HOLLYWOOD, Florida — The Caribbean and Latin American region has been an area of strong interest for Hyatt Hotels Corp. for years, and recent leisure demand trends are supporting the company’s investment.
Hyatt realigned its development strategy in 2009 and 2010 to trigger development and growth in key markets to show its commitment to the region, said Camilo Bolanos, vice president of development and real estate in Latin America and the Caribbean, during an interview at the Hotel Opportunities Latin America conference.
Hyatt invested in major projects in Mexico and Brazil, forming several joint ventures to be co-owners and operators of key hotels, he said. The company expanded its all-exclusive portfolio in the region from about a dozen hotels to 60 properties, excluding its acquisition of Apple Leisure Group.
The acquisition of Apple Leisure Group’s brands offered Hyatt more opportunity to grow rapidly, Bolanos said. That growth will have the full engines of both the marketing…