Hyatt to add 23 Bahia Principe all-inclusive hotels and resorts
Hyatt Hotels today announced plans to establish a long-term strategic joint venture with Grupo Piñero, which will manage Bahia Principe branded hotels and resorts and own the Bahia Principe brand. The 50/50 joint venture is expected to expand Hyatt’s all-inclusive room portfolio by approximately 30%.
The transaction is expected to close in the coming months, subject to customary closing conditions. Hyatt plans to appoint current Bahia Principe CEO Julio Pérez as CEO to lead the management company post-closing, while current Grupo Piñero global managing director Encarna Piñero will serve as president of the board of directors and that other officers will be appointed later. .
At closing, 23 resorts, totaling more than 12,000 rooms, including 22 resorts under the Bahia Principe Hotels & Resorts brand located in the Dominican Republic, Mexico, Jamaica and Spain, as well as the exclusive Cayo Levantado resort in the Dominican Republic, will be added. to Hyatt’s inclusive collection.
Bahia Principe Hotels & Resorts is expected to join the World of Hyatt loyalty program at a later date.