Hyatt to Add 23 All-Inclusive Resorts
Hyatt Hotels today announced plans for a long-term asset-light strategic joint venture with Grupo Piñero, which will manage Bahia Principe-branded hotels and resorts and own the Bahia Principe brand. The 50/50 joint venture is expected to expand Hyatt’s all-inclusive room portfolio by approximately 30%.
The transaction is anticipated to close in the coming months subject to customary closing conditions. Hyatt plans to appoint Bahia Principe’s current Chief Executive Officer Julio Pérez as Chief Executive Officer 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.
Upon closing, 23 resorts, totaling over 12,000 rooms, including 22 resorts under the Bahia Principe Hotels & Resorts brand located across the Dominican Republic, Mexico, Jamaica, and Spain, as well as the exclusive Cayo Levantado Resort in the Dominican Republic will be added to Hyatt’s Inclusive Collection.
Bahia Principe Hotels & Resorts is expected to join the World of Hyatt loyalty program at a later date.
