Hyatt Hotels Corporation announced the completion of the agreement for affiliates of Hyatt and Grupo Piñero to enter into a long-term, light-weight joint strategic venture, based in Palma de Mallorca, Spain, that will manage Bahía Príncipe Hotels & Resorts branded properties and will own the Bahía Príncipe brand.
The 50/50 joint venture augments Hyatt’s all-inclusive portfolio.
The agreement brings 22 resorts to the Hyatt Inclusive Collection, totaling approximately 12,000 rooms, including 21 resorts under the Bahía Príncipe Hotels & Resorts brand located in the Dominican Republic, Mexico, Jamaica and Spain, as well as the exclusive Cayo Levantado Resort in the Dominican Republic. Grupo Piñero is the owner of the resorts managed by the company.
