Hyatt
already owned a 50% stake in the company. Now more than 20 Bahia properties are
part of its inclusive collection portfolio.
INTERNATIONAL
REPORT — Hyatt Hotels Corp. and Grupo Piñero are strengthening their joint
venture partnership with the announcement that the JV’s all-inclusive Bahia
Principe Hotels & Resorts portfolio can now earn and redeem points through
Hyatt’s loyalty program.
With this
integration, Bahia Principe becomes the ninth brand in Hyatt’s Inclusive
Collection portfolio. Participating Bahia Principe resorts include more than 20
locations and approximately 12,000 rooms in the Dominican Republic, Mexico,
Jamaica and Spain.
In 2024,
Hyatt Hotels Corp. and Palma de Mallorca, Spain-based Grupo Piñero entered into
a JV, in which Hyatt took a 50% stake in the company for $465 million
(approximately $148 million of which Grupo Piñero spent to renovate and upgrade
Bahia Principe resorts).
Hyatt has
made a major push in the last few years into the all-inclusive space,
highlighted by its $2.6 billion acquisition of Playa Hotels & Resorts,
which dramatically expanded its all-inclusive portfolio in Mexico, the
Dominican Republic and Jamaica.
After the
acquisition, six of the seven Playa-owned hotels that did not previously carry
a Hyatt flag were rebranded to Hyatt or Apple Leisure Group (which Hyatt
acquired in 2021).
A few months
later, continuing with its asset-light strategy, Hyatt sold the 14 assets to
Tortuga Resorts, a joint venture between an affiliate of Denver-based KSL
Capital Partners and a Mexican family office called Rodin.
Javier
Águila, president of Hyatt’s Inclusive Collection, said, “Bahia Principe has
built over decades a strong reputation for warm hospitality… welcoming these
resorts into World of Hyatt gives our members more ways to experience the joy
of all-inclusive travel, while continuing to build momentum behind our
strategic joint venture with a key partner such as Piñero.”
Julio Pérez,
CEO of Bahia Principe Hotels & Resorts, said, “This milestone takes place
in parallel with the rebranding of Bahia Principe Hotels & Resorts, through
which we have reorganized our resorts around two core segments: adults-only and
families.”