Hyatt and Grupo Piñero finalize all-inclusive JV


Hyatt and Grupo Piñero finalize all-inclusive JV

Sunday, 28 Dec, 2024 0

Hyatt Hotels Corporation has completed on an agreement with Grupo Piñero for a strategic joint venture to manage Bahia Principe Hotels & Resorts-branded properties and own the Bahia Principe brand.

The 50/50 joint venture increases Hyatt’s all-inclusive portfolio.

The agreement brings 22 resorts totaling approximately 12,000 rooms, including 21 resorts under the Bahia Principe Hotels & Resorts brand located across the Dominican Republic, Mexico, Jamaica, and Spain.

It also paves the way for the Cayo Levantado Resort in the Dominican Republic to join Hyatt’s Inclusive Collection.

Grupo Piñero is the owner of the resorts managed by the joint venture.

The JV will provide expanded opportunities for growth with travelers in the Americas and other key markets.

Bahia Principe’s CEO Julio Pérez assumes leadership of the joint venture, with Grupo Piñero’s current Global Chief Executive Officer Encarna Piñero serving as Chairman of the Board.

Izet Mahalbasic, VP, Hotel Finance for Hyatt, will join the joint venture as Chief Financial Officer.

“This joint venture enhances Hyatt’s all-inclusive platform across multiple dimensions: more rooms, an expanded portfolio and more offerings on more stay occasions for guests and World of Hyatt members,” said Mark Hoplamazian, CEO, Hyatt.

“Grupo Piñero has built an exceptional family legacy over the past 50 years, and together we look forward to driving sustainable growth.”

This transaction builds on Hyatt’s growth journey in all-inclusive, which started with the creation of the Hyatt Ziva and Hyatt Zilara brands in 2013.

It continued with Apple Leisure Group in 2021, which expanded to more than 140 properties globally across 10 brands in Hyatt’s Inclusive Collection by the end of 2024.

Details of when and how Bahia Principe Hotels & Resorts will participate in the World of Hyatt loyalty program will be shared at a later date.



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Learn more about :   World of Hyatt ( N. America )     World of Hyatt ( United Kingdom )  



 

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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