Hyatt and Grupo Piñero Join Forces for Bahia Principe Growth

Hyatt and Grupo Piñero Team up for Bahia Principe

Hyatt Hotels Corporation has announced its plans for a long-term strategic joint venture with affiliates of Grupo Piñero. This asset-light partnership will be based in Palma de Mallorca, Spain, and will manage Bahia Principe-branded hotels and resorts, along with the Bahia Principe brand itself. The joint venture, which is structured as a 50/50 partnership, is expected to expand Hyatt’s all-inclusive room portfolio by approximately 30%. This move will strengthen Hyatt’s position as a leading provider of all-inclusive offerings worldwide.

Grupo Piñero’s strategic venture leverages its success in all-inclusive hospitality, focusing on its solid European customer base. This initiative will open more opportunities for travellers in the Americas and other key markets.

The transaction is anticipated to close in the coming months, subject to customary closing conditions. Following the close, Hyatt plans to appoint Bahia Principe’s current Chief Executive Officer, Julio Pérez, as Chief Executive Officer to lead the management company. Grupo Piñero’s current Global Chief Executive Officer, Encarna Piñero, will serve as Chairman of the Board, with additional officers to be named later.

Upon closing, 23 resorts, totalling over 12,000 rooms, will be added to Hyatt’s Inclusive Collection. This includes 22 properties under the Bahia Principe Hotels & Resorts brand in the Dominican Republic, Mexico, Jamaica, and Spain, and the exclusive Cayo Levantado Resort in the Dominican Republic. Grupo Piñero plans to use the majority of the proceeds from this transaction to enhance the existing Bahia Principe resorts.

“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,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt.

“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 travellers within the portfolio.” 

“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,” said Encarna Piñero, Global CEO of Grupo Piñero.

“Bahia Principe has experienced rapid growth since our first property in the Dominican Republic was opened 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.” 

Grupo Piñero has nearly 50 years of experience, making it a prominent player in international tourism. The company’s culture aligns closely with Hyatt’s values and purpose, reflecting a shared commitment to responsible business practices. Bahia Principe Hotels & Resorts is anticipated to become part of the World of Hyatt loyalty program shortly.