Hyatt spent US$465 million to acquire its interest in the Bahia Principe joint venture. - Jamaica Observer

Hyatt Hotels Corporation said it paid US$465 million to acquire a 50 per cent stake in Management Hotelero Piñero, S.L., a joint venture with Grupo Piñero, as part of its expansion into the all-inclusive segment. This was revealed in Hyatt’s 10-K filing (annual report) published last Thursday. Hyatt paid €359 million or US$374 million on December 27 to acquire its interest in the joint venture which owns the Bahia Principe brand and manages the 22 Bahia Principe Hotels & Resorts-branded properties across the Dominican Republic, Spain, Mexico and Jamaica.