Hyatt Hotels Stock Price, News & Analysis

Grand Hyatt Scottsdale Resort has completed a $115 million property-wide renovation, marking the first Grand Hyatt in Arizona. The former Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch now features 496 updated accommodations, including 18 luxury Casitas and the ultra-luxe Gainey House. The renovation includes six new dining experiences led by celebrity chef Richard Blais, a 2.5-acre pool complex with 10 swimming pools, an upgraded Spa Avania, and expanded meeting spaces. The resort will debut a new 24,000-square-foot Arizona Ballroom in January 2025, bringing the total function space to 90,000 square feet.

Hyatt Hotels reported solid Q3 2024 results with Net Income of $471 million and Adjusted EBITDA of $275 million. System-wide hotels RevPAR increased 3.0% compared to 2023. The company's pipeline reached a record of approximately 135,000 rooms, growing 10% year-over-year. World of Hyatt membership expanded to 51 million members, up 22%. The company completed its 2021 asset-disposition commitment, acquired Standard International, and announced plans for a joint venture to manage Bahia Principe hotels. Full-year 2024 guidance projects Net Income between $1,400-$1,450 million and Adjusted EBITDA of $1,100-$1,120 million.

Hyatt Hotels (NYSE: H) announced plans to form a 50/50 strategic joint venture with Grupo Piñero to manage Bahia Principe-branded hotels and resorts. The venture will expand Hyatt's all-inclusive room portfolio by approximately 30%, adding 23 resorts with over 12,000 rooms across the Dominican Republic, Mexico, Jamaica, and Spain. Bahia Principe Hotels & Resorts will join Hyatt's Inclusive Collection, with current CEO Julio Pérez leading the management company and Encarna Piñero serving as Chairman of the Board. The asset-light venture will be headquartered in Palma de Mallorca, Spain, with Grupo Piñero planning to use transaction proceeds to enhance existing Bahia Principe resorts.

Hyatt Hotels (NYSE: H) announced the opening of Hyatt Centric Santo Domingo, marking the first Hyatt Centric branded hotel in the Caribbean. Located in the Ensanche Piantini neighborhood, the hotel features 130 guestrooms and suites with modern design inspired by Dominican artist Thimo Pimentel. The property includes four dining venues, 12,976 square feet of event space, a rooftop pool, and a 24-hour fitness center.

The hotel's design showcases local culture through art installations and ceramic pieces, while offering amenities like 55" HDTVs and complimentary Wi-Fi. World of Hyatt members can earn 500 Bonus Points for qualifying stays from October 24 to January 31, 2025.

Hyatt Hotels (NYSE:H) announces the A Taste of Thompson Chef Series, an innovative content and dining series featuring renowned chefs Ludo Lefebvre, Quentin Garcia, and Enrique Olvera at Thompson Hotels properties. The series offers a glimpse into the chefs' lives and culinary journeys through YouTube, Instagram, and Facebook content, culminating in exclusive ticketed dining experiences from December 2024 to early 2025.

Each chef will host a unique event: Lefebvre at Thompson Denver (Dec 10, 2024), Garcia at Thompson Palm Springs (Jan 15, 2025), and Olvera at The Cape, A Thompson Hotel (early 2025). The series is part of Thompson Hotels' Culture Lives Here platform, aiming to showcase authentic culinary culture and provide guests with intimate access to world-class chefs shaping the culinary landscape.

World of Hyatt and Peloton have announced a collaboration that allows World of Hyatt members to earn points for completing Peloton workouts at 700+ participating Hyatt hotels worldwide. Members can earn 100 Bonus Points per completed workout on up to 10 qualifying workouts of at least 20 minutes per month, with the potential to earn up to 12,000 Bonus Points per year. This initiative makes World of Hyatt the first loyalty program to reward members for Peloton workouts on property globally.

The collaboration also offers special benefits for World of Hyatt Credit Cardmembers, including 2X Bonus Points per $1 USD spent on Peloton equipment and subscriptions. Additionally, World of Hyatt members can enjoy discounts on Peloton equipment and extended free trials for the Peloton App One Membership. The partnership aims to enhance guests' wellbeing routines while traveling and provide more opportunities to earn points towards future bookings, upgrades, and experiences.

Hyatt Hotels (NYSE:H) has welcomed Cheyenne Mountain Resort to its Destination by Hyatt brand, expanding its portfolio of true-to-place experiences. Located in Colorado Springs, the resort features 316 guestrooms and suites nestled in the Rocky Mountains, offering immersive outdoor experiences and local touches.

The resort boasts 100,000 square-feet of indoor and outdoor space, including five swimming pools, 16 tennis courts, eight pickleball courts, and an 18-hole Pete Dye-designed golf course. It also features a 9,000-square-foot fitness center and the Alluvia Spa and Wellness Retreat.

For events and meetings, Cheyenne Mountain Resort offers 40,000 square-feet of versatile space with 38 meeting rooms, accommodating up to 600 attendees. The resort's dining experiences, led by Executive Chef James Wilson, showcase locally sourced ingredients and Colorado Springs' flavors.

The Destination by Hyatt brand has introduced the 'Roots to Reunion' program, available through April 2025 at participating resorts. This initiative, part of the 'Discover Differently' campaign, aims to redefine multigenerational family vacations by offering tailored travel experiences. The program features:

1. A dedicated 'Family Travel Expert' to guide families
2. Curated itineraries capturing each destination's essence
3. A 'Reunion Ready Kit' with location-specific items

Available at six global resorts, including locations in California, Hawaii, Scotland, Washington, Vermont, and South Carolina, the program addresses the challenges of planning multigenerational trips. It offers personalized experiences to help families reconnect and explore destinations like locals, with activities ranging from skiing to beach relaxation.

Hyatt Hotels (NYSE: H) announced significant growth in its select service pipeline, with a ~25% increase in the Americas over the past three years. As of June 30, 2024, this segment represents over 50% of Hyatt's total pipeline in the Americas. Hyatt is evolving its select service brands, focusing on operational efficiency and profitability:

1. Caption by Hyatt: Refreshed approach with increased market flexibility, more efficient food and beverage model, and evolved prototype design.

2. Hyatt Studios: Over 4,000 pipeline rooms and 250 deals in negotiation, with openings slated for 2025 and 2026.

3. Hyatt House and Hyatt Place: Undergoing upgrades driven by owner and guest feedback, focusing on reducing build cost and improving operational efficiency.

The World of Hyatt loyalty program continues to drive direct business growth, with a 50% year-over-year increase in direct booked nights from existing members engaging with recent promotions.