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Hyatt’s all-inclusive resort portfolio continues to grow.

On Monday morning, the Chicago-headquartered hotel giant announced a new Spain-based joint venture with Grupo Piñero, owner of the Bahia Principe Hotels & Resorts and Cayo Levantado Resort brands. Hyatt’s new joint venture will own the Bahia Principe brand and operate Bahia Principe-branded hotels and resorts around the world. It also increases Hyatt’s all-inclusive resort portfolio by 30%. Hyatt touted the “asset-light” nature of the deal, meaning Hyatt will not own any real estate.

The addition of Bahia Principe’s resorts to Hyatt’s inclusive collection will enhance Hyatt’s all-inclusive offering and strengthen our leadership position with one of the largest collections of all-inclusive resorts in the world,” said Hyatt CEO Mark Hoplamazian in a statement. “Grupo Pineiro’s family business culture, shared values, and four- With expertise in the five-star all-inclusive category, Hyatt’s leadership in luxury all-inclusive creates powerful opportunities across Hyatt’s business – for guests and Hyatt members worldwide who seek excellence. – Inclusive experiences for investment events and hotel owners who can benefit from the network effect of more travelers in the portfolio.”

The deal is expected to close in the coming months and builds on Hyatt’s 2021 Apple Leisure Group acquisition, which brought inclusive brands like Secrets and Dreams into World of Hyatt’s orbit. The planned Grupo Piñero venture will add 23 resorts with a total of more than 12,000 rooms to Hyatt’s inclusive collection. There are twenty-two resorts under the Bahia Principe brand and are located in Mexico, Jamaica, Spain and the Dominican Republic – including the Bahia Principe Grand Punta Cana, which TPG ranks as one of the best all-inclusive resorts in the Dominican Republic.

Also included in the deal Cayo Levantado Resortwhich opened last year in the Dominican Republic and is also gaining a reputation for its ultraluxury service at a value-for-night rate. Given how Apple Leisure has expanded the all-inclusive lineup since Hyatt took over, it’s natural to assume that Bahia Principe and Cayo Levantado will expand into new markets and brand territories.

While a specific price tag was not provided, the company’s announcement indicated that upgrades are planned for existing resorts: “Most of the proceeds from this transaction will be leveraged by Grupo Pineiro to enhance the existing Bahia Principe resort.”

“For Grupo Pineiro, the asset-light long-term strategic joint venture with Hyatt will strengthen Bahia Principe’s legacy and represent a clear path to build on its success and growth strategy for the future,” said Encarna Pineiro, Global CEO of Grupo Pineiro. In a statement. “Bahia Principe has experienced rapid growth since opening our first property in the Dominican Republic nearly 30 years ago. Throughout our journey, we have maintained our core beliefs as a family-owned business, always staying true to our purpose of creating. The places we Positive social and economic impact for the local communities where we operate We appreciate and recognize these values ​​in Hyatt’s purpose of care and look forward to the next chapter in Bahia Principe’s bright future.”

The world of Hyatt fans will have to wait a little longer to learn about the specialty on award redemption categories. The only details so far are that the new collection of all-inclusive resorts is “expected to join the World of Hyatt loyalty program at a later date.”

At all-inclusive resorts good things come to those who wait, we hope!

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