Whether winning deals in highly competitive markets or innovating with one-of-a-kind projects, we work tirelessly to be the preferred brand for owners and developers.”
Sustainable Growth and Future Outlook
As Hyatt embarks on this ambitious expansion, the company is also mindful of its environmental and social responsibilities. Sustainable growth is at the forefront of Hyatt’s strategy, focusing on eco-friendly practices and community engagement. This commitment ensures that Hyatt’s growth benefits the company and its stakeholders and contributes positively to its hotels’ communities and environments.
Looking ahead, Hyatt’s record pipeline of 127,000 rooms is just the beginning of a transformative journey in the hospitality industry. The company’s vision for the future includes continued innovation, exceptional guest experiences, and sustainable growth. With its finger on the pulse of global travel trends and a deep understanding of guest preferences, Hyatt is well-positioned to lead the hospitality industry into a new era of luxury and excellence.
In conclusion, Hyatt Hotels Corporation’s historic expansion marks a new chapter in the hospitality industry. With a strategic focus on luxury, resort, and lifestyle portfolios, innovative new brands like Hyatt Studios, and a commitment to sustainable growth, Hyatt is set to redefine what it means to travel in style and comfort. The future of hospitality is here, and Hyatt is at its forefront, poised to deliver experiences that are not just memorable but genuinely transformative.
Written by: Soo James
