Hyatt Hotels Corporation recently announced its ambitious plan to expand into 13 new markets in Europe, Africa, and the Middle East (EAME) by 2028, capitalizing on a successful year in the region. Fueled by significant growth in crucial metrics, Hyatt saw a 12.1% increase in Revenue per Available Room (RevPAR), a 5.8% rise in Average Daily Rate (ADR), and a 3.8% improvement in occupancy rates. A notable 14% boost in Net Package RevPAR within the resort segment came largely from growth in Spain, Greece, Portugal, and Bulgaria. This strong performance underscores Hyatt’s drive to establish a broader presence in currently untapped markets.
Focusing on New Markets
Hyatt’s expansion strategy is not just limited to one or two new locations but spans a range of diverse markets including Estonia, Iceland, Romania, Cape Verde, and Mauritius. The introduction of luxury and lifestyle properties such as Park Hyatt Johannesburg, Miraval The Red Sea, Andaz Doha, and Andaz Lisbon is part of this ambitious plan. By 2026, Hyatt aims to add 50 new hotels globally, reflecting its substantial commitment to growth in the EAME region. As of September 2024, Hyatt’s portfolio in these areas boasts over 200 properties and more than 45,000 rooms across 40 different countries. Notably, the hotel room count in Europe alone has tripled since 2017, indicating a robust growth trajectory.
Spain emerges as a particularly significant focus market for Hyatt, with its portfolio growing from four hotels in 2020 to an impressive 55 hotels by December 2024. This dramatic expansion, involving over 14,500 rooms, is driven by strategic acquisitions including Apple Leisure Group in 2021 and Standard International in 2024. Additionally, a joint venture with Grupo Piñero has further bolstered Hyatt’s position in Spain, highlighted by the upcoming Thompson Sevilla set to open by 2026. Spain remains a top destination for international tourists, drawing 85.2 million visitors and generating $92 billion in revenue in 2023, making it an ideal market for Hyatt’s extensive growth plans.
Leveraging Strategic Partnerships
Hyatt Hotels Corporation recently unveiled its bold strategy to expand into 13 new markets across Europe, Africa, and the Middle East (EAME) by 2028. This initiative follows a highly successful year in the region, marked by substantial growth in key performance indicators. Hyatt reported a notable 12.1% increase in Revenue per Available Room (RevPAR), a 5.8% rise in the Average Daily Rate (ADR), and a 3.8% improvement in occupancy rates. Particularly impressive was a 14% boost in Net Package RevPAR within the resort segment, driven primarily by significant gains in Spain, Greece, Portugal, and Bulgaria. This exceptional performance reflects Hyatt’s determination to extend its footprint into previously untapped markets, solidifying its presence and capitalizing on its upward momentum. With these ambitious expansion plans, Hyatt aims to further strengthen its global brand and provide an enhanced experience for its guests across the region.
