The new offering to provide members access to a
unique collection of short-term private home rentals giving even
more meaningful ways for World of Hyatt members to unlock flexible
travel experiences
Hyatt Hotels Corporation (NYSE: H) today announced plans for a
new short-term vacation rental platform, Homes & Hideaways by
World of Hyatt, that will feature private homes and remote
hideaways in the United States. When the offering launches, which
is expected in the coming weeks, World of Hyatt members will have
direct booking access to a unique collection of short-term private
home rentals from beachfront escapes to mountainside ski chalets,
where they can earn and redeem points beyond the traditional hotel
stay.
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Wild Dunes Residences (Photo: Business
Wire)
The planned launch of Homes & Hideaways by World of Hyatt
reinforces Hyatt’s commitment to providing more flexible stay
experiences to suit the travel needs of every guest. The focus on
the premium vacation rentals segment will allow members to unlock
access to residential rental accommodations across the United
States in key travel destinations like Hawaii, Colorado, and more,
with plans to grow the platform globally.
“We are committed to evolving access to the type of
accommodations World of Hyatt members are seeking that go beyond
our hotels – from a large family who travels together or guests
looking to work from anywhere for an extended period of time,” said
Amy Weinberg, senior vice president, brand, loyalty & data,
Hyatt. “This unique collection of curated homes will not only
increase Hyatt’s home offerings but also showcase a solid
trajectory of key market growth where our guests are traveling most
and expanded opportunities to care for members in new ways and new
places.”
Leading up to the launch of Homes & Hideaways by World of
Hyatt, Hyatt has identified a highly qualified company, Lowe, that,
through an affiliate, will purchase and operate the existing
vacation rental management business that is currently branded
Destination Residences Management.
In the near future, the Homes & Hideaways by World of Hyatt
platform is expected to feature key existing DRM properties in top
U.S. leisure destinations as part of offering members direct
booking access to a collection of private homes featuring
beachfront escapes, mountainside ski chalets, expansive villas,
country chateaus, cozy cottages, modern townhouses, apartments,
flats, penthouses and much more. While every property will be
unique, each is professionally managed by thoroughly vetted
property management companies to enjoy a quality experience.
In the coming weeks, World of Hyatt members can benefit when
they book their remote hideaway or hidden urban gem on the Homes
& Hideaways by World of Hyatt platform. Homes & Hideaways
by World of Hyatt member benefits will include earning points and
tier-qualifying night credits on stays, as well as standard tier
bonuses, and the ability to redeem points for stays at home rental
properties. More locations, more experiences and more opportunities
to earn and redeem.
To learn more about Homes & Hideaways by World of Hyatt and
the destinations available across the United States, stay tuned to
Hyatt.com for more information coming soon.
In connection with the sale, of the Destination Residences
Management business, PJT Partners LP served as financial advisor to
Hyatt and Latham & Watkins LLP acted as its legal advisor.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Hotels
Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of June 30, 2023, the
Company’s portfolio included more than 1,250 hotels and
all-inclusive properties in 76 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Residence Club®, Hyatt
Place®, Hyatt House®, Hyatt Studios, and
UrCove; the Boundless Collection, including Miraval®,
Alila®obally, Andaz®, Thompson Hotels®,
Dream® Hotels, Hyatt Centric®, and Caption by
Hyatt®; the Independent Collection, including The Unbound
Collection by Hyatt®, Destination by Hyatt®, and JdV
by Hyatt®; and the Inclusive Collection, including
Impression by Secrets, Hyatt Ziva®, Hyatt
Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets®
Resorts & Spas, Breathless Resorts & Spas®,
Dreams® Resorts & Spas, Hyatt Vivid Hotels &
Resorts, Alua Hotels & Resorts®, and Sunscape®
Resorts & Spas. Subsidiaries of the Company operate the
World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs
Smith™, Unlimited Vacation Club®, Amstar DMC destination management
services, and Trisept Solutions® technology services. For more
information, please visit www.hyatt.com.
