Hyatt to add Bahia Principe resorts to portfolio in new joint venture

Hyatt Hotels is planning to grow its Inclusive Collection by entering 50/50 joint venture with Spanish hospitality group Grupo Pinero, which owns Bahia Principe Hotels & Resorts.

The deal is expected to expand Hyatt’s all-inclusive room portfolio by approximately 30 per cent, according to a press release.

Grupo Pinero, meanwhile, views the strategic move as a way to build on its longstanding success in all-inclusive market and bring expanded opportunities to travellers in the Americas and other markets.

The two companies will manage Bahia Principe-branded hotels and resorts as well as jointly own the Bahia Principe brand.

The transaction is expected to close in the coming months and it will add 23 resorts and 12,000 guestrooms to Hyatt's Inclusive Collection.

These properties include 22 Bahia Principe resorts in the Dominican Republic, Mexico, Jamaica and Spain as well as the Cayo Levantado Resort in the Dominican Republic.

Hyatt plans to appoint Bahia Principe’s current CEO Julio Pérez as CEO to lead the management company following close, with Grupo Piñero’s current global chief executive officer Encarna Piñero serving as Chairman of the Board and additional officers to be named at a later time.

“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 Mark Hoplamazian, president and CEO of Hyatt, in a statement.

“Grupo Piñero’s family business culture, shared values, and expertise in the four- to five-star all-inclusive category coupled with Hyatt’s leadership in luxury all-inclusive creates powerful opportunities across Hyatt’s business – for guests and World of Hyatt members seeking quality all-inclusive experiences across stay occasions, and for hotel owners who can benefit from the network effect of more travelers within the portfolio.”

Bahia Principe resorts will also be integrated into the World of Hyatt loyalty program.

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