Hyatt and Grupo Piñero form joint endeavor to broaden Bahia Principe Hotels

The contract marks a considerable turning point for both business, enhancing Hyatt’s all-encompassing platform and Grupo Piñero’s capability to reach brand-new visitors in crucial markets.

Under this 50/50 asset-light contract, the joint endeavor is headquartered in Palma de Mallorca, Spain, and will own the Bahia Principe brand name. It consists of 22 resorts amounting to roughly 12,000 spaces throughout the Dominican Republic, Mexico, Jamaica, and Spain, in addition to the special Cayo Levantado Resort in the Dominican Republic. This partnership broadens Hyatt’s extensive portfolio, providing World of Hyatt members more chances to experience complete travel and boosting Grupo Piñero’s tradition in the all-encompassing sector.

“The addition of Bahia Principe’s turn to Hyatt’s Inclusive Collection will improve Hyatt’s extensive offering and enhance our management position with among the biggest collections of extensive resorts on the planet,” “Grupo Piñero’s household service culture, shared worths, and know-how in the 4- to luxury all-encompassing classification paired with Hyatt’s management in high-end extensive produces effective chances throughout Hyatt’s service– for visitors and World of Hyatt members looking for quality complete experiences throughout stay events, and for hotel owners who can gain from the network result of more tourists within the portfolio.” – Mark Hoplamazian, President and Chief Executive Officer, Hyatt.

“For Grupo Piñero, the asset-light long-lasting tactical joint endeavor with Hyatt will enhance Bahia Principe’s tradition and represents a clear course to develop on its success and development method for the future,””Bahia Principe has actually experienced quick development considering thatthe opening of our very first residential or commercial property in the Dominican Republic almost 30 years back. Throughout our journey, we have actually kept our core beliefs as a family-owned service, constantly being loyal to our function of looking for to produce a favorable social and financial effect for the regional neighborhoods of the locations in which we run. We value and acknowledge these worths in Hyatt’s function of care and eagerly anticipate the next chapter in Bahia Principe’s brilliant future.” – Encarna Piñero, Global CEO of Grupo Piñero.

The management structure of the joint endeavor consists of Julio Pérez, the present CEO of Bahia Principe, as Chief Executive Officer, and Encarna Piñero, Grupo Piñero’s Global CEO, as Chairman of the Board. In Addition, Izet Mahalbasic, Vice President Hotel Finance for Hyatt, signs up with as Chief Financial Officer. This group will concentrate on driving sustainable development, development, and quality enhancements within the complete hospitality area.

“This joint endeavor with Grupo Piñero boosts Hyatt’s all-encompassing platform throughout numerous measurements: more spaces, a broadened portfolio, and more offerings for visitors and World of Hyatt members. Grupo Piñero has actually constructed a remarkable household tradition over the previous 50 years, and together we eagerly anticipate driving sustainable development and development within the complete area.” – Mark Hoplamazian, President and Chief Executive Officer of Hyatt

Grupo Piñero is devoted to continually enhancing the Bahia Principe hotels through restoration jobs as part of its development technique.

“It is an excellent honor for Grupo Piñero to start this long-lasting alliance with Hyatt– a groundbreaking design for both business that guarantees substantial advantages and improvements for our particular methods. We are positive that the mix of our years of experience as leaders in the complete sector and Hyatt’s comprehensive worldwide platform and systems will drive success for our joint endeavor.” – Encarna Piñero

Structure on Hyatt’s history of development in the extensive market– beginning with the production of Hyatt Ziva and Hyatt Zilara brand names in 2013 and the acquisition of Apple Leisure Group in 2021– this joint endeavor strengthens Hyatt’s management position. By the end of 2024, Hyatt’s Inclusive Collection will incorporate over 140 residential or commercial properties internationally.

“I am thrilled to lead this tactical joint endeavor with Hyatt as we work to broaden the Bahia Principe Hotels & & Resorts brand name.” “Together, we will utilize our strengths to use an unequaled all-encompassing experience that will bring in tourists from around the globe. This turning point marks a crucial action for our business, and I am positive that this cooperation will assist us continue raising the quality and service requirements of the hospitality market.” – Julio Pérez, CEO of Bahia Principe

Information relating to when Bahia Principe Hotels & & Resorts will take part in the World of Hyatt commitment program will be shared at a later date.