Hyatt Hotels Corporation today announced that Hyatt presently has a record-high number of hotel rooms in its pipeline-as of 2022's end, the company reported approximately 117,000 rooms in development worldwide-positioning it for groundbreaking evolution in 2023 and beyond.
One-quarter of these pipeline properties fall under the classification of 'lifestyle hotel', which comprises 10 percent of Hyatt's existing hotel base. These high-value portfolio additions are anticipated to further strengthen the company's position as a leader in the luxury, lifestyle and leisure segments.
One significant driver of this growth is Hyatt's recently announced acquisition of Dream Hotel Group's management platform, as well as its established lifestyle and luxury brands-Dream Hotels, The Chatwal Hotels and Unscripted Hotels.
While the buyout comes with a dozen current properties in strategic destinations-Hollywood, Nashville, South Beach and the Catskills, among others-contracts were also signed for the development of twice as many future hotels in hotspots like Saint Lucia, Doha and Las Vegas.
Dream Hotel Group properties are known for their excellence in 'experiential hospitality' and its 600+ employees that have now joined the Hyatt family are bringing onboard their expertise in this niche.
The acquisition also marks the entry of Hyatt brands into new markets, including New York state's Catskills and Valle de Guadalupe in Baja California, Mexico.
Exterior rendering of the Caption by Hyatt Beale Street Memphis. (photo via Caption by Hyatt) ((photo via Caption by Hyatt))The new Caption by Hyatt hotel label-described as an upscale, lifestyle-forward brand-established only last year, is also set to expand its footprint significantly, both in North America and around the globe. Following the successful opening of Caption by Hyatt Beale Street in Memphis, the brand plans to expand its presence in Tennessee with Caption by Hyatt Chattanooga (coming in 2024), and also enter the California market with both Caption by Hyatt Roseville and Caption by Hyatt Sacramento (both set for 2026).
In addition, the Caption by Hyatt brand will grow its presence internationally with properties in Japan and China expected to debut this year, in Vietnam in 2025 and in Sydney further in the future.
"Through our intentional long-term growth strategy and by working closely with owners, Hyatt boasts five years of industry-leading organic net rooms growth," Jim Chu, Hyatt's executive vice president, chief growth officer, said in a statement. "Owners want to work with us because of our expertise, performance track record and optimal positioning in the industry. We have global scale, but we are nimble enough to create personal relationships, draw on our own experiences and lead with empathy."
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