Done deal! Hyatt finalises Bahia Principe takeover

Hyatt Hotels Corporation has finalised a strategic partnership with Grupo Piñero to jointly manage Bahia Principe Hotels & Resorts-branded properties while also acquiring ownership of the Bahia Principe brand.

The 50/50 joint venture significantly bolsters Hyatt’s presence in the all-inclusive travel market in the region.

The agreement adds 22 resorts, totalling approximately 12,000 rooms, to Hyatt’s Inclusive Collection. These include 21 Bahia Principe properties located in key destinations such as the Dominican Republic, Mexico, Jamaica, and Spain, as well as the exclusive Cayo Levantado Resort in the Dominican Republic.

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Grupo Piñero, which owns the resorts under the joint venture, has committed to ongoing renovation projects to enhance the Bahia Principe brand.

"Building on Grupo Piñero’s all-inclusive expertise and thriving European customer base, Hyatt will further contribute to the company’s success and provide expanded opportunities for growth with travellers in the Americas and other key markets,” the company said.

Leadership for the joint venture includes Bahia Principe CEO Julio Pérez at the helm, with Grupo Piñero’s Global CEO Encarna Piñero serving as Chairman of the Board. Izet Mahalbasic, Hyatt’s Vice President of Hotel Finance, will join as Chief Financial Officer.

“This joint venture with Grupo Piñero enhances Hyatt’s all-inclusive platform across multiple dimensions: more rooms, an expanded portfolio, and more offerings for guests and World of Hyatt members,” said Mark Hoplamazian, President and CEO of Hyatt.

Encarna Piñero praised the partnership as a “groundbreaking model” that leverages the combined expertise of Grupo Piñero’s leadership in the Caribbean’s all-inclusive sector and Hyatt’s extensive global systems and platforms. She expressed confidence in the venture’s potential to deliver significant benefits for both companies’ long-term strategies.

This transaction builds on Hyatt’s growth journey in all-inclusive, which started with the creation of the Hyatt Ziva and Hyatt Zilara brands in 2013 and combined with the largest acquisition in Hyatt’s history with Apple Leisure Group in 2021, expanded to more than 140 properties globally across 10 brands in Hyatt’s Inclusive Collection by the end of 2024.