Industry NewsHyatt Shares Expected Growth Trajectory for 2024, Includes Pipeline of 127,000 Rooms

Hyatt Shares Expected Growth Trajectory for 2024, Includes Pipeline of 127,000 Rooms

CHICAGO—Hyatt Hotels Corporation updated its projected growth for 2024 and beyond. In 2023, Hyatt’s pipeline resulted in 127,000 rooms worldwide at year-end, which is expected to fuel its expansion this year. As a result, the pipeline represents nearly 40 percent of existing rooms in the Hyatt portfolio. Since going public, Hyatt’s hotel portfolio has nearly tripled while its development pipeline has quadrupled; the organic growth is underscored by conversions and acquisitions.

“We have been very intentional in our growth strategy and acquisitions, always prioritizing guest, customer, and owner preference as well as differentiation, and taking bold steps to stay ahead of market trends,” said Mark Hoplamazian, president and CEO, Hyatt. “Guided by our purpose of care, we believe our most exciting chapter is ahead of us, and we are committed to reinforcing our position as the preferred hospitality brand.”

Hyatt’s luxury, resort, and lifestyle hotels have added nearly 90,000 rooms since the end of 2017, representing 45 percent of Hyatt’s total portfolio. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its luxury, resort, and lifestyle portfolio. That includes entering global markets within the Park Hyatt portfolio in 20214 with hotels like Park Hyatt London River Thames, United Kingdom; Park Hyatt Johannesburg, South Africa; Park Hyatt Changsha, China; and Park Hyatt Kuala Lumpur, Malaysia. The brand will also expand its presence in Mexico with Park Hyatt Cancun and Park Hyatt Los Cabos at Cabo Del Sol expected to open in 2025, and Park Hyatt Mexico City, expected to open in 2026.

Hyatt’s Impression by Secrets brand is expected to open in two new markets in 2024: Zoetry Halkidiki Resort & Spa in Greece and Dreams Madeira Resort, Spa & Marina in Portugal.

Thompson Hotels’ upcoming properties include Thompson Rome, Italy; Thompson Vienna, Austria); and Thompson Seville, Spain. Additionally, Hyatt plans to bring the Thompson Hotels brand to Asia Pacific with Thompson Shanghai Expo, China, expected to open in 2025. The brand continues to grow across the Americas with Thompson Houston, Thompson Palm Springs, and Thompson South Beach, all expected to open this year, and Thompson Puerto Vallarta, Mexic, in 2027.

In addition, Hyatt is growing its Hyatt Studios brand, which was announced last year. Since then, it’s expanded to 200 deals in various stages of negotiation, with both single-unit developers and multi-unit developers, including deals representing approximately 2,000 rooms in North America. Upcoming properties, nearly half of which represent new markets for Hyatt and deals with first-time Hyatt owners, include:

  • Hyatt Studios Foley in Alabama
  • Hyatt Studios Huntsville in Alabama
  • Hyatt Studios Mobile / Tillman’s Corner in Alabama
  • Hyatt Studios Marysville in California
  • Hyatt Studios Murrieta in California
  • Hyatt Studios Denver Airport 68th & Yampa in Colorado
  • Hyatt Studios Bensenville in Illinois
  • Hyatt Studios Greenwood in Indiana
  • Hyatt Studios Kokomo in Indiana
  • Hyatt Studios Louisville in Kentucky
  • Hyatt Studios Portland ME Airport in Maine
  • Hyatt Studios Flowood in Mississippi
  • Hyatt Studios Mississauga in Ontario, Canada
  • Hyatt Studios Knoxville Cedar Bluff in Tennessee
  • Hyatt Studios Sevierville in Tennessee
  • Hyatt Studios Texarkana in Texas

“In many cases, we’re working with owners who either own or plan to develop properties across all four of our brand portfolios,” said Jim Chu, executive vice president and chief growth officer, Hyatt. “Our growth is only possible because of our strong relationships with both managed and franchised owners. Whether it’s winning deals in highly competitive markets like Park City, Utah with Grand Hyatt Deer Valley or innovating with one-of-a-kind projects like Grand Hyatt Kuwait Residences, we work tirelessly to be the preferred brand for owners and developers.”

Independent Collection Growth

The Unbound Collection by Hyatt brand is growing globally, including Hotel Flüela Davos, which opened in 2023 as the brand’s entry into Switzerland. Additionally, Kennedy 89 in Frankfurt, Germany is slated for the fall of 2024 and The Keraton at the Plaza in Jakarta is slated for 2025, which will mark the debut of The Unbound Collection by Hyatt brand in Indonesia.

