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By Nithyakala Neelakandan
Published on May 8, 2024
Hyatt Hotels Corporation has recently unveiled plans to introduce two new hotels in the vibrant city of Madinah. Through management agreements inked with Knowledge Economic City (KEC), Hyatt is poised to launch Hyatt House Madinah KEC and Hyatt Centric Madinah KEC, with the latter marking the much-anticipated debut of the Hyatt Centric lifestyle brand in the Kingdom.
Javier Águila, group president, Europe, Middle East and Africa, Hyatt, expressed enthusiasm about the collaboration, stating, “We are delighted to collaborate with Knowledge Economic City on plans to bring the Hyatt Centric and Hyatt House brands to the exciting KEC development, enhancing the tourism landscape in Madinah.”
Madinah, as the fourth largest city in Saudi Arabia, holds strategic importance in the country's Vision 2030 and its burgeoning tourism sector. Amin Shaker, Chairman of KEC, emphasized the significance of the partnership, saying, “It is a testament to our shared values of excellence, innovation, and delivering extraordinary guest experiences.”
The KEC development project, boasting a prime location directly connected to Madinah's main roads, signifies a significant milestone in the region's development. Hyatt House Madinah KEC, featuring 446 residential-style rooms, aims to provide travelers with a comfortable “home away from home” experience. Meanwhile, Hyatt Centric Madinah KEC, offering 130 modern rooms and suites, promises to celebrate the character of Madinah through art and design elements.
Mohammad Al Mubarak, Chief Executive Officer of KEC, expressed his pleasure about the collaboration, stating, “It gives me great pleasure to share our collaboration with Hyatt, bringing two new Hyatt branded hotels, Hyatt House Madinah KEC and Hyatt Centric Madinah KEC, to the city.”
The partnership between Hyatt and KEC aligns with the Kingdom's development goals and underscores Hyatt's dedication to expanding its brand footprint in key markets. It also represents a significant step forward in KEC's mission to grow technology and knowledge-driven developments in Madinah, providing unparalleled hospitality to residents and visitors alike.
With these new additions, Hyatt aims to offer more choices to its guests and further contribute to the tourism landscape in Madinah.
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By Nishang Narayan
Published on July 5, 2025
Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.
The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.
As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.
Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.
Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.
Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.
Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.
Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”
The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.
As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.
Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.
Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.
Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”
The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”
Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.
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