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Leisure Demand Continues to Drive Hyatt’s Brand Growth in Europe
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Rhea-AI Summary
Hyatt Hotels Corporation (NYSE: H) announced six new management and franchise agreements in Europe, aiming to enhance its brand presence across various countries. This move is part of Hyatt's broader growth strategy, which includes a planned acquisition of Apple Leisure Group to expand its European footprint by 60%. The new hotels will cater to the rising demand for unique experiences, further solidifying Hyatt's position in the hospitality sector. These developments are expected to boost investor confidence and expand Hyatt's portfolio, emphasizing leisure travel connections.
Positive
Six new management and franchise agreements to expand Hyatt's brand presence in Europe.
Plans to acquire Apple Leisure Group, potentially increasing European footprint by 60%.
Growing demand for unique hotel experiences supports Hyatt's business strategy.
Negative
None.
Hyatt’s diverse brand portfolio reflects sustained growth, fueled largely by its independent collection and lifestyle brands
CHICAGO--(BUSINESS WIRE)--
Hyatt Hotels Corporation(NYSE: H) today announced that a Hyatt affiliate has entered into six new management and franchise agreements for hotels in Europe across The Unbound Collection by Hyatt, JdV by Hyatt, Hyatt Centric, and Hyatt Regency brands, further emphasizing a growing desire from travelers, World of Hyatt members, and owners for hotels that offer unique, differentiated experiences and foster genuine connections with people and cultures.
Hotel Rhodania Crans Montana (Photo: Business Wire)
Today’s announcement builds on Hyatt’s growth strategy to significantly expand its brand portfolio in Europe by the end of 2023 – the six new executed agreements are expected to increase Hyatt’s brand presence in France, Germany, Italy, Spain, and Switzerland. This is in addition to the recently announced planned acquisition of Apple Leisure Group (ALG), which is expected to expand Hyatt’s European brand footprint by 60 percent.
“The newly executed agreements highlight the positive strides we are making towards our growth strategy in Europe, and the new projects sit alongside a strong pipeline of Hyatt-branded hotels scheduled to open over the coming years,” said Felicity Black-Roberts, Hyatt’s vice president development, Europe. “Confidence in the hospitality sector remains high among investors, and we are delighted to collaborate with leading owners and operators who recognize the value and profitability of Hyatt’s entire brand portfolio, with an emphasis on Hyatt’s independent collections, including The Unbound Collection by Hyatt and JdV by Hyatt brands, and lifestyle brands, including Hyatt Centric. With these new deals, we are asserting our expertise in leisure destinations, reinforcing that Hyatt’s brands continue to resonate and cater to leisure travelers.”
Newly executed deals include:
The Unbound Collection by Hyatt
The Unbound Collection by Hyatt hotel in Crans-Montana, Switzerland
The luxurious boutique hotel Rhodania in the Swiss Alps is expected to join The Unbound Collection by Hyatt in 2023. The 41-room hotel is currently located right on the third tee of the famous Severiano Ballesteros golf course, approximately 4,900 feet (1,500 meters) above sea level in one of the most prestigious and well-established year-round mountain destinations in Switzerland. The region is also well known for its wealth of sporting options, including skiing, mountain biking, hiking and golfing; one of the most renowned golf tournaments played on European soil takes place in Crans-Montana each year. The hotel is expected to deliver on the brand’s mission of providing experiences that inspire unforgettable memories for guests seeking elevated yet unscripted service when they travel. Inside the hotel, the rooms and suites will be characterized by their elegant and luxurious décor. The hotel’s food and beverage outlets will offer high-quality local products and regional cuisine at both the main restaurant and the Swiss Chalet, creating unique dining experiences for worldly, independent-minded guests.
ll Tornabuoni Hotel in Florence, Italy
A Hyatt affiliate has entered into a franchise agreement with AG Group for Il Tornabuoni Hotel in Florence, which will join The Unbound Collection by Hyatt brand. The luxury boutique 62-room hotel is expected to open in October 2021 and will be the first Hyatt-branded property in Florence. The historic property on the Via de Tornabuoni will be surrounded by many high-end fashion boutiques and some of the most extraordinary tourist attractions. Guests will be able to step back in time with a climb up Giotto’s Campanile, a marbled Gothic tower that delivers spectacular views across the city, and will find the historic Ponte Vecchio, which is a Medieval bridge hosting authentic Italian jewelry shops, right at their doorstep. Carefully curated, the hotel’s interior design will truly reflect its historic roots from the Renaissance era, offering guests a story-worthy experience. References to the city’s architecture, history, nature, and food will be woven throughout the hotel’s design and amenities.
