CHICAGO (September 8, 2022) – Hyatt Hotels Corporation (NYSE: H) today announced plans to expand Hyatt’s Inclusive Collection – a new global portfolio of distinct luxury all-inclusive resort brands – with five all-inclusive resorts in Bulgaria. Less than one year since the acquisition of Apple Leisure Group, a leading resort brand management platform, Hyatt continues to strengthen its leadership position in the luxury all-inclusive category. The planned expansion further demonstrates the strength and reputation of Hyatt’s all-inclusive brands as they grow in new markets outside of the Americas to attract diverse groups of travelers seeking immersive all-inclusive resort experiences.
Expected to open in 2023 and 2024, the all-inclusive resorts will be managed by Terra Tour Service EOOD and are expected to rebrand to the Secrets Resorts & Spas, Dreams Resorts & Spas, Breathless Resorts & Spas and Alua Hotels & Resorts brands following significant renovations. The planned addition of the five beachfront resorts represents the latest milestone in Hyatt’s intentional global brand expansion and will mark the Inclusive Collection’s entry into a third European country, following existing brand presence in Spain and Greece.
"The planned addition of these new properties adds to the considerable momentum of our brands in European destinations,” said Jaime de la Mata, SVP of Business Development for EAME at ALG. “These five distinct resorts will expand our brands into the largest leisure destination in the Black Sea that has become very popular for travelers from key markets including the United Kingdom, Germany, and the Czech Republic.” For more information, visit www.algdevelopment.com.
Located in Sunny Beach and Obzor along the Bulgarian Black Sea coast, the five all-inclusive resorts will boast a prime location on the Black Sea, bringing the Secrets Resorts & Spas, Dreams Resorts & Spas, Breathless Resorts & Spas and Alua Hotels & Resorts brand experiences to one of Europe’s top beach destinations.
Following renovations, four of the properties are set to open under their new brands in summer 2023, with the fifth resort expected to open in 2024. The properties include:
"We are thrilled to help bring Hyatt’s Inclusive Collection brands to Bulgaria and further position the Black Sea coast as an attractive holiday destination with ever-growing popularity. This also represents an opportunity to present a superior quality of all-inclusive product to the discerning traveler. We are pleased to be working with a knowledgeable and innovative collaborator to support the further development of our properties in the country,” said Lachezar Todorov, CEO of Terra Tour Service EOOD.
“Terra Tour Service and Hyatt have been successfully collaborating since the opening of Hyatt Regency Sofia in 2020. We are pleased to work with them on the conversion of these five distinct Black Sea properties and bring the Inclusive Collection to guests, World of Hyatt members and customers,” said Takuya Aoyama, Vice President of Development, EAME, Hyatt. “We are confident that this new chapter of our relationship will help to further strengthen Bulgaria’s position as a quality holiday destination.”
World of Hyatt members can now enjoy program benefits, including earning and redeeming points, at must-visit Inclusive Collection resorts in destinations like Mexico, Costa Rica, Colombia, and the Caribbean. Inclusive Collection resorts in Europe are expected to begin participating in the World of Hyatt by year end.
To learn more about the all-inclusive brands joining World of Hyatt, and how guests and members can start earning and redeeming points at participating resorts in these all-inclusive brands, visit hyatt.com/newbrands.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. The term “ALG” is used in this release for convenience to refer to Apple Leisure Group and/or one or more of its subsidiaries, which collectively provide sales, marketing and brand management services to resort and hotel brands; hotel & resort membership program; leisure travel and destination management services; and technology solutions to travel agents and suppliers.
About Terra Tour Service EOOD
Terra Tour Service was established in 1992 in Bulgaria. With eight hotels and resorts, ranging from three to five stars and more than 2 500 units, operated under internationally renowned hotel brands, the company is one of the largest in this sector on the Bulgarian market. The company also owns and operates an 18-hole 72 par golf course and several hunting preserves throughout the country. To learn more about Terra Tour Service EOOD, visit www.tts.bg.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2022, the Company’s portfolio included more than 1,150 hotels and all-inclusive properties in 72 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Hyatt Centric®, and Caption by Hyatt; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt™, and JdV by Hyatt™; and the Inclusive Collection, including Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Vivid Hotels & Resorts®, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. These statements include statements about Hyatt’s pipeline and future hotel openings, expected leisure demand, and planned growth in the Middle East, and involve known and unknown risks that are difficult to predict. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, risks associated with the acquisition of Apple Leisure Group ("ALG"), including the related incurrence of material additional indebtedness; our ability to realize the anticipated benefits of the acquisition of ALG as rapidly or to the extent anticipated, including successful integration of the ALG business; the duration and severity of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and long-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution and efficacy of COVID-19 vaccines and treatments, wide acceptance by the general population of such vaccines, and the availability, use, and effectiveness of COVID-19 testing, including at-home testing kits; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
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Apple Leisure Group