Hyatt Hotels Corp. highlighted its expected growth trajectory for 2024 and beyond, underscored by a record year of deal signings in 2023. The company reported a record pipeline of 127,000 rooms worldwide as of year-end 2023, which is expected to fuel asset-light earnings into the future. This record pipeline represents nearly 40 percent of existing rooms in the Hyatt portfolio.
"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,” Hyatt President and CEO Mark Hoplamazian said in a statement. “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.”
Since going public, Hyatt’s portfolio of hotels has nearly tripled while its development pipeline has quadrupled. The company also reported growth in the World of Hyatt platform which has quadrupled in membership in the past five years.
Luxury, Resort and Lifestyle Portfolios
Since the end of 2017, the addition of nearly 90,000 rooms in the luxury, resort and lifestyle categories now represents 45 percent of Hyatt's total portfolio. This growth has doubled the number of luxury rooms, tripled resort rooms, and quadrupled lifestyle rooms. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its collection of luxury brands.
Growth highlights in luxury, resort and lifestyle portfolios include:
- The Park Hyatt brand is set to enter key global markets in 2024 with Park Hyatt London River Thames (United Kingdom), Park Hyatt Johannesburg (South Africa), Park Hyatt Changsha (China) and Park Hyatt Kuala Lumpur (Malaysia). The brand will also expand its presence in Mexico with Park Hyatt Cancun and Park Hyatt Los Cabos at Cabo Del Sol expected to open in 2025, and Park Hyatt Mexico City, expected to open in 2026.
- The company also launched its ultra-luxury brand, Impression by Secrets. The Inclusive Collection is also set to expand in Europe with two new market entries in 2024: Zoetry Halkidiki Resort & Spa in Greece and Dreams Madeira Resort, Spa & Marina in Portugal.
- The Thompson Hotels brand is also gaining momentum in Europe, with upcoming brand debuts such as Thompson Rome (Italy), Thompson Vienna (Austria) and Thompson Seville (Spain). Additionally, Hyatt plans to bring the Thompson Hotels brand to Asia Pacific with Thompson Shanghai Expo (China), which is slated to open in 2025. The brand continues to grow across the Americas with Thompson Houston; the Thompson Palm Springs, Calif.; and the Thompson South Beach (Fla.), all expected to open this year, and Thompson Puerto Vallarta (Mexico) in 2027.
Hyatt Studios
Hyatt is growing its first upper-midscale extended-stay brand in the Americas, Hyatt Studios, moving into markets where traditional Hyatt properties may not be located. Announced last year, the Hyatt Studios brand has approximately 200 deals in various stages of negotiation with both single-unit and multi-unit developers, including executed deals representing approximately 2,000 pipeline rooms across North America.
Upcoming properties, nearly half of which represent new markets for Hyatt and deals with first-time Hyatt owners, include:
- Hyatt Studios Foley in Alabama
- Hyatt Studios Huntsville in Alabama
- Hyatt Studios Mobile / Tillman’s Corner in Alabama
- Hyatt Studios Marysville in California
- Hyatt Studios Murrieta in California
- Hyatt Studios Denver Airport 68th & Yampa in Colorado
- Hyatt Studios Bensenville in Illinois
- Hyatt Studios Greenwood in Indiana
- Hyatt Studios Kokomo in Indiana
- Hyatt Studios Louisville in Kentucky
- Hyatt Studios Portland ME Airport in Maine
- Hyatt Studios Flowood in Mississippi
- Hyatt Studios Mississauga in Ontario, Canada
- Hyatt Studios Knoxville Cedar Bluff in Tennessee
- Hyatt Studios Sevierville in Tennessee
- Hyatt Studios Texarkana in Texas
Global Expansion
“In many cases, we’re working with owners who either own or plan to develop properties across all four of our brand portfolios,” said Jim Chu, executive vice president and chief growth officer, Hyatt. “Our growth is only possible because of our strong relationships with both managed and franchised owners. Whether it’s winning deals in highly competitive markets like Park City, Utah with Grand Hyatt Deer Valley or innovating with one-of-a-kind projects like Grand Hyatt Kuwait Residences, we work tirelessly to be the preferred brand for owners and developers.”
Independent Collection growth updates include:
- The Unbound Collection by Hyatt brand is growing globally, including Hotel Flüela Davos, which opened in 2023 as the brand’s entry into Switzerland and the only European Hyatt property in an alpine ski destination. Additionally, Kennedy 89 in Frankfurt, Germany, is slated for fall of 2024 and The Keraton at the Plaza in Jakarta is slated for 2025, which will mark the debut of The Unbound Collection by Hyatt brand in Indonesia.
