US-headquartered Hyatt Hotels Corporation has maintained its pipeline at 113,000 rooms, the same figure recorded for both Q1 and Q2 2022.
However, by site count, developments rose by 2% quarter on quarter, from 540 to 550 hotels.
Apple additions
These figures include Apple Leisure Group’s (ALG) pipeline contribution of approximately 20 hotels/7,000 rooms. Hyatt acquired the resort brand management firm in 2021.
Excluding ALG, the pipeline was approximately 106,000 rooms.
Today’s total
In the second quarter of 2022, 28 new hotels (or 5,510 rooms) joined Hyatt’s system, including 10 ALG resorts representing 2,502 rooms.
System-wide net rooms growth was 19% in Q2, however, excluding ALG, net rooms growth was 4.6%. Geographically, the Southeast Asia, Greater China, Australia, New Zealand, South Korea, Japan and Micronesia (ASPAC) management and franchising segment’s net rooms increased 6.1% compared to the second quarter of 2021. The same segment in Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) saw keys rise by 7.9% in identical compared periods.
Overall, Hyatt’s portfolio currently stands at 1,468 sites.
Opening delays
The group’s president and CEO, Mark S. Hoplamazian, said: “We had a strong second quarter of gross rooms expansion through the opening of approximately 5,500 rooms during the quarter.
“While there have been delays in the timing of openings across the industry, we are particularly encouraged by the volume of conversion opportunities driven by the compelling value of our brands, and expect net room growth for the full year to be greater than 6%.”
Trading assets
During the quarter, the firm sold four hotels in the US. Subsequently at the beginning of August it acquired Hotel Irvine located in Irvine, California, for approximately $135 million from an unrelated third party.
Hyatt is currently marketing two hotels for sale and intends to successfully execute plans to realise approximately $2 billion of gross proceeds from the sales of real estate, net of acquisitions, by the end of 2024 as part of its expanded asset-disposition commitment announced in August 2021.
Major projects
The TOPHOTELPROJECTS database currently showcases details of 371 Hyatt group high end projects. Two major projects delivering in Q3 2023 include Park Hyatt London River Thames – One Nine Elms and Hyatt Regency Tbilisi.
The UK capital luxury hotel will add 203 rooms to the group’s portfolio in one of two towers within the One Nine Elms development. The 18-floor site will include a luxury spa, ballroom and clubhouse restaurant set above the hotel-room floors. Meanwhile, the 170-key Georgian capital property will feature more than 8,100 sq ft (758 sq m) of meeting space, including a ballroom, as well as four food and beverage outlets and a spa and fitness centre.
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As it continues to grow, Hyatt Hotels Corporation doesn’t lose sight of what’s most important – people. Hyatt is a company that was built by family.
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