Hyatt and Grupo Piñero form joint venture to expand Bahia Principe Hotels

The agreement marks a significant milestone for both companies, boosting Hyatt’s all-inclusive platform and Grupo Piñero’s ability to reach new guests in key markets.

Under this 50/50 asset-light agreement, the joint venture is headquartered in Palma de Mallorca, Spain, and will own the Bahia Principe brand. It includes 22 resorts totaling approximately 12,000 rooms across the Dominican Republic, Mexico, Jamaica, and Spain, as well as the exclusive Cayo Levantado Resort in the Dominican Republic. This collaboration expands Hyatt’s all-inclusive portfolio, offering World of Hyatt members more opportunities to experience all-inclusive travel and enhancing Grupo Piñero’s legacy in the all-inclusive sector.

“The addition of Bahia Principe’s resorts to Hyatt’s Inclusive Collection will enhance Hyatt’s all-inclusive offering and strengthen our leadership position with one of the largest collections of all-inclusive resorts in the world,” “Grupo Piñero’s family business culture, shared values, and expertise in the four- to five-star all-inclusive category coupled with Hyatt’s leadership in luxury all-inclusive creates powerful opportunities across Hyatt’s business – for guests and World of Hyatt members seeking quality all-inclusive experiences across stay occasions, and for hotel owners who can benefit from the network effect of more travelers within the portfolio.” – Mark Hoplamazian, President and Chief Executive Officer, Hyatt.

“For Grupo Piñero, the asset-light long-term strategic joint venture with Hyatt will strengthen Bahia Principe’s legacy and represents a clear path to build on its success and growth strategy for the future,” “Bahia Principe has experienced rapid growth since the opening of our first property in the Dominican Republic nearly 30 years ago. Throughout our journey, we have maintained our core beliefs as a family-owned business, always being faithful to our purpose of seeking to generate a positive social and economic impact for the local communities of the destinations in which we operate. We appreciate and recognize these values in Hyatt’s purpose of care and look forward to the next chapter in Bahia Principe’s bright future.” – Encarna Piñero, Global CEO of Grupo Piñero.

The leadership structure of the joint venture includes Julio Pérez, the current CEO of Bahia Principe, as Chief Executive Officer, and Encarna Piñero, Grupo Piñero’s Global CEO, as Chairman of the Board. Additionally, Izet Mahalbasic, Vice President Hotel Finance for Hyatt, joins as Chief Financial Officer. This team will focus on driving sustainable growth, innovation, and quality improvements within the all-inclusive hospitality space.

“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. Grupo Piñero has built an exceptional family legacy over the past 50 years, and together we look forward to driving sustainable growth and innovation within the all-inclusive space.” – Mark Hoplamazian, President and Chief Executive Officer of Hyatt

Grupo Piñero is committed to continuously improving the Bahia Principe hotels through renovation projects as part of its growth strategy.

“It is a great honor for Grupo Piñero to embark on this long-term alliance with Hyatt—a groundbreaking model for both companies that promises significant benefits and advancements for our respective strategies. We are confident that the combination of our decades of experience as leaders in the all-inclusive sector and Hyatt’s extensive global platform and systems will drive success for our joint venture.” – Encarna Piñero

Building on Hyatt’s history of growth in the all-inclusive market—starting with the creation of Hyatt Ziva and Hyatt Zilara brands in 2013 and the acquisition of Apple Leisure Group in 2021—this joint venture reinforces Hyatt’s leadership position. By the end of 2024, Hyatt’s Inclusive Collection will encompass over 140 properties globally.

“I am excited to lead this strategic joint venture with Hyatt as we work to expand the Bahia Principe Hotels & Resorts brand.” “Together, we will leverage our strengths to offer an unparalleled all-inclusive experience that will attract travelers from around the world. This milestone marks an important step for our company, and I am confident that this collaboration will help us continue raising the quality and service standards of the hospitality industry.” – Julio Pérez, CEO of Bahia Principe

Details regarding when Bahia Principe Hotels & Resorts will participate in the World of Hyatt loyalty program will be shared at a later date.

Hyatt Hotels Corporation