Hyatt Hotels Corporation and Grupo Piñero have completed a strategic joint venture, adding the Bahia Principe Hotels & Resorts brand to Hyatt’s all-inclusive portfolio. This joint venture, based in Palma de Mallorca, Spain, will manage Bahia Principe-branded properties and own the Bahia Principe brand.
The deal brings 22 resorts, comprising approximately 12,000 rooms, to Hyatt’s Inclusive Collection. These include 21 resorts under the Bahia Principe Hotels & Resorts brand located across the Dominican Republic, Mexico, Jamaica, and Spain and the exclusive Cayo Levantado Resort in the Dominican Republic.
Grupo Piñero, the owner of the resorts managed by the joint venture, is committed to enhancing the quality of Bahia Principe hotels through renovation projects. With Hyatt’s support, the firm plans to grow the brand further, particularly among travelers in the Americas and other key markets.
Bahia Principe’s CEO, Julio Pérez, will lead the joint venture, with Grupo Piñero’s current Global CEO, Encarna Piñero, serving as Chairman of the Board. Izet Mahalbasic, Vice President of Hotel Finance for Hyatt, will join the joint venture as Chief Financial Officer.
The joint venture aims to drive sustainable growth and innovation within the all-inclusive space. The details regarding Bahia Principe Hotels & Resorts’ participation in the World of Hyatt loyalty program will be announced later.
This venture is part of Hyatt’s ongoing strategy to expand its all-inclusive offerings. It began with creating the Hyatt Ziva and Hyatt Zilara brands in 2013 and continued with the acquisition of Apple Leisure Group in 2021.
Source: https://www.hotelnewsresource.com/article134626.html
Photos Source: Bahia Principe Grand El Portillo Dominican Republic – Image Credit Hyatt, Hotel News Resource
