Hyatt Hotels & Resorts is working through a record global pipeline of 129,000 rooms. The figure has grown by 85% since 2017, as the company continues to accelerate its pace of signings, supported by new brands and entry into new country markets.
The group says its progress is due to a combination of factors that persuade owners to take on one of the Hyatt brands for their hotels. Hyatt is also unusual among the major international brand groups, in that it will acquire hotel properties directly, if it sees a compelling opportunity that will take the group into a new geographical location or market segment.
Building a network
“We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests,” explained CEO Mark Hoplamazian. “Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners.”
The growing portfolio of hotels matches a growth in consumer demand, both for corporate and leisure stays. Hyatt has successfully grown demand via several routes including its World of Hyatt loyalty programme. This has seen its membership numbers grow by four times since 2017, and at the end of Q1 of 2024 was up 22% year on year, at 46 million. Hyatt reckons it has, on a per hotel basis, around 30% more members than its larger peers.
With the lifestyle segment growing fast across the hotel space, Hyatt is playing its part with brands such as Thompson. The group has upcoming openings in the US with Thompson Palm Springs opening in September 2024, followed shortly after by the launch of Thompson Miami Beach. Further ahead, plans are in place for the first urban Thompson property in Mexico, Thompson Monterrey. It is expected to open in 2026, within the Torre IKON, a mixed-use 31-story tower.
Growing lifestyle hotels in Europe
Thompson is also making headway in Europe. The 70 room Thompson Rome will open in mid 2025, located in a historic property that was once home to the Italian Communist Party. It will be followed by completion of the brand’s first Spanish property, Thompson Seville, in 2026. And the first Thompson in Asia Pacific will open in 2025 with Thompson Shanghai Expo located adjacent to the Expo Park Shanghai.
Hyatt is rolling out more of its brand portfolio in Asia Pacific, as it picks up the pace of expansion. 2025 will see the launch of its first Andaz branded hotel in Bangkok, Andaz One Bangkok. The Caption by Hyatt brand, launching this year in Shanghai and Osaka, will build further next year with openings in Ba Son Saigon in Vietnam, Tokyo and Sydney. Also expanding will be Hyatt Centric. Hyatt Centric Ocean Front Xiamen will open in early 2025, followed by a Centric hotel in Kuala Lumpur. Properties in Bangalore and Sapporo will follow with openings planned for 2026.
