Hyatt is dipping its toes into the vacation rental market with the launch of “Homes & Hideaways by World of Hyatt.” It seems like everyone wants a piece of the short-term rental pie these days, and Hyatt is no exception. While I doubt many people are shocked by this move, it’s worth taking a closer look to see if it’s anything to get excited about.
First things first, let’s break down what we know. The platform is set to launch soon, but Hyatt is keeping most of the details under wraps for now. What we do know is that World of Hyatt members will be able to use their points for stays at these vacation rentals and even earn elite nights. As for the specifics of the benefits and redemption rates, we’ll have to wait a bit longer for those details to emerge.
Hyatt’s pitch here is all about flexibility. They want to cater to the diverse needs of their guests, particularly Millenial and Gen Z guests who tend to favor peer-to-peer home rentals over traditional hotels, by offering a range of premium vacation rentals. Initially, the focus will be on leisure destinations in the United States, including popular destinations like Hawaii and Colorado, but there are plans to expand globally down the road.
Amy Weinberg, Hyatt’s SVP of Brand, Loyalty, and Data, talks a big game about this development, saying they’re committed to providing accommodations that go beyond their hotels. She mentions catering to large families and remote workers looking for extended stays. Sounds promising, but we’ll have to see if they can deliver on these promises.
“We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels – from a large family who travels together or guests looking to work from anywhere for an extended period of time. Homes & Hideaways by World of Hyatt brings a unique collection of curated homes which increases Hyatt’s home offerings and expands new ways and new places where we can extend care to members.”Amy Weinberg, SVP of Brand, Loyalty, and Data
Now, let’s put this in perspective. Hyatt isn’t the first hotel group to venture into the vacation rental space. Marriott has its own “Homes & Villas by Marriott” platform, and it’s been around for a while. So, Hyatt is playing catch-up here, and they’re likely hoping to capture a piece of the pie.
But let’s be real for a moment. Don’t expect this to be a game-changer or a haven of luxury. In all likelihood, many of these vacation rentals will just be properties you could find on Airbnb or Vrbo but listed in yet another place. And while earning and redeeming points is a nice touch, don’t expect this to be a groundbreaking deal. Additionally, with many popular locales beginning to adopt ordinances against short term rentals, one has to wonder if Hyatt is launching this platform just as the bubble is bursting on home rentals.
It’s good to see Hyatt trying to adapt to changing travel trends, but we should approach this with a healthy dose of skepticism. We’ll keep an eye on how “Homes & Hideaways by Hyatt” unfolds and whether it can truly compete in the vacation rental market. In the meantime, if you’re looking for a vacation rental, you might want to stick with the tried-and-true options until Hyatt proves itself in this new arena. (h/t One Mile at a Time)