by Lacey Pfalz
Last updated: 9:45 AM ET, Fri January 19, 2024
Hyatt Hotels Corporation shared its projections for 2024, aiming to continue its record-breaking expansion begun in 2023, which saw a pipeline of 127,000 rooms worldwide at the end of the year.
The corporation’s luxury, resort and lifestyle portfolios are seeing the greatest growth. Since the end of 2017, it added nearly 90,000 rooms, representing 45 percent of Hyatt’s portfolio. By 2025, it will add over 35 hotels in its luxury brands.
"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.”
This year, the Park Hyatt will open new hotels in London, Johannesburg, Changsha in China and Kuala Lumpur. In 2025, the Park Hyatt Cancun and Park Hyatt Los Cabos at Cabo Del Sol will also open. The Park Hyatt Mexico City will join the other two in 2026.
The Inclusive Collection, Hyatt’s all-inclusive resort brand, will open the Zoetry Halkidiki Resort & Spa in Greece and the Dreams Madeira Resort, Spa & Marina in Portugal this year. In the Caribbean, the Inclusive Collection will welcome the Secrets Tides Punta Cana, the Secrets Playa Blanca Costa Mujeres, Dreams Grand Island in Cancun, Dreams Estrella del Mar Mazatlán and the Hyatt Vivid Grand Island.
The Thompson Hotels brand is growing throughout Europe, with new hotels opening this year in Rome, Vienna and Seville, along with three new openings in the U.S. with the Thompson Houston, Thompson Palm Springs and Thompson South Beach. In 2025, the brand will open a new hotel in Shanghai, while the Thompson Puerto Vallarta will debut in 2027.
Hyatt is also projected to grow its first upper-midscale extended-stay brand in the Americas, Hyatt Studios, which was announced last year. The executed deals currently represent 2,000 rooms across North America, with openings projected in Foley, Huntsville and Mobile in Alabama, Marysville and Murrieta in California, Denver Airport and Yampa in Colorado and many more.
The Independent Collection, which focuses on independently owned hotels, will see the opening of Kennedy 89 in Frankfurt, the Bentley Hotel in Southampton and the Cas En Bas Beach Resort in Saint Lucia this year.
The Timeless Collection will welcome the Hyatt Regency Panama City, the Grand Hyatt Deer Valley in Park City, Utah, the Hyatt Place Ha Long Bay Bai Chay, Hyatt Place Makassar in Indonesia, the Hyatt House Tokyo Shibuya and the Hyatt Place Leeds and Hyatt House Leeds, which will be the U.K.’s first dual-branded Hyatt development.
This year, the Boundless Collection will offer the Hyatt Centric Toronto City Centre, the Hyatt Zhongshan Park Shanghai, Hyatt Centric City Centre Kuala Lumpur, Hyatt Centric Escazu San Jose, Hyatt Centric Santo Domingo, all this year. Additionally, the Caption by Hyatt brand will welcome the first of the brand in Shanghai, along with the Caption by Hyatt Namba Osaka.
Additionally, following the purchase of Dream Hotel Group in 2023, the brand will open the Dream Valle de Guadalupe this year as well.
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