- The JdV by Hyatt brand, which includes the exclusive collaboration with Lindner Hotels, will expand further in Germany this year with me and all hotel berlin east side and Lindner Hotel Boltenhagen, which opened in October 2023. The JdV by Hyatt brand is growing in new markets such as Southampton, N.Y. with the Bentley Hotel slated to open in 2024.
- The Destination by Hyatt brand is expected to debut in Canada this summer in the year-round outdoor adventure destination of Ramara, Ontario, as well as in Saint Lucia with Cas En Bas Beach Resort, expected to open in 2024 as the first Destination by Hyatt branded resort and residences on the island.
Expansion of the Timeless Collection is expected around the following:
- Fueled by a recent brand refresh, the Hyatt Regency brand will continue its growth with Hyatt Regency Panama City, the first Hyatt Regency hotel in Panama, expected to open in 2024.
- The Grand Hyatt brand is entering new destinations with the recently opened Grand Hyatt Kuwait Residences pioneering residential offerings in the country, and the highly anticipated Grand Hyatt Deer Valley, expected to open later this year as the newest luxury hotel in the famed ski destination of Park City, Utah. Grand Hyatt Mexico Santa Fe is slated to open in 2025, as the first urban Grand Hyatt property in Mexico and Grand Hyatt Los Cabos (Mexico) is expected in 2026.
- The Hyatt Place and Hyatt House brands continue to be key organic drivers for Hyatt. In Asia Pacific, the brands are marking the first entry into new cities with Hyatt Place Kuala Lumpur Bukit Jalil (Malaysia), which opened in the fall 2023, and Hyatt Place Ha Long Bay Bai Chay (Vietnam), Hyatt Place Makassar (Indonesia) and the Hyatt House Tokyo Shibuya (Japan)—all expected to open before 2025. In the United Kingdom, Hyatt Place Leeds and Hyatt House Leeds will be the city’s first dual-branded Hyatt development (opening in fall of 2024), and in North America, new Hyatt Place and Hyatt House hotels are expected to open soon in key U.S. leisure markets such as Orlando; Raleigh, N.C.; Mariposa, Calif., near Yosemite; Casper, Wyo., Nashville; and Daytona Beach, Fla. In Latin America, Hyatt Place Piedras Negras (Mexico), is expected to open in 2026, and Hyatt Place San Jose Cariari (Costa Rica) is expected to open in 2025.
New Boundless Collection properties in global markets include:
- The Hyatt Centric brand is expected to expand in Canada with Hyatt Centric Toronto City Centre, anticipated to open this summer, Hyatt Centric Victoria – Old Town slated to open in 2026 and Hyatt Centric Winnipeg Downtown, an adaptive reuse project slated for 2025. The brand will debut in new Asia Pacific markets in 2024 with Hyatt Centric Zhongshan Park Shanghai (China) and Hyatt Centric City Centre Kuala Lumpur (Malaysia), a 311-room property located on Jalan Sultan Ismail. In Latin America, the brand will also debut in two countries with Hyatt Centric Escazu San Jose (Costa Rica) and Hyatt Centric Santo Domingo (Dominican Republic)—both expected to open in 2024. In 2025, Hyatt will add a hotel in a new market in Mexico with Hyatt Centric Queretaro.
- The Caption by Hyatt brand continues to gain momentum globally with the brand’s planned debut in Asia Pacific with Caption by Hyatt Zhongshan Park Shanghai (China) and in Japan Caption by Hyatt Namba Osaka in 2024, followed by Caption by Hyatt Kabutocho Tokyo in 2025. In addition, Caption by Hyatt brand presence in Tennessee continues to grow with Caption by Hyatt Downtown Nashville/The Gulch, expected to open in 2025, and Caption by Hyatt Chattanooga Downtown, expected to open in 2026.
- Through the integration of Dream Hotel Group, 2024 is expected to bring Dream Valle de Guadalupe, the brand’s first property in Mexico and a new market for Hyatt.
Upcoming expansion for the Inclusive Collection includes:
- Secrets Resorts & Spas is expected to expand its footprint in Mexico and the Caribbean in 2024 with Secrets Tides Punta Cana (Dominican Republic), a 668-suite seaside haven in Uvero Alto, and Secrets Playa Blanca Costa Mujeres, a 507 all-suite resort 12 miles north of Cancun in Mexico.
- Dreams Resorts & Spas is expected to add two new resorts in Mexico in 2024 with the upcoming Dreams Grand Island in Cancun and Dreams Estrella Del Mar Mazatlan, a 350-room property, which also marks a new destination for the brand.
- Hyatt Vivid Grand Island, which will be the first property under the recently announced adults-only Hyatt Vivid brand, is expected to open in 2024 adjacent to Dreams Grand Island, combining 19 culinary concepts, a 26,000-square-foot spa, multiple pools and a beach club.