DUBAI: Hyatt recently reported second quarter 2022 financial results, which reflected strength in the company’s Europe, Africa, the Middle East and Southwest Asia (EAME/SWA) segment with the Middle East experiencing a cross-border travel resurgence. The overall strength of recovery in the region is attributed to solid growth in leisure and an increase in business travel demand and large events.
Leisure travel demand has fuelled rooms growth in the Middle East, including the:
- Introduction of luxury and lifestyle brands in the United Arab Emirates (UAE), with the opening of Andaz Dubai The Palm and Hyatt Centric Jumeirah Dubai
- Opening of the second Alila resort in Oman, Alila Hinu Bay, in June 2021
- The debut of the Grand Hyatt brand in the Kingdom of Saudi Arabia with the opening of Grand Hyatt Al Khobar Hotel and Residences
- Anticipated opening of Grand Hyatt Kuwait later this year, marking the first Grand Hyatt hotel in the country; the property has partially opened as of August 2022
- The debut of the luxury and lifestyle Andaz brand in Qatar, with the opening of Andaz Doha, slated for the fourth quarter of 2022
At present, Hyatt’s portfolio in the Middle East currently includes 28 hotels, with an additional seven properties expected to open by the end of 2025. Hyatt anticipates rooms growth of more than 80% in the Kingdom of Saudi Arabia by late 2025, with the expected additions of Park Hyatt Riyadh Diriyah Gate, Grand Hyatt The Red Sea and the highly anticipated debut of Miraval The Red Sea, which will mark the luxury wellness brand’s first resort outside of the U.S., further strengthening Hyatt’s portfolio. This expansion in the Kingdom of Saudi Arabia would be in addition to the current portfolio of six hotels including Hyatt Regency Riyadh-Olaya, Hyatt Place Riyadh Al Sulaimania, and Hyatt House Jeddah Sari Street.
“This ambitious development portfolio showcases our aim to grow our brands with intent as well as our commitment to strategic investments across the Middle East. This market remains a key focus for Hyatt, and one where we continue to observe a growing demand,” said Ludwig Bouldoukian, Regional Vice President Development Middle East & Africa for Hyatt International. “The diversity of Hyatt’s brands, united through the World of Hyatt loyalty program, allows us to showcase unique experiences to a variety of travellers across the region. Whether our guests and members are seeking the classic luxury travel experience, modern lifestyle, or select-service offerings, each of our brands delivers our standard of excellence.”
Uniting Hyatt’s hotel brands is the World of Hyatt guest loyalty program, which was recently ranked the no. 1 Best Hotel Rewards Program by U.S. News & World Report. Travellers can join the program for free and enjoy the benefits of earning points on their stays, dining and spa experiences or meetings and events, and use them toward free nights, room upgrades and much more. Participating hotel brands currently present in the Middle East include Park Hyattä , Grand Hyattä, Alilaä, Andazä, Hyatt Regencyä, Hyatt Centricä, Hyatt Houseä, Hyatt Placeä, and soon to be added to the region, Miravalä.
For information on Hyatt’s existing brand portfolio and the World of Hyatt loyalty program, please visit www.hyatt.com.
To view Hyatt’s second quarter earnings results or listen to the webcast, please visit investors.hyatt.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
