Hyatt Hotels Corporation has announced a groundbreaking partnership with Grupo Piñero, finalising a long-term, asset-light joint venture to oversee the management of Bahia Principe Hotels & Resorts-branded properties. Headquartered in Palma de Mallorca, this 50/50 venture will also assume ownership of the renowned Bahia Principe brand, marking a significant expansion of Hyatt’s all-inclusive portfolio.
This partnership adds 22 resorts, totalling approximately 12,000 rooms, to Hyatt’s Inclusive Collection. The properties include 21 Bahia Principe resorts across the Dominican Republic, Mexico, Jamaica, and Spain, alongside the exclusive Cayo Levantado Resort in the Dominican Republic. Grupo Piñero, which owns the resorts, plans to enhance them through ongoing renovation projects, aligning with its commitment to quality and growth.
Hyatt aims to leverage Grupo Piñero’s established expertise in the all-inclusive market and its strong European customer base to broaden its appeal to travellers across the Americas and beyond. Mark Hoplamazian, President and CEO of Hyatt, remarked: “This joint venture with Grupo Piñero enhances Hyatt’s all-inclusive platform across multiple dimensions: more rooms, an expanded portfolio, and more offerings for our guests and World of Hyatt members. Grupo Piñero has built an exceptional family legacy over the past 50 years, and together we look forward to driving sustainable growth and innovation within the all-inclusive space.”
Encarna Piñero, Global CEO of Grupo Piñero and Chairman of the Board for the joint venture, shared her enthusiasm for the collaboration: “It is a great honour for Grupo Piñero to embark on this alliance with Hyatt-a groundbreaking model for both companies that promises significant benefits and advancements for our respective strategies. Combining our decades of expertise in the Caribbean’s all-inclusive sector with Hyatt’s extensive global platform will undoubtedly drive success.”
Leading the joint venture as CEO is Julio Pérez, Bahia Principe’s Chief Executive Officer, with Izet Mahalbasic, Hyatt’s Vice President of Hotel Finance, joining as Chief Financial Officer. Julio Pérez expressed his excitement for the future: “Together, we will leverage our strengths to offer an unparalleled all-inclusive experience that will attract travellers from around the world. This milestone marks an important step for our company, and I am confident that this collaboration will help us to continue raising the quality and service standards of the hospitality industry.”
This partnership represents a significant step forward in delivering exceptional all-inclusive experiences, blending Hyatt’s global reach with Grupo Piñero’s heritage and expertise in the sector.
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