Hyatt Hotels and Grupo Piñero Joint Venture Adds 12,000 rooms to Hyatt Portfolio

Hyatt Hotels Corporation and Grupo Piñero have revealed plans to establish a strategic joint venture to manage and own the Bahia Principe brand. Based in Palma de Mallorca, Spain, this long-term collaboration is expected to increase Hyatt’s all-inclusive room portfolio by around 30%.

The joint venture will benefit Grupo Piñero by leveraging its success in the all-inclusive hospitality sector with a strong European customer base. It is also expected to create broader opportunities in the Americas and other key markets.

The deal, which is expected to close in the upcoming months subject to standard closing conditions, will position Bahia Principe’s current CEO, Julio Pérez, as the CEO of the management company. Encarna Piñero, Grupo Piñero’s current Global CEO, will serve as Chairman of the Board. Additional officers will be announced later.

Upon completion of the deal, 23 resorts with over 12,000 rooms, including 22 Bahia Principe Hotels & Resorts properties 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. Grupo Piñero will use the majority of the proceeds from this transaction to enhance existing Bahia Principe resorts.

Mark Hoplamazian, Hyatt’s CEO, said that adding Bahia Principe’s resorts to Hyatt’s Inclusive Collection will enhance their all-inclusive offerings. Encarna Piñero, Global CEO of Grupo Piñero, noted that the joint venture would strengthen Bahia Principe’s legacy, ensuring its future success and growth strategy.

Bahia Principe Hotels & Resorts is expected to join Hyatt’s loyalty program, World of Hyatt, at a future date.