Hyatt Highlights Growth Trajectory for 2024 and Beyond

Grand Hyatt Los Cabos
Grand Hyatt Los Cabos Rendering

Hyatt Hotels Corp. continues to expand and build around the world, adding new brands and new markets from Asia to Europe, and the Caribbean to Canada.

The company is highlighting its expected growth trajectory for 2024 and beyond, underscored by a record year of deal signings in 2023. Hyatt reports a record pipeline of 127,000 rooms worldwide as of year-end 2023. That represents nearly 40% of existing rooms in the Hyatt portfolio.

"We have been very intentional in our growth strategy and acquisitions, always prioritizing guest, customer and owner preference as well as differentiation, and taking bold steps to stay ahead of market trends,” said Mark Hoplamazian, president and chief executive officer, Hyatt. “Guided by our purpose of care, we believe our most exciting chapter is ahead of us, and we are committed to reinforcing our position as the preferred hospitality brand.”

Since going public, Hyatt has experienced remarkable growth; its portfolio of hotels has nearly tripled while its development pipeline has quadrupled. This expansion, driven by organic growth, conversions, and strategic acquisitions funded by real-estate dispositions, has resulted in Hyatt’s premium portfolio of brands serving guests at the high-end of each segment.

This has directly translated into significant growth in the World of Hyatt platform, which has quadrupled in membership in the last five years. With more than 30% more members per hotel than its larger hotel competitors, the fastest-growing loyalty program in the industry focuses on more personalized guest care and increased revenue for owners.

Strategic Growth in Luxury, Resort, and Lifestyle Portfolios

Hyatt is uniquely positioned in the industry to be the preferred brand for the high-end guest, driven by significant expansion of luxury, resort and lifestyle hotels. Since the end of 2017, the addition of nearly 90,000 rooms in these categories now represents 45% of Hyatt's total portfolio. This growth has doubled the number of luxury rooms, tripled resort rooms, and quadrupled lifestyle rooms. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its diverse collection of luxury brands. Growth highlights in luxury, resort, and lifestyle portfolios include:

  • The Park Hyatt brand is set to enter key global markets in 2024 with Park Hyatt London River Thames (United Kingdom), Park Hyatt Johannesburg (South Africa), Park Hyatt Changsha (China) and Park Hyatt Kuala Lumpur (Malaysia). The brand will also expand its presence in Mexico with Park Hyatt Cancun and Park Hyatt Los Cabos at Cabo Del Sol expected to open in 2025, and Park Hyatt Mexico City, expected to open in 2026.
  • Hyatt continues to strengthen its position as the world’s largest portfolio of luxury all-inclusive resorts, including the recent launch of the ultra-luxury brand, Impression by Secrets. The Inclusive Collection is also set to expand brand presence in Europe with two new market entries in 2024: Zoetry Halkidiki Resort & Spa in Greece and Dreams Madeira Resort, Spa & Marina in Portugal.
  • The Thompson Hotels brand is also gaining significant momentum in Europe, with upcoming brand debuts in highly sought-after destinations such as Thompson Rome (Italy), Thompson Vienna (Austria) and Thompson Seville (Spain). Additionally, Hyatt plans to bring the Thompson Hotels brand to Asia Pacific with Thompson Shanghai Expo (China), expected to open in 2025. The brand continues to grow across the Americas with Thompson Houston, Thompson Palm Springs and Thompson South Beach, all expected to open this year, and Thompson Puerto Vallarta (Mexico) in 2027.

New Markets and New Developers with Hyatt Studios

To serve Hyatt’s guest base on more stay occasions and introduce new guests to the Hyatt portfolio, Hyatt is rapidly growing its first upper-midscale extended-stay brand in the Americas, Hyatt Studios. Leveraging Hyatt's proven success in select-service hotels, the Hyatt Studios brand extends the renowned Hyatt experience and commitment to quality into markets where traditional Hyatt properties may not be located. Announced just last year, the Hyatt Studios brand has gained significant interest, with approximately 200 deals in various stages of negotiation with both single-unit developers and multi-unit developers, including executed deals representing approximately 2,000 pipeline rooms across North America. This is a testament to the desire from both developers and guests for a Hyatt brand that can operate in secondary, suburban and tertiary markets alike.

Upcoming properties, nearly half of which represent new markets for Hyatt and deals with first-time Hyatt owners, include Hyatt Studios in California, Colorado, Ontario (Mississauga) and Texas.

Global Expansion: Brand Growth Across All Collections

“In many cases, we’re working with owners who either own or plan to develop properties across all four of our brand portfolios,” said Jim Chu, executive vice president and chief growth officer, Hyatt. “Our growth is only possible because of our strong relationships with both managed and franchised owners. Whether it’s winning deals in highly competitive markets like Park City, Utah with Grand Hyatt Deer Valley or innovating with one-of-a-kind projects like Grand Hyatt Kuwait Residences, we work tirelessly to be the preferred brand for owners and developers.”