The JdV by Hyatt brand, which includes the collaboration with Lindner Hotels, will expand further in Germany this year with me and all hotel berlin east side and Lindner Hotel Boltenhagen, which opened in October 2023. The JdV by Hyatt brand also includes the Bentley Hotel boutique conversion, which is slated to open in 2024.

The Destination by Hyatt brand is expected to debut in Canada this summer in Ramara, Ontario, as well as in Saint Lucia with Cas En Bas Beach Resort, expected to open in 2024 as the first Destination by Hyatt branded resort and residences on the island.

Timeless Collection Growth

The Hyatt Regency brand will continue its growth with Hyatt Regency Panama City, the first Hyatt Regency hotel in Panama, expected to open in 2024.

The Grand Hyatt brand is entering new destinations with the recently opened Grand Hyatt Kuwait Residences and the Grand Hyatt Deer Valley, expected to open later this year in Park City, Utah. Grand Hyatt Mexico Santa Fe is slated to open in 2025 as the first urban Grand Hyatt property in Mexico, and Grand Hyatt Los Cabos is expected in 2026.

The Hyatt Place and Hyatt House brands continue to be organic drivers. In Asia Pacific, the brands are marking the first entry into new cities with Hyatt Place Kuala Lumpur Bukit Jalil, Malaysia, which opened in the fall 2023; Hyatt Place Ha Long Bay Bai Chay, Vietnam; Hyatt Place Makassar, Indonesia; and Hyatt House Tokyo Shibuya, Japan—all expected to open before 2025. In the United Kingdom, Hyatt Place Leeds and Hyatt House Leeds will be the city’s first dual-branded Hyatt development, opening in fall of 2024, and in North America, new Hyatt Place and Hyatt House hotels are expected to open soon in U.S. leisure markets such as Orlando, Florida; Raleigh, North Carolina; Mariposa, California; Casper, Wyoming; Nashville, Tennessee; and Daytona Beach, Florida. In Latin America, Hyatt Place Piedras Negras, Mexico, is expected to open in 2026, and Hyatt Place San Jose Cariari, Costa Rica, is expected to open in 2025.

Boundless Collection Growth

The Hyatt Centric brand is expected to expand in Canada with Hyatt Centric Toronto City Centre, anticipated to open this summer, Hyatt Centric Victoria – Old Town slated to open in 2026, and Hyatt Centric Winnipeg Downtown, an adaptive reuse project slated for 2025. The brand will debut in new Asia Pacific markets in 2024 with Hyatt Centric Zhongshan Park Shanghai, China; and Hyatt Centric City Centre Kuala Lumpur, Malaysia, a 311-room property located on Jalan Sultan Ismail. In Latin America, the brand will also debut in two countries with Hyatt Centric Escazu San Jose, Costa Rica, and Hyatt Centric Santo Doming, Dominican Republic, both expected to open in 2024. In 2025, Hyatt will add a hotel in a new market in Mexico with Hyatt Centric Queretaro.

The Caption by Hyatt brand continues to gain momentum globally with the brand’s planned debut in Asia Pacific with Caption by Hyatt Zhongshan Park Shanghai, China, and in Japan Caption by Hyatt Namba Osaka in 2024, followed by Caption by Hyatt Kabutocho Tokyo in 2025. In addition, Caption by Hyatt brand presence in Tennessee continues to grow with Caption by Hyatt Downtown Nashville/The Gulch, expected to open in 2025, and Caption by Hyatt Chattanooga Downtown, expected to open in 2026.

Through the integration of Dream Hotel Group, 2024 is expected to bring Dream Valle de Guadalupe, the brand’s first property in Mexico, and a new market for Hyatt.

Inclusive Collection Growth

Secrets Resorts & Spas is expected to expand its footprint in Mexico and the Caribbean in 2024 with Secrets Tides Punta Cana, Dominican Republic, a 668-suite seaside haven in Uvero Alto; and Secrets Playa Blanca Costa Mujeres, a 507 all-suite resort 12 miles north of Cancun in Mexico.

Dreams Resorts & Spas is expected to add two new resorts in Mexico in 2024 with the upcoming Dreams Grand Island in Cancun and Dreams Estrella Del Mar Mazatlan, a 350-room property, which also marks a new destination for the brand.

Hyatt Vivid Grand Island, which will be the first property under the recently announced adults-only Hyatt Vivid brand, is expected to open in 2024 adjacent to Dreams Grand Island, combining 19 culinary concepts, a 26,000 square foot spa, multiple pools, a beach club, and more.