Hyatt Unveils Plans to Further Expand Its Luxury Brand Portfolio Globally

Rhea-AI Summary

Hyatt Hotels Corporation (NYSE: H) announced plans for seven new luxury hotels in Europe and the Middle East during ILTM Cannes. This follows the previously announced opening of 24 luxury properties by 2023, enhancing Hyatt's luxury brand offerings in key markets. The company aims to tap into the recovery of leisure travel, catering to high-end travelers through a diverse portfolio. Notably, new hotels include Magma Resort Santorini and Thompson Madrid, with openings slated from mid-2022 to 2025.

Positive

• Announcement of seven new luxury hotels in Europe and the Middle East.
• 24 luxury hotels expected to open by 2023, enhancing brand portfolio.
• Focus on high-end travelers to capitalize on leisure travel recovery.
• New properties in desirable global locations.

Negative

• Forward-looking statements suggest potential risks related to economic conditions and the ongoing COVID-19 pandemic.

Announced during ILTM Cannes, Hyatt introduces plans for seven new luxury hotels throughout Europe and the Middle East, in addition to 24 luxury properties in stunning destinations throughout the U.S., Mexico, Morocco, Greater China, Thailand, and more

CHICAGO--(BUSINESS WIRE)--

Hyatt Hotels Corporation (NYSE: H) unveiled today, at the internationally renowned luxury travel trade show ILTM Cannes, plans for seven new luxury hotels and resorts throughout Europe and the Middle East, in addition to 24 previously announced luxury hotels within Hyatt’s luxury portfolio globally that are slated to open by 2023. These hotels are expected to further bolster Hyatt’s portfolio of luxury brand offerings in key growth markets.

Magma Resort Santorini, part of The Unbound Collection by Hyatt (Photo: Business Wire)

Hyatt continues to grow its brands in locations that matter most to guests, members, and owners. As leisure travel continues to drive recovery in many parts of the world, today’s announcement signals a continued commitment to catering to high-end travelers through a strong pipeline of diverse brands in some of world’s most desirable locations. The hotels and resorts set to join the Alila, Andaz, Destination by Hyatt, Grand Hyatt, Park Hyatt, The Unbound Collection by Hyatt, and Thompson Hotels brands are expected to exceed the expectations of the luxury traveler, delivering personalized and engaged service, story-worthy experiences and world-class offerings.

“Today, more than ever, our members and guests are looking for unforgettable travel moments – moments that are truly meaningful and leave an indelible mark, connecting them to experiences that change and inspire them,” said Amy Weinberg, senior vice president, loyalty, brand marketing and consumer insights, Hyatt. “The addition of these new hotels and resorts across Hyatt’s luxury portfolio will reinforce Hyatt’s position as a leader in the luxury hospitality space.”

All grounded in premium, cultural and desirable destinations known for their cuisine, architecture, immersive cultures, and history, these newly announced projects are located throughout Europe and the Middle East and have been carefully selected to complement Hyatt’s elevated, luxury portfolio:

Magma Resort Santorini, part of The Unbound Collection by Hyatt brand
Expected to open in mid-2022
Magma Resort Santorini, the first resort in the Greek islands in a Hyatt brand, will offer one-of-a-kind luxury stays. The 59-room resort will be nestled among traditional old vineyards and located on the lava-made slopes of Vourvoulos where guests will be able to enjoy stunning Santorini sunsets. For more information, visit magmaresortsantorini.com.

7Pines Resort Sardinia, part of the Destination by Hyatt brand
Expected to open in mid-2022
7Pines Resort Sardinia will mark the second Destination by Hyatt hotel in Europe. Ideally located overlooking the archipelago of La Maddalena and surrounded by untouched coastline and a nature reserve, guests will enjoy laid-back luxury and a deep sense of place in this unique setting.

Thompson Madrid
Expected to open in mid-2022
Representing an exciting milestone for Hyatt, Thompson Madrid will mark the brand’s debut in Spain and reintroduction to Europe. The dynamic, thoughtfully curated hotel will be located in the center of the new Golden Mile of Madrid, steps away from the most visited icons of the city. Striking design and spaces, including a rooftop terrace and pool, are sure to make the hotel a cultural hub showcasing the individuality of the locale.

