Hyatt's Growth Plan Highlights Premium Brands and Global Markets

25.08.2023 - 14:17 / skift.com / Asia Pacific / Sean Oneill

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Hyatt Hotels Corporation announced they are positioned for continued transformative growth in 2023 and beyond with a record pipeline of approximately 117,000 rooms worldwide as of year-end 2022. Nearly one in four pipeline properties is classified as a lifestyle hotel, further strengthening Hyatt’s leadership position in the luxury, lifestyle and leisure segments. A notable drive 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 Dream hotels, Unscripted hotels and The Chatwal into the Hyatt portfolio. Additionally, the Caption by Hyatt brand is poised for significant growth. The brand is expected to grow its presence in Tennessee and enter California, China, and Japan in 2023, Vietnam in 2025 and Sydney in the coming years. The Park Hyatt brand is set to reestablish its presence in South Africa, make its entrance to Morocco, return to London and expand in the Asia Pacific region including Taiwan, Malaysia and Vietnam. In 2023, the Andaz brand will celebrate expansion into new markets such as Qatar, Thailand, Mexico, Macau and Greater China. Hyatt’s Boundless Collection and Independent Collection feature a healthy pipeline of expected openings in 2023 and 2024 including the growth of Thompson Hotels with two chic urban properties; expansion of the Hyatt Centric brand in prime destinations; the anticipated debut of the Destination by Hyatt brand in Florida as well as in Asia Pacific; the planned debut of the JdV by Hyatt brand in Rhode Island and in Goa; and the anticipated opening of The Unbound Collection by Hyatt in Mexico. Hyatt also offers a healthy pipeline of expected openings of all-inclusive resorts in 2023 including Bulgaria, and Mexico.

First Hospitality said they realized significant growth in 2022, increasing hotels under management by 25%. The company expanded into three new markets, bringing First Hospitality’s diverse portfolio of branded and independent properties to over 50 hotels across 11 states. 

Skift Note: For context, find Skift’s Hyatt coverage here and read Skift’s profile of First Hospitality’s strategy.

Jefferies gave their preview of the hotel investment event, the ALIS Conference, saying they anticipate the lodging management teams will provide incremental color on the trajectory of lodging in a variety of economic scenarios. Jefferies is focused on top-line risks which they think manifest in 2H23. Clearly, there is a lot of uncertainty from Wall Street on the lodging sector, less