Hyatt Forms Joint Venture with Grupo Piñero

Hyatt Hotels Corporation has completed a 50/50 joint venture with Grupo Piñero, adding 22 Bahia Principe Hotels & Resorts to its all-inclusive portfolio, significantly expanding its offerings. The partnership, based in Palma de Mallorca, Spain, includes approximately 12,000 rooms across properties in the Dominican Republic, Mexico, Jamaica, and Spain, as well as the exclusive Cayo Levantado Resort. Julio Pérez will lead the joint venture, with Encarna Piñero serving as Chairman and Izet Mahalbasic as Chief Financial Officer. This agreement aligns with Hyatt's asset-light strategy and is expected to enhance the World of Hyatt loyalty program, which will include these new properties. Both companies aim to drive sustainable growth and innovation within the all-inclusive sector, leveraging their combined expertise. The deal represents a significant step in Hyatt's ongoing strategy to increase its presence in the all-inclusive market, following past expansions.