JdV by Hyatt
The Tribune Hotel in Rome, Italy
The Tribune Hotel, which is expected to join the JdV by Hyatt brand, will mark a significant and long-awaited milestone in Hyatt’s growth strategy: the introduction of the Hyatt brand to Rome. A Hyatt affiliate has entered into a franchise agreement with AG Group for the new hotel in the UNESCO World Heritage Site city. The hotel is slated to open in October 2021. Once the capital of an ancient republic and empire, Rome is known as the “Eternal City,” remaining today a political capital, religious center, and memorial to the creative imagination of the past. Located just off the Via Veneto, made famous in Federico Fellini’s film La Dolce Vita, and close to major tourist attractions, the 52-room upscale hotel will inspire playful travel through neighborhood connections. Whether guests are planning to conclude the evening in style on the hotel’s rooftop terrace with views of the Villa Borghese or head out to wander like a local through the city’s nightlife, the vibrant Tribune Hotel will welcome everyone with its socially inclusive concept in the center of Rome’s most happening neighborhood.
A JdV by Hyatt hotel in Bordeaux, France
Driving further momentum within Hyatt’s independent collections portfolio, the JdV by Hyatt brand is expected to debut its first hotel in Bordeaux, France, a city rich in architectural and cultural heritage with highlights including its famous harbor, Port de la Lune, a UNESCO World Heritage Site. A Hyatt affiliate has entered into a franchise agreement with Alboran Hotels and Hospitality for a JdV by Hyatt hotel, which is expected to open in 2022. Located in one of the most active districts of Bordeaux, the independent hotel will be a true reflection of the local neighborhood, enabling guests to immerse themselves in Bordeaux’s culture and connect with its communities. The 147-room property will feature a main restaurant and bar, where guests can enjoy regional flavors, cuisines and drinks, as well as a private rooftop speakeasy bar and terrace for unique experiences. Further thoughtful reflections of the local culture throughout the hotel will invite guests seeking vibrant and socially inclusive stays to embrace the free spirit of Bordeaux.
Hyatt Centric
Hyatt Centric Altstadt Hamburg in Hamburg, Germany
The Hyatt Centric brand will debut in Germany under a franchise agreement between a Hyatt affiliate and SV Hotel AG. Hyatt Centric Altstadt Hamburg will be located on Moenckebergstrasse, one of Hamburg’s most vibrant shopping streets. As a brand synonymous with adventure and being in the center of the action, the Hyatt Centric brand is a perfect addition to this vibrant location. In addition to securing a strong entry for the brand in Hamburg, a key international destination for leisure and business, Hyatt Centric Altstadt Hamburg is slated to open in 2025 and will be the second Hyatt-branded hotel in the city, joining Park Hyatt Hamburg. The property will feature a stunning top-floor panoramic restaurant and bar, outdoor seating, and a fitness center.
Hyatt Regency Hyatt Regency Madrid Residences in Madrid, Spain
Hyatt Regency Hesperia Madrid will expand on its current hotel accommodations to include a residential component – Hyatt Regency Madrid Residences. With 22 premium apartments, the new complex will be located at Paseo de la Castellana, in the heart of the financial center of the capital and in close proximity to many international businesses, diplomatic offices and embassies. The residences will offer lush and spacious apartments, ranging from 1,000 square feet (100 square meters) to an exceptional 3,700- square-foot (350 square meter) penthouse that will feature a 1,000-square-foot (100 square meter) terrace with panoramic views of the city's main avenue. Designed for productivity and peace of mind, guests of Hyatt Regency Madrid Residences will have access to the services and amenities at Hyatt Regency Hesperia Madrid. Guests that seek intuitive experiences and stress-free environments will find all they need to stay connected and energized at Hyatt Regency Madrid Residences.
