Hyatt Enters All Inclusive Market Through Partnership with Playa Hotels
Not only can you earn Hyatt Gold Passport points in Vegas, you will soon earn them during your next all-inclusive stay in Mexico, Jamaica and the Dominican Republic.
Hyatt recently announced that it will officially enter the all-inclusive market by investing $325 million in a partnership with Playa Hotels & Resorts.
The two sides will form franchise agreements for six resorts, which will operate under the Hyatt brand upon the completion of "significant renovations." The first two Hyatt-branded all-inclusive resorts are set to be introduced later this year and are existing properties located in Mexico. Four others will roll out in 2014 and 2015 in Jamaica, Mexico and the Dominican Republic.
According to the release, Hyatt has its eyes set on the ever-growing all-inclusive segment.
“The all-inclusive segment has grown rapidly over the past 20 years,” said Stephen Haggerty, global head, real estate and capital strategy for Hyatt. “This transaction will position us to introduce Hyatt’s authentic hospitality to a new guest base, while offering great new resort options in sought-after destinations to our existing guests. Our agreement with Playa also provides us with a platform for future global growth in an attractive segment, and our investment is structured to generate strong returns through our common and preferred interests as well as recurring franchise fees.”
We'll be sure to pass on the word when the refurbished resorts are introduced. The Barcelo Karmina Palace Deluxe, shown above, is a Playa property in Mexico, but the names of the specific properties have not yet been announced. Any guesses?