Hyatt Hotels Corporation (NYSE: H) has announced significant growth in its select service portfolio, with a 25% pipeline increase in the Americas over the past three years. As of June 30, 2024, select service brands now represent over half of Hyatt’s total pipeline in the region, highlighting the importance of this segment in driving market expansion and boosting enrollment in the World of Hyatt loyalty program.
Dan Hansen, head of Americas development at Hyatt, emphasized that the company is adapting its product design and operations to reduce construction costs, incorporate technology, and allow for greater customization, all while maintaining high guest satisfaction and improving owner profitability.
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The Caption by Hyatt brand has been refreshed based on feedback from owners and guests. This includes a more flexible market approach, a refined design with softer elements, and an efficient food and beverage model with a fast-casual concept. The brand is expanding globally, with new locations opening in Asia Pacific in 2024 and further U.S. expansions planned for 2025.
The newly introduced Hyatt Studios, an upper midscale extended stay brand, has rapidly grown with over 4,000 rooms in its pipeline within just 18 months. It has attracted both new and existing owners, with properties under construction in markets like Virginia and Texas, and additional locations planned across the U.S.
Hyatt is also enhancing the Hyatt Place and Hyatt House brands, incorporating feedback to update guestrooms and improve operational efficiency. Hyatt House now features upgraded kitchens and living spaces, while Hyatt Place is undergoing a test phase to reduce build costs and enhance efficiency.
Hyatt’s World of Hyatt loyalty program remains a key driver for growth in the select service segment, with recent promotions resulting in a 50% year-over-year increase in direct bookings from members. For more details on Hyatt’s select service brands, visit Hyatt Development.
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