Hyatt Hotels Corporation has shared that Hyatt is positioned for continued transformative growth in 2023 and beyond, with a record pipeline of approximately 117,000 rooms worldwide as of year-end 2022.
Notably, nearly one in four pipeline properties is classified as a lifestyle hotel, representing 10 per cent of the existing base of hotels, further strengthening Hyatt's leadership position in the luxury, lifestyle and leisure segments. The significant growth of these high-value properties in Hyatt's portfolio expands the compelling guest experiences that can further drive World of Hyatt loyalty penetration across the Hyatt portfolio.
A notable driver of this growth is the announced asset-light acquisition of Dream Hotel Group's lifestyle hotel brand and management platform which is expected to bring established lifestyle hotel brands – including Dream Hotels,
Unscripted Hotels and The Chatwal – into the Hyatt portfolio. Dream Hotel Group properties are known for their experiential hospitality including hotspot restaurants and nightlife venues built on strategic and unconventional programming and brand collaborations, paired with signature designs that balance substance with sizzle.
The acquisition will welcome more than 600 new colleagues into the Hyatt family, bringing deep expertise in experiential hospitality to Hyatt's global portfolio of lifestyle offerings and extending Hyatt's brand footprint in strategic destinations including Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha and New York City. It will also mark the entrance of Hyatt brands into markets such as the Catskills in New York and Valle de Guadalupe in Mexico.
Additionally, the Caption by Hyatt brand – which combines the design and comfort of an upscale, lifestyle-forward hotel with the flexibility of a select-service property – is poised for significant growth following the successful opening of Caption by Hyatt Beale Street Memphis in 2022.
The Caption by Hyatt brand is expanding internationally with previously announced properties expected to open in China and Japan in 2023, Vietnam in 2025 and Sydney in the coming years. Grounded in caring for people and place and creating connections between them, the Caption by Hyatt brand is committed to hiring diverse talent, vendors, artisans, and suppliers – and celebrating the diversity of people in the communities in which Caption by Hyatt hotels are located.
"Through our intentional long-term growth strategy and by working closely with owners, Hyatt boasts five years of industry-leading organic net rooms growth," said Jim Chu, executive vice president, chief growth officer, Hyatt 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." -Bernama