Hyatt Hotels Corporation announces 2024 growth trajectory

Hyatt Hotels Corporation announced its expected growth trajectory for 2024, underscored by a record year of deal signings in 2023. STAY Magazine interviewed James (Jim) Tierney, SVP of real estate and development at Hyatt Hotels Corporation at WCLC in late 2023. Watch the interview here.

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Hyatt Studios Nighttime Exterior Rendering

Hyatt’s commitment to be the preferred brand for guests, customers and owners has resulted in a record pipeline of 127,000 rooms worldwide as of year-end 2023, which is expected to fuel asset-light earnings into the future. This record pipeline represents nearly 40 per cent of existing rooms in the Hyatt portfolio.

"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,” says Mark Hoplamazian, president and chief executive officer, 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.”

Since going public, Hyatt has experienced remarkable growth; its portfolio of hotels has nearly tripled while its development pipeline has quadrupled. This expansion, driven by organic growth, conversions, and strategic acquisitions funded by real-estate dispositions, has resulted in Hyatt’s premium portfolio of brands serving guests at the high-end of each segment.

This has directly translated into significant growth in the World of Hyatt platform which has quadrupled in membership in the last five years. With more than 30 per cent more members per hotel than its larger hotel competitors, the fastest-growing loyalty program in the industry focuses on more personalized guest care and increased revenue for owners.

Strategic Growth in Luxury, Resort, and Lifestyle Portfolios

Hyatt is uniquely positioned in the industry to be the preferred brand for the high-end guest, driven by significant expansion of luxury, resort and lifestyle hotels. Since the end of 2017, the addition of nearly 90,000 rooms in these categories now represents 45 per cent of Hyatt's total portfolio. This growth has doubled the number of luxury rooms, tripled resort rooms and quadrupled lifestyle rooms. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its diverse collection of luxury brands. Growth highlights in luxury, resort, and lifestyle portfolios include:

  • The Park Hyatt brand is set to enter key global markets in 2024 with 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.

  • The recent launch of the ultra-luxury brand, Impression by Secrets. The Inclusive Collection is also set to expand brand presence in Europe with two new market entries in 2024: Zoetry Halkidiki Resort & Spa in Greece and Dreams Madeira Resort, Spa & Marina in Portugal.

  • The Thompson Hotels brand is gaining significant momentum in Europe, with upcoming brand debuts in highly sought-after destinations such as 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 (Mexico) in 2027.

New Markets and New Developers with Hyatt Studios

Hyatt is also growing its first upper-midscale extended-stay brand in the Americas, Hyatt Studios. Leveraging Hyatt's proven success in select-service hotels, the Hyatt Studios brand extends the renowned Hyatt experience and commitment to quality into markets where traditional Hyatt properties may not be located. Announced just last year, the Hyatt Studios brand has gained significant interest, with approximately 200 deals in various stages of negotiation with both single-unit developers and multi-unit developers, including executed deals representing approximately 2,000 pipeline rooms across North America. This is a testament to the desire from both developers and guests for a Hyatt brand that can operate in secondary, suburban and tertiary markets alike.

Upcoming properties, nearly half of which represent new markets for Hyatt and deals with first-time Hyatt owners, include:

  • Hyatt Studios Foley in Ala., United States

  • Hyatt Studios Huntsville in Ala., United States

  • Hyatt Studios Mobile/Tillman’s Corner in Ala., United States

  • Hyatt Studios Marysville in Calif., United States

  • Hyatt Studios Murrieta in Calif., United States

  • Hyatt Studios Denver Airport 68th & Yampa in Colo., United States

  • Hyatt Studios Bensenville in Ill., United States

  • Hyatt Studios Greenwood in Ind., United States

  • Hyatt Studios Kokomo in Ind., United States

  • Hyatt Studios Louisville in Ky., United States

  • Hyatt Studios Portland ME Airport in Maine, United States

  • Hyatt Studios Flowood in Miss., United States

  • Hyatt Studios Mississauga in Ont., Canada

  • Hyatt Studios Knoxville Cedar Bluff in Tenn., United States

  • Hyatt Studios Sevierville in Tenn., United States

  • Hyatt Studios Texarkana in Texas, United States

Global Expansion: Brand Growth Across All Collections

Independent Collection hotels are all unique – from storied properties and vibrant neighbourhood locales to immersive retreats. Growth updates include:

  • The Unbound Collection by Hyatt brand is growing globally, including Hotel Flüela Davos, which opened in 2023 as the brand’s entry into Switzerland and the only European Hyatt property in an alpine ski destination. Additionally, Kennedy 89 in Frankfurt, Germany is slated for 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 exclusive 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 is a prime opportunity for boutique conversions and continues to extend Hyatt’s brand presence in new markets such as Southampton, N.Y. with the Bentley Hotel slated to open in 2024.

  • The Destination by Hyatt brand is expected to debut in Canada this summer in the year-round outdoor adventure destination of Ramara, Ont., 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 hotels deliver a consistently elevated experience. Expansion of the collection is expected around the following:

  • Fueled by a recent brand refresh, 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 pioneering residential offerings in the country, and the Grand Hyatt Deer Valley, expected to open later this year as the newest luxury hotel in the famed ski destination of 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 (Mexico) is expected in 2026.

  • The Hyatt Place and Hyatt House brands continue to be key organic drivers for Hyatt across the globe. 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, and 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 key United States leisure markets such as Orlando, Fla., Raleigh, N.C., Mariposa, Calif. near Yosemite, Casper, Wyo., Nashville, Tenn. and Daytona Beach, Fla. 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 hotels deliver best-in-class offerings and compelling experiences designed to excite and inspire. New properties in global markets include:

  • The Hyatt Centric brand is expected to expand in Canada with Hyatt Centric Toronto City Centre, Ont. anticipated to open this summer, Hyatt Centric Victoria – Old Town, B.C. slated to open in 2026, and Hyatt Centric Winnipeg Downtown, Man., 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.) In Latin America, the brand will also debut in two countries with Hyatt Centric Escazu San Jose (Costa Rica) and Hyatt Centric Santo Domingo (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, Tenn. 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.

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