Hyatt Is Getting into the Vacation Rental Business
Hyatt is getting into the short-term vacation rental business, the company announced this week.
Hyatt Hotels is planning a new short-term vacation rental platform called Homes & Hideaways by World of Hyatt, which will include private homes and remote hideaways.
While that will initially only include the United States, the Caribbean territories of Puerto Rico and the US Virgin Islands would likely be part of the portfolio.
“We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels – from a large family who travels together or guests looking to work from anywhere for an extended period of time,” said Amy Weinberg, senior vice president, brand, loyalty & data, Hyatt. “Homes & Hideaways by World of Hyatt brings a unique collection of curated homes which increases Hyatt’s home offerings and expands new ways and new places where we can extend care to members.”
The move would make Hyatt a direct competitor to home-sharing giants like Airbnb.
Hyatt says it has identified a company called Lowe, that, through an affiliate, will purchase and operate the rental management business called Destination Residences Management.
The company said the focus would be on “unlock access to residential rental accommodations across the United States in key travel destinations,” with plans to grow the platform globally.
Notably,World of Hyatt members will be able to earn points and qualifying night credits on stays with Homes & Hideaways. They will also have the ability to redeem points for stays at home rental properties.