Independent Collection hotels are all unique – from storied properties and vibrant neighborhood locales to immersive retreats. Growth updates include The Unbound Collection by Hyatt brand opening the Hotel Fluela Davos in 2023 and Kennedy 89 in Frankfurt this year.

The JdV by Hyatt brand, which includes the exclusive collaboration with Lindner Hotels, will expand further in Germany this year with me and all hotel berlin east side and Lindner Hotel Boltenhagen, which opened in October 2023. The JdV by Hyatt brand is a prime opportunity for boutique conversions and continues to extend Hyatt’s brand presence in new markets such as Southampton, NY with the Bentley Hotel slated to open in 2024.

The Destination by Hyatt brand is expected to debut in Canada this summer in the year-round outdoor adventure destination of Ramara, Ontario, as well as in Saint Lucia with Cas En Bas Beach Resort, expected to open in 2024 as the first Destination by Hyatt branded resort and residences on the island.

Timeless Collection hotels deliver the comforts of a home away from home with a consistently elevated experience. Expansion of the collection is expected to include a new Hyatt Regency Panama City and Grand Hyatt Los Cabos (2026.)

The Hyatt Place and Hyatt House brands continue to be key organic drivers for Hyatt across the globe. In Asia Pacific, the brands are marking the first entry into new cities with Hyatt Place Kuala Lumpur Bukit Jalil (Malaysia), which opened in the fall 2023, and Hyatt Place Ha Long Bay Bai Chay (Vietnam), Hyatt Place Makassar (Indonesia), and Hyatt House Tokyo Shibuya (Japan) – all expected to open before 2025. In the United Kingdom, Hyatt Place Leeds and Hyatt House Leeds will be the city’s first dual-branded Hyatt development (opening in fall of 2024), and in North America, new Hyatt Place and Hyatt House hotels are expected to open soon in key U.S. leisure markets such as Orlando, Fla., Raleigh, NC, Mariposa, Calif. near Yosemite, Casper, Wyo., Nashville, Tenn. and Daytona Beach, Fla. In Latin America, Hyatt Place Piedras Negras (Mexico), is expected to open in 2026, and Hyatt Place San Jose Cariari (Costa Rica) is expected to open in 2025.

Boundless Collection hotels deliver best-in-class offerings and compelling experiences designed to excite and inspire. New properties in global markets include:

  • The Hyatt Centric brand is expected to expand in Canada with Hyatt Centric Toronto City Centre, anticipated to open this summer, Hyatt Centric Victoria – Old Town slated to open in 2026, and Hyatt Centric Winnipeg Downtown, an adaptive reuse project slated for 2025. The brand will debut in new Asia Pacific markets in 2024 with Hyatt Centric Zhongshan Park Shanghai (China) and Hyatt Centric City Centre Kuala Lumpur (Malaysia), a 311-room property located on Jalan Sultan Ismail. In Latin America, the brand will also debut in two countries with Hyatt Centric Escazu San Jose (Costa Rica) and Hyatt Centric Santo Domingo (Dominican Republic) – both expected to open in 2024. In 2025, Hyatt will add a hotel in a new market in Mexico with Hyatt Centric Queretaro.
  • The Caption by Hyatt brand continues to gain momentum globally with the brand’s planned debut in Asia Pacific with Caption by Hyatt Zhongshan Park Shanghai (China) and in Japan Caption by Hyatt Namba Osaka in 2024, followed by Caption by Hyatt Kabutocho Tokyo in 2025. In addition, Caption by Hyatt brand presence in Tennessee continues to grow with Caption by Hyatt Downtown Nashville/The Gulch, expected to open in 2025, and Caption by Hyatt Chattanooga Downtown, expected to open in 2026.
  • Through the integration of Dream Hotel Group, 2024 is expected to bring Dream Valle de Guadalupe, the brand’s first property in Mexico and a new market for Hyatt.

Inclusive Collection resorts deliver immersive, elevated experiences where everything is seamlessly included. Upcoming expansion includes:

  • Secrets Resorts & Spas is expected to expand its footprint in Mexico and the Caribbean in 2024 with Secrets Tides Punta Cana (Dominican Republic), a 668-suite seaside haven in Uvero Alto, and Secrets Playa Blanca Costa Mujeres, a 507 all-suite resort 12 miles north of Cancun in Mexico.
  • Dreams Resorts & Spas is expected to add two new resorts in Mexico in 2024 with the upcoming Dreams Grand Island in Cancun and Dreams Estrella Del Mar Mazatlan, a 350-room property, which also marks a new destination for the brand.
  • Hyatt Vivid Grand Island, which will be the first property under the recently announced adults-only Hyatt Vivid brand, is expected to open in 2024 adjacent to Dreams Grand Island, combining 19 culinary concepts, a 26,000 square foot spa, multiple pools, a beach club, and more.
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