Hyatt Doubles Down on Mexico, Announces Four New Properties in Pipeline
Hyatt Hotels is doubling down on Mexico with the announcement of four new properties in the pipeline. Collaborating with franchisee Parks Hospitality Holdings, the brand is aiming to leave its mark in the vibrant landscapes of Mexico City, Los Cabos, and Cancun. With the first of these properties set to welcome guests starting in 2024, these developments underscore Hyatt’s commitment to meeting the rising demand for luxury and leisure travel experiences.
Among the upcoming properties, the roster includes two Grand Hyatt hotels, a select-service Hyatt Place location near Cancun International Airport, and the debut of the Park Hyatt brand in Cancun. This strategic move appears to be a conscious effort by Hyatt to cater to the evolving dynamics of travel demand, especially with international demand remaining robust while demand for domestic travel largely evaporating, affecting low-cost carriers like Spirit (Spirit does fly to Mexico, but not Europe).
While Hyatt’s international growth trajectory in recent years has often been marked by acquisitions, such as the recent additions from Apple Leisure Group’s resorts and Lindner Hotels and Resorts, these four properties all appear to be new builds, purpose-built for Hyatt’s portfolio.
Camilo Bolaños, Senior Vice President of Development for Latin America & the Caribbean at Hyatt, emphasized the significance of these expansions, citing the brand’s intentional strategy to fortify its presence in Mexico. He highlighted the pivotal role of collaborative owners like Parks Hospitality Holdings in amplifying Hyatt’s reach and meeting the preferences of their guests, World of Hyatt members, and customers.
Our intentional growth strategy for our portfolio in Mexico is driven by strong relationships with owners like Parks Hospitality Holdings who are helping expand Hyatt’s brand footprint across markets that matter most to our guests, World of Hyatt members and customers. Hyatt occupies a unique position in the marketplace, and we believe we are optimally positioned because of our size, scale and portfolio – we are agile enough to create personal relationships, draw on our own experiences and lead with empathy, which allows us to deliver the world-class hospitality for which Hyatt is known.
Camilo Bolaños, Senior Vice President of Development for Latin America & the Caribbean
Delving into the specifics, the forthcoming Park Hyatt Cancun, set to open its doors in 2025, promises a sophisticated experience, boasting beachfront access and a host of culinary delights amidst Cancun’s breathtaking scenery. Meanwhile, the Grand Hyatt Mexico Santa Fe, slated for a 2025 opening, will offer an urban retreat with panoramic views and ample meeting and event spaces as part of the Distrito Santa Fe project. This will be Hyatt’s first urban Grand Hyatt property in Mexico.
Looking ahead to 2026, the Grand Hyatt Los Cabos will nestle itself within the OLEADA Pacific Living & Golf private resort community, presenting a lavish spread of luxurious amenities, including an 18-hole golf course designed by the renowned Ernie Els.
Furthermore, the Hyatt Place Cancun Airport, also due to open in late 2026, will cater to travelers seeking both leisure and business accommodations, conveniently situated just minutes away from the Cancun International Airport (CUN).
Hyatt really seems to be focused on where the demand is here – Mexico and Europe. Domestic travel within the US is going to be weak for a long time. While Hyatt still has a considerable domestic pipeline, all but three properties are select-service. Two of those three properties are Captions. They’re opening a ton of Hyatt Houses and Hyatt Places, but we really don’t see any full-service growth at all. It really seems that for those who are traveling domestically at all, budget travel is the order of the day.