Major hotel groups have seen the future, and it’s name is all-inclusive.
Hyatt Hotels Corp. has announced a 50/50 joint venture with Grupo Piñero that will see Hyatt manage Bahia Principe Hotels & Resorts-branded properties and own the Bahia Principe brand. The agreement brings the Hyatt Inclusive Collection to 22 resorts with approximately 12,000 rooms, including 21 resorts under the Bahia brand located in the Dominican Republic, Mexico, Jamaica, and Spain, as well as the Cayo Levantado Resort in the DR.
The company said it expects its Inclusive Collection to include more than 140 properties across 10 brands globally by the end of this year.
“This joint venture with Grupo Piñero 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, President and Chief Executive Officer, Hyatt.
Hyatt also has entered an exclusivity agreement with Playa Hotels & Resorts, beginning exclusive negotiations that could lead to Hyatt’s acquisition of Playa, said Hotel Management Network.
“Playa has been a valuable partner for many years, is one of the world’s strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic locations and key markets across the Caribbean and Mexico,” said Hoplamazian. “Strategic alternatives under consideration could have compelling strategic merit to add new incremental durable fee streams for Hyatt.”
Bahia Principe’s Chief Executive Officer 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, Vice President Hotel Finance for Hyatt, will join the joint venture as Chief Financial Officer.
The Bahia Principe 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. Hyatt acquired Apple Leisure Group in 2021.
Marriott also is gung ho on the all-inclusive format. As reported last fall by Open Jaw, Marriott Bonvoy surveyed its members a few years ago and found that 67% of respondents were quite interested in all-inclusive hotels. It wasn’t a Marriott specialty in the past, but their aggressive move into the market shows there was a solid opportunity.
Marriott got into the all-inclusive market a few years ago with seven properties. They’re now up to 33, including hotels in Mexico, Barbados, Jamaica, Costa Rica, Brazil and many other places. There’s also a much greater emphasis on luxury all-inclusive hotels.
“We’re increasing our footprint in the all-inclusive luxury space,” officials told Open Jaw. “This year we’re opening Almare on Isla Mujeres, the first Marriott luxury all-inclusive in Mexico.”
They also plan to open the first W Hotel in the Caribbean, and the world’s first all-inclusive W Hotel this year.
Marriott is also making a big push with new, all-inclusive properties in Barbados.
Three opened in November on the so-called Platinum Coast of Barbados; Treasure Beach by Elegant Hotels, Waves Resort and Spa and The House by Elegant Hotels. Open Jaw’s Claudia Laroye visited Waves Resort and Spa last fall and filed a report.
The Points Guy says Hilton isn’t nearly as deep into the all-inclusive space as Hyatt or Marriott, but notes the company “has consistently been adding new properties to its portfolio for the last few years.”
