Hyatt and Grupo Piñero form 50/50 JV for Bahia Principe resorts; Hyatt invests €359M

Hyatt Hotels Corp

Hyatt investing €359M at closing for 50% of JV, plus €60M contingent on conditions; additional contingent consideration for future hotels.
23 resorts (over 12,000 rooms) added to Hyatt's Inclusive Collection, expanding all-inclusive portfolio by ~30%.
JV to be led by current Bahia Principe CEO Julio Pérez as CEO; Encarna Piñero as Chairman.
Expected management fees of €55-60M by 2028, plus additional revenue from Hyatt platforms.
Majority of proceeds from the deal will fund renovations of existing Bahia Principe resorts; transaction expected to close in coming months.

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