Recent Hyatt hotel openings across Europe include:
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 offering 20 premier brands. As of June 30, 2021, the Company's portfolio included more than 1,000 hotel and all-inclusive properties in 68 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries operate, manage, franchise, own, lease, develop, license, or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under 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®, tommie™, UrCove, and Hyatt Residence Club® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.
About AG Group
AG Group is Italy’s first Italian-owned hospitality group capable of providing all aspects of demand for tourism in-house with boutique hotels, DMC/ tour operator & event management, hotel consultancy, culinary outlets and retirement homes. The motto “Your Gateway to Italy” embraces their position as a doorway to the best of Italy. Founded by entrepreneur Andrea Girolami who brings over twenty years in the hospitality and tourism sector, AG Group is comprised of five divisions including:
AG Hotels: Collection of 11 four- and five-star luxury hotels in Rome and Florence
AG Boutique Journey: DMC, tour operator and special events company specializing in group travel, FIT travel, corporate and events, luxury travel and weddings
AG Hotel Consulting: Hotel consulting services, including revenue management, for over 30 four- and five-star hotels throughout Italy
AG Foodies: F&B division which includes Diana bistrot and the terraces of two AG Hotels in Rome
AG Domus Nova: luxury retreats for the elderly
For more information on AG Group Italy including AG Hotels, AG Boutique Journey, AG Hotel Consulting and AG Foodies, please visit https://www.aggroupitaly.it/ and follow us on Instagram and Facebook
Alboran Hotels and Hospitality
Alboran is an active owner of hotel properties with in-depth hotel knowledge and experience of all operating models. Founded in 2016, Alboran’s business concept stands for two main skills, real estate and hotel operations with a focus on sizeable hotels in key leisure and corporate destinations. The ambition of the company is to actively own, manage and develop hotel properties through hotel ownership and management with long term vision. Alboran supports its assets and partners through 3 businesses lines: Hotel Management, Asset Management & Property Management and Consultancy.
Alboran is managed by its founding shareholders, Eric Omgba, Jérôme Bosc and Yann Caillère, hotel industry expert and former CEO/President of Accor, Disneyland Paris, Louvre Hôtels and Pierre & Vacances Groups. Alboran has an integrated business model and is active throughout the value chain with the goal of offering the most attractive platform for hotel operations. Its platform provides the necessary support for the day to day management of hotel operations. Alboran operates on its own behalf or on behalf of third parties. This platform is approved by the leading hotel franchisors. Alboran owns 17 hotels with more than 1,500 bedrooms and 10 hotel brands across Economic, Mid-range, Upper Mid-range and Premium segments. This portfolio is represented in 9 cities in France.
About SV Group
SV Hotel is part of the hospitality and hotel management group SV Group, headquartered in Dübendorf near Zurich. As a franchisee, SV Hotel operates hotels of the Marriott brands Courtyard, Residence Inn, Renaissance and Moxy in Switzerland and Germany. Hyatt Centric is a new addition to the portfolio with its first hotel in Hamburg. The hotel portfolio also includes its own award-winning brand Stay KooooK and the hotels La Pergola in Bern and Amaris in Olten, Switzerland. SV Group employs around 7,000 people in the DACH region.
About Hesperia Hotels & Resorts
Hesperia Hotels & Resorts is one of Spain’s leading hotel groups, with an established presence in urban and leisure destinations. It is one of the companies with the most experience and knowledge of the industry, having been in operation for more than 20 years. Its portfolio encompasses 28 hotels, all being 3, 4 and 5-star properties that amount to 3,924 rooms and 1,300 employees. Its hotels are designed to offer clients contemporary accommodations and customized services in places with a high-volume of urban and leisure travel, which strengthens its resistance to potential decreases in tourism. The group maintains its commitment to a portfolio of high-quality and diversified assets both geographically and by type of activity, resulting in balanced revenues, reduced city risk, greater growth opportunities, and less exposure to seasonality.
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, 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.