Andaz Doha
Expected to open in late 2022
The Andaz brand is expected to debut in Qatar with the 318-room Andaz Doha, which will offer stunning sea views and will be located in the prestigious West Bay area of Doha. Providing elevated sensory experiences and unscripted service, Andaz Doha will invite today’s luxury traveler to immerse themselves into Qatar’s culture and capture the true essence of the surrounding destination.

Alila Lanzarote
Expected to open in 2025
Alila Lanzarote will offer a rare kind of luxury, integrating the respect and understanding of the local environment. Known for its diverse marine life, volcanic landscape and protected beaches, Lanzarote represents a spectacular location for the brand’s premier in Europe. Offering a combination of innovative design and an unprecedented level of personalized hospitality, guests will experience bespoke journeys.

Grand Hyatt Lanzarote
Expected to open in 2025
Grand Hyatt Lanzarote will be located in the premium tourist region on the island of Lanzarote and will provide stunning coastal views. Guests can look forward to spectacular design, iconic experiences in breathtaking settings and superior service and amenities to match.

Park Hyatt Riyadh Diriyah Gate
Expected to open in 2025
Park Hyatt Riyadh Diriyah Gate in the Kingdom of Saudi Arabia will be part of the much-anticipated Diriyah Gate Development overlooking Al-Turaif’s UNESCO world heritage site. Over 2.5 square miles (7 square kilometers) of Diriyah will be transformed into one of the world’s foremost historic tourism destinations offering guests a refined home-away-from home and new ways to experience the history of Saudi Arabia.

In addition, the following previously announced hotels within Hyatt’s luxury brand portfolio are expected to open in the next two years in key destinations around the world.

2022

• La Zambra, part of The Unbound Collection by Hyatt brand, in Mijas, Spain (formerly the Byblos Hotel)
• Fuji Speedway Hotel, part of The Unbound Collection by Hyatt brand, in Oyama, Japan
• Grand Resort Qingchengshan, a Destination by Hyatt hotel, in Greater China
• Andaz Prague in the Czech Republic
• Andaz Nanjing Hexi in Greater China
• Andaz Pattaya Jomtien Beach in Thailand
• Grand Hyatt Kuwait
• Grand Hyatt Gurgaon in India
• Grand Hyatt Shenzhou Peninsula in Greater China
• Park Hyatt Marrakech in Morocco
• Park Hyatt Jakarta in Indonesia
• Alila Kothaifaru Maldives in the Maldives
• Alila Taihu Suzhou in Greater China
• Thompson Austin in the U.S.
• Thompson Denver in the U.S.
• Hotel La Compañía, part of The Unbound Collection by Hyatt brand, in Panama City, Panama
• Numu in San Miguel de Allende, Mexico

2023

• Park Hyatt Los Cabos Hotel & Residences in Mexico
• Hotel Rhodania, Crans Montana, part of The Unbound Collection by Hyatt brand, in Switzerland
• Grand Hansa Hotel Helsinki, part of The Unbound Collection by Hyatt brand, in Finland
• Grand Hyatt Colombo in Sri Lanka
• Thompson Houston in the U.S.
• Thompson Monterrey in Mexico
• Thompson South Beach in the U.S.

For information on Hyatt’s existing brand portfolio, 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. 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. These statements include statements about Hyatt’s [__] and involve known and unknown risks that are difficult to predict. 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 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 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; levels of spending in business and leisure 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; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208006166/en/

Siân Rylander

Hyatt

sian.rylander@hyatt.com

Milica Ferreira da Silva

Hyatt – Europe, Africa and Middle East

milica.ferreiradasilva@hyatt.com

Source: Hyatt Hotels Corporation

FAQ

What are the details of Hyatt's new luxury hotels announced at ILTM Cannes?

Hyatt announced plans for seven new luxury hotels in Europe and the Middle East at ILTM Cannes, alongside 24 properties expected to open by 2023.

When is the expected opening date for the new hotels by Hyatt?

The new hotels are expected to open from mid-2022 to 2025.

How many luxury properties will Hyatt open globally by 2023?

Hyatt plans to open 24 luxury properties globally by 2023.

What impact does Hyatt's expansion have on its luxury brand offerings?

The expansion is set to strengthen Hyatt's luxury brand offerings in key growth markets.

What is Hyatt's strategy for targeting high-end travelers?

Hyatt aims to cater to high-end travelers by expanding its luxury portfolio in desirable locations.