Hyatt again boosts all-inclusive platform

CHICAGO, PALMA DE MALLORCA, Spain – Hyatt Hotels Corp. and Grupo Piñero have finalized a 50-50, long-term, asset-light strategic joint venture, adding the Bahia Principe Hotels & Resorts brand to Hyatt’s existing all-inclusive portfolio.

The agreement brings 22 resorts with approximately 12,000 rooms, including 21 resorts under the Bahia Principe Hotels & Resorts brand located across the Dominican Republic, Mexico, Jamaica, and Spain, as well as the Cayo Levantado Resort in the Dominican Republic, to Hyatt’s Inclusive Collection.

Grupo Piñero is the owner of the resorts managed by the joint venture and will renovate Bahia Principe hotels as part of its ongoing goals and this transaction. Hyatt will provide expanded opportunities for growth with travelers in the Americas and other key markets.

Bahia Principe’s Chief Executive Officer Julio Pérez assumes leadership of the joint venture, with Grupo Piñero’s current Global Chief Executive Officer Encarna Piñero serving as Chairman of the Board. Izet Mahalbasic, vice president Hotel Finance for Hyatt, will join the joint venture as chief financial officer.

Grupo Piñero has built an exceptional family legacy over the past 50 years, and together we look forward to driving sustainable growth and innovation within the all-inclusive space.

Mark Hoplamazian

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Details regarding when and how Bahia Principe Hotels & Resorts will participate in the World of Hyatt loyalty program will be shared at a later date.

The deal closes as Hyatt last week announced it was in exclusive talks with all-inclusive player Playa Hotels & Resorts N.V. that may include the acquisition of the company by Hyatt. The exclusivity agreement will remain in place until February 3, 2025. Playa currently owns and/or managers some 24 resorts with 8,627 rooms with strength in resort markets such as Jamaica, Mexico and the Dominican Republic. Eight are third-party management agreements, while the other resorts are owned and managed by Playa. Playa Hotels and Hyatt already work together with Playa managing all-inclusives such as Hyatt Zilara and Hyatt Ziva.

“Grupo Piñero has built an exceptional family legacy over the past 50 years, and together we look forward to driving sustainable growth and innovation within the all-inclusive space,” said Hyatt President and CEO Mark Hoplamazian.

“We are confident that the combination of our decades of experience as leaders in the all-inclusive sector in the Caribbean and Hyatt’s extensive global all-inclusive platform and systems will drive success for our joint venture," said Encarna Piñero, global CEO of Grupo Piñero and chairman of the board.

Hyatt got started in the all-inclusive segment in 2013 with the creation of the Hyatt Ziva and Hyatt Zilara brands and in 2021 acquired the Apple Leisure Group, expanding to more than 140 globally across 10 brands in Hyatt’s Inclusive Collection by the end of 2024.

Grupo Piñero is a Spanish tourism group founded in 1975 by Pablo Piñero. Currently chaired by Isabel García Lorca and led since 2017 by Encarna Piñero, together with her sisters Isabel, chief sustainability officer and Lydia, chair of the Investment Committee.

Its activity includes four divisions: the hotel business, which has resorts in the Dominican Republic (first hotel group with the largest number of owned establishments), Mexico, Jamaica and Spain; the real estate and golf business, with residential complexes in the Dominican Republic and Mexico; the Tour Operator division, comprising Soltour, an independent tour operator in Spain and Portugal in the holiday segment; and the Mobility Incoming & Leisure division, which includes Coming2, the destination host that complements the offer through land and maritime transport services.

Today, Grupo Piñero has more than 15,000 employees in Spain, Portugal, Dominican Republic, Mexico, Jamaica, Switzerland, the U.S., Argentina and Luxemburg.