Grupo Piñero and Hyatt Hotels Corporation signed a long-term strategic alliance between subsidiaries of both companies
Bahía Príncipe Hotels & Resorts has experienced rapid expansion since opening the first property in the Dominican Republic 30 years ago. During this time they have maintained the main values as a family business, remaining faithful to their purpose of generating a positive impact on the local communities of the destinations where they operate.
“We appreciate and recognize these same values in Hyatt’s purpose, and we look forward to taking the next step”explained Encarna Piñero, Global General Manager of Grupo Piñero.
He offered these details when announcing that Grupo Piñero and Hyatt Hotels Corporation signed a long-term strategic alliance between subsidiaries of both companies for the management of the Bahía Príncipe Hotels & Resorts brand hotels under the ‘asset-light’ model. The joint management company, 50% owned, will be based in Palma de Mallorca and will own the Bahía Príncipe Hotels & Resorts brand.
The term asset light refers to an expansion or growth strategy that involves little investment as it is based on management or franchise models, and not on ownership.
The long-term strategic alliance is expected to increase Hyatt’s all-inclusive room portfolio by 30%, reinforcing its position as one of the leading global players in the all-inclusive segment.
Following the closing of the operation, 23 resorts, 22 of the Bahía Príncipe Hotels & Resorts brand and its exclusive Cayo Levantado Resort – with more than 12,000 rooms and located in Mexico, the Dominican Republic, Jamaica and Spain – will join the Inclusive Collection of Hyatt.
Grupo Piñero will use most of the resources generated by the operation to renovate the Bahía Príncipe resorts.
