Andaz Costa Rica Resort at Peninsula Papagayo | Source: TripAdvisor

The Future of Travel: Hyatt Doubles Global Resort Portfolio in A$3.7 Billion Deal

The future of travel is looking increasingly luxurious after Hyatt announced on Sunday it would be acquiring luxury resorts operator Apple Leisure Group (ALG) for approximately A$3.7 billion.

On the back of this deal, Hyatt is set to double its global resort portfolio and become the largest operator of luxury hotels in Mexico and the Caribbean.

Combining Hyatt’s deep expertise and global brand footprint with ALG’s strong resort brands, operating capabilities and robust development plans will elevate our differentiated position and create a leader in luxury leisure travel.

Alejandro Reynal, chief executive officer of ALG

According to the Financial Times, Hyatt’s chief executive Mark Hoplamazian said leisure travel is going to be enduring in terms of demand and that the all-inclusive approach is looking very attractive to a lot of customers.

The acquisition brings resort brands like Zoëtry under the overarching Hyatt umbrella while also extending Hyatt’s brand footprint into 11 new markets in Europe, including Spain and Greece. It follows InterContinental Hotel Group’s announcement that it will be launching a luxury resort brand in the near future.

So, while overseas travel may not be on the cards just yet, there is hope still for globe trotters.

Predicted post-pandemic travel trends

According to travel industry experts, our overseas travel behaviours are inevitably set to change once international travel returns. For one, leisure travel is expected to surpass business travel in the future. But one key travel trend that hotel companies are signalling through moves to acquire resorts and spas and launch luxury hotel lines is the predicted rise in health and wellness tourism.

Think resort spas, digital detox retreats, luxury wellness treatments, spiritual tourism and all travel activities within the realm of the ever-popular concept of ‘self-care. After spending much of our time in lockdown, future travellers are likely seeking relaxation and rejuvenation. And with affluent families usually increasing more profits over the course of the pandemic, increased spending on luxury leisure travel is also predicted.

Staycations to stay

With COVID postponing overseas travel, for the time being, many have turned to regional travel to satisfy their travel itch. So, although a trip to a far-flung tropical island isn’t possible just yet, staycations can allow you to explore your own backyard. And if you’re just after some R&R, the rise and continuing expansion of international luxury hotel chains conveniently guarantees a luxury hotel or resort near you.

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