In a strategic move to bolster its all-inclusive offerings, Hyatt Hotels Corporation has officially finalized a joint venture with the renowned Spanish tourism group, Grupo Pinero. This partnership will see both companies share ownership and management of 22 resort properties under the Bahia Principe brand, which boasts around 12,000 guest rooms—an impressive addition to Hyatt’s existing portfolio. The details of this partnership, initially revealed in October, reflect Hyatt’s commitment to expanding its presence within the competitive all-inclusive market, responding to changing consumer travel preferences and the growth of leisure travel.
The collaboration will bring aboard a total of 21 Bahia Principe resorts located in desirable destinations, including the Dominican Republic, Mexico, Jamaica, and Spain. Notably, the Cayo Levantado Resort in the Dominican Republic will also join the fold. By integrating such a diverse range of properties into its Inclusive Collection, Hyatt diversifies its offerings and enhances its appeal to travelers seeking comprehensive vacation experiences. This approach is increasingly popular among guests, as they prefer resorts that bundle accommodations, dining, and entertainment into one seamless package.
At the helm of this joint venture is Julio Perez, the current CEO of Bahia Principe, showcasing a seamless transition of leadership within the partnership. Encarna Pinero, the global CEO of Grupo Pinero, will serve as chairman of the board, ensuring that the legacy and standards of the Bahia Principe brand are maintained throughout the management process. The financial operations will be overseen by Hyatt’s Izet Mahalbasic, who has been appointed as CFO. This well-structured leadership team is poised to drive the future of this joint venture, leveraging the strengths of both organizations.
Hyatt’s ambitious move into the all-inclusive resort space began in 2013 with the launch of its Hyatt Ziva and Hyatt Zilara concepts. The company’s acquisition of Apple Leisure Group in 2021 marked a significant expansion, adding over 100 properties to its all-inclusive category. The decision to forge a partnership with Grupo Pinero is a testament to Hyatt’s relentless pursuit of growth within this lucrative sector. The hospitality giant now operates more than 140 all-inclusive properties across 10 distinct brands, reflecting its extensive scalability and market reach.
Moreover, Hyatt’s efforts to further broaden its horizons include ongoing exclusive negotiations with Playa Hotels & Resorts, which hints at a possible acquisition that could further streamline its operations in the all-inclusive segment. As the travel landscape evolves, ownership models that provide integrated experiences are becoming increasingly popular. Grupo Pinero, founded in 1975 and known for its family-oriented approach, has a strong footing in the tourism industry, operating hotels and tour operations through its Soltour brand. This joint venture exemplifies how strategic collaborations can enhance brand value and consumer experience in the ever-competitive hospitality sector.
This alliance not only signifies a crucial step for Hyatt in its all-inclusive journey but also highlights the importance of strategic partnerships in adapting to the dynamic needs of today’s travelers. The collaborative efforts between Hyatt and Grupo Pinero are positioning them competitively in the expanding landscape of all-inclusive hospitality.