About World of Hyatt
World of Hyatt is Hyatt’s award-winning guest loyalty program
uniting participating locations in Hyatt’s Timeless Collection,
including in the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®,
Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, and UrCove
brands; Boundless Collection, including in the Miraval®, Alila®,
Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and
Caption by Hyatt® brands; Independent Collection, including in The
Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by
Hyatt® brands; and Inclusive Collection, including in the
Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness
& Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts
& Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels &
Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts &
Spas brands. Members who book directly through Hyatt channels can
enjoy personalized care and access to distinct benefits including
Guest of Honor, confirmed suite upgrades at time of booking,
diverse wellbeing offerings, digital key, and exclusive member
rates. With more than 40 million members, World of Hyatt offers a
variety of ways to earn and redeem points for hotel stays, dining
and spa services, wellbeing focused experiences through the FIND
platform; as well as the benefits of Hyatt’s strategic loyalty
collaborations with American Airlines AAdvantage®, Small Luxury
Hotels of the World™ and Lindblad Expeditions. Travelers can enroll
for free at hyatt.com, download the World of Hyatt app for android
and IOS devices and connect with World of Hyatt on Facebook,
Instagram. TikTok and Twitter.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Our actual
results, performance or achievements may differ materially from
those expressed or implied by these forward-looking statements. In
some cases, you can identify forward-looking statements by the use
of words such as “may,” “could,” “expect,” “intend,” “plan,”
“seek,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “likely,” “will,” “would” and variations
of these terms and similar expressions, or the negative of these
terms or similar expressions. Such forward-looking statements are
necessarily based upon estimates and assumptions that, while
considered reasonable by us and our management, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, general economic uncertainty in key global markets and a
worsening of global economic conditions or low levels of economic
growth; the rate and the pace of economic recovery following
economic downturns; global supply chain constraints and
interruptions, rising costs of construction-related labor and
materials, and increases in costs due to inflation or other factors
that may not be fully offset by increases in revenues in our
business; risks affecting the luxury, resort, and all-inclusive
lodging segments; levels of spending in business, leisure, and
group segments, as well as consumer confidence; declines in
occupancy and average daily rate; limited visibility with respect
to future bookings; loss of key personnel; domestic and
international political and geo-political conditions, including
political or civil unrest or changes in trade policy; hostilities,
or fear of hostilities, including future terrorist attacks, that
affect travel; travel-related accidents; natural or man-made
disasters, weather and climate-related events, such as earthquakes,
tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil
spills, nuclear incidents, and global outbreaks of pandemics or
contagious diseases, or fear of such outbreaks; the pace and
consistency of recovery following the COVID-19 pandemic and the
long-term effects of the pandemic, additional resurgence, or
COVID-19 variants, including with respect to global and regional
economic activity, travel limitations or bans, the demand for
travel, transient and group business, and levels of consumer
confidence; the ability of third-party owners, franchisees, or
hospitality venture partners to successfully navigate the impacts
of the COVID-19 pandemic, any additional resurgence, or COVID-19
variants or other pandemics, epidemics or other health crises; our
ability to successfully achieve certain levels of operating profits
at hotels that have performance tests or guarantees in favor of our
third-party owners; the impact of hotel renovations and
redevelopments; risks associated with our capital allocation plans,
share repurchase program, and dividend payments, including a
reduction in, or elimination or suspension of, repurchase activity
or dividend payments; the seasonal and cyclical nature of the real
estate and hospitality businesses; changes in distribution
arrangements, such as through internet travel intermediaries;
changes in the tastes and preferences of our customers;
relationships with colleagues and labor unions and changes in labor
laws; the financial condition of, and our relationships with,
third-party property owners, franchisees, and hospitality venture
partners; the possible inability of third-party owners,
franchisees, or development partners to access the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations, including with respect to
our acquisition of Apple Leisure Group and Dream Hotel Group and
the successful integration of each business; failure to
successfully complete proposed transactions (including the failure
to satisfy closing conditions or obtain required approvals); our
ability to successfully execute on our strategy to expand our
management and franchising business while at the same time reducing
our real estate asset base within targeted timeframes and at
expected values; declines in the value of our real estate assets;
unforeseen terminations of our management or franchise agreements;
changes in federal, state, local, or foreign tax law; increases in
interest rates, wages, and other operating costs; foreign exchange
rate fluctuations or currency restructurings; risks associated with
the introduction of new brand concepts, including lack of
acceptance of new brands or innovation; general volatility of the
capital markets and our ability to access such markets; changes in
the competitive environment in our industry, including as a result
of the COVID-19 pandemic, industry consolidation, and the markets
where we operate; our ability to successfully grow the World of
Hyatt loyalty program and Unlimited Vacation Club paid membership
program; cyber incidents and information technology failures;
outcomes of legal or administrative proceedings; and violations of
regulations or laws related to our franchising business and
licensing businesses and our international operations;; and other
risks discussed in the Company’s filings with the U.S. Securities
and Exchange Commission (“SEC”), including our annual report on
Form 10-K and our Quarterly Reports on Form 10-Q, which filings are
available from the SEC. These factors are not necessarily all of
the important factors that could cause our actual results,
performance or achievements to differ materially from those
expressed in or implied by any of our forward-looking statements.
We caution you not to place undue reliance on any forward-looking
statements, which are made only as of the date of this press
release. We undertake no obligation to update publicly any of these
forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230928758313/en/
Hyatt Media Contact: Nina Alexander-Hurst
Nina.Alexander-Hurst@hyatt.com
Hyatt Investor Contact: Adam Rohman
Adam.rohman@hyatt.com
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