by Lacey Pfalz
Last updated: 9:00 AM ET, Mon June 3, 2024
Hyatt Hotels Corporation continues its record-breaking hotel development this year, reporting that its development pipeline now numbers 129,000 rooms, a nearly 85 percent growth from 2017, with luxury, resort and lifestyle portfolios forming the core of this growth.?
Additionally, the World of Hyatt loyalty program membership numbers have quadrupled since 2017. As of the end of the first quarter of 2024, membership is up 22 percent and has reached 46 million members.?
Hyatt's ability to lead the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, president and chief executive officer, Hyatt. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners.
Lifestyle Brands Continue Fueling Growth
The popularity of lifestyle brands continues to grow, fueling Hyatts growth. Future property openings and rebranding under the lifestyle category in the Americas include the Thompson Palm Springs, Andaz Miami Beach, Thompson Miami Beach, The Legend Paracas Resort and The Digby.?
Further abroad, anticipated openings this year and next include me and all Berlin East Side, Hyatt Centric Cairo West, Andaz Doha, Thompson Rome and Caption by Hyatt Namba Osaka.?
New-Build Properties Expected to Open Soon?
Newly built hotels and resorts also comprise a sizeable share of Hyatts development, especially among the Grand Hyatt and Hyatt Studios brands. Hyatt Studios is the new upper-midscale extended-stay brand, which now boasts 250 deals.?
Several new hotels under the Grand Hyatt brand are expected to open this year and in 2025, including the Grand Hyatt Kunming, Grand Hyatt Deer Valley, Grand Hyatt Grand Cayman Hotel & Residences, Grand Hyatt Mexico City Santa Fe and Grand Hyatt Los Cabos.
Several deals under the Hyatt Studios brand have already been accepted, including in destinations like Ontario, Front Royal, Virginia, Oxford, Mississippi, Chesapeake, Virginia, Jacksonville, Florida and more.?
Inclusive Collection Resorts Continue Growth
Hyatts Inclusive Collection boasts 124 properties totaling over 41,000 rooms, offering some of the best all-inclusive resort experiences from Mexico to the Middle East.?
This year and the next, the Inclusive Collection will continue growing with the opening of the Dreams Madeira Resort Spa & Marina, Secrets Playa Esmeralda Punta Cana and Secrets Baby Beach Aruba.?
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