Skift Take
For Hyatt, which has been aggressively expanding in this segment, the joint venture will boost its all-inclusive room count by about 30%.
Hyatt Hotels is joining forces with Spanish tourism group Grupo Piñero in a 50-50 joint venture that will add 23 resorts to Hyatt's all-inclusive portfolio, the companies said Monday.
The deal is expected to close in the coming months, subject to the usual conditions. No financial terms were disclosed.
At a later date, Hyatt will begin managing Grupo Piñero's Bahia Principe Hotels & Resorts brand, whose core assets span prime territory for U.S. vacationers seeking warm-weather getaways