Hyatt Hotels Corporation has completed an agreement with Grupo Piñero, headquartered in Palma de Mallorca, Spain, to manage Bahia Principe Hotels & Resorts-branded properties and own the Bahia Principe brand.

This 50/50 joint venture will deepen Hyatt’s footprint in the all-inclusive hospitality market and allow World of Hyatt guests and members to access additional tourism destinations. Bahia Principe owns properties in the Dominican Republic, Jamaica, Mexico, and Spain.

As such, the agreement will add 22 resorts with approximately 12,000 rooms to Hyatt’s Inclusive Collection, including the exclusive Cayo Levantado Resort in the Dominican Republic.

Grupo Piñero, known for its all-inclusive expertise and thriving European customer base, will remain the owner of the resorts managed by the joint venture and, according to a release, “is committed to driving the continuous improvement of Bahia Principe hotels through renovation projects as part of its ongoing goals and this transaction”. However, the company acknowledges that the deal with Hyatt can contribute to the further success of the Bahia Principe brand through expanded opportunities for growth among travellers in the Americas and other key markets.

“It is a great honour 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,” said Grupo Piñero Global Chief Executive Officer Encarna Piñero.

“We are confident that the combination of our decades of experience as leaders in the all-inclusive sector in the Caribbean and Hyatt’s extensive global all-inclusive platform,” said Piñero.

Piñero will be serving as chairman of the board of the joint venture while Bahia Principe’s Chief Executive Officer Julio Pérez assumes leadership of the joint venture. Hyatt Vice President Hotel Finance Izet Mahalbasic will be the joint venture’s chief financial officer.

“I am excited to lead this strategic joint venture with Hyatt as we work to expand the Bahia Principe Hotels & Resorts brand,” shared Pérez.

“Together, we will leverage our strengths to offer an unparalleled all-inclusive experience that will attract travellers from around the world. This milestone marks an important step for our company, and I am confident that this collaboration will help us to continue raising the quality and service standards of the hospitality industry,” Pérez said.

For Hyatt, this transaction builds on its journey into the all-inclusive space with the creation of the Hyatt Ziva and Hyatt Zilara brands in 2013. Later, Hyatt’s acquisition of the Apple Leisure Group in 2021 expanded its portfolio to more than 140 properties globally across 10 brands in Hyatt’s Inclusive Collection by the end of 2024.

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

“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,” he continued.