Hyatt on travel’s trendiest buzzword: ‘experiences’
02/27/2020|6:39:41 PM|Fortune

Hyatt announced plans to open 200 more locations in the Americas by 2022, for a total of roughly 775 properties in the region. But the chain is also trying to expand customers' perception of its scope, by getting guests to see it as a company that does more than just provide a place to stay. 

Hyatt and other hotel companies are increasingly offering experiences for guests that stretch beyond dinners in the lobby restaurants. How about, instead, a local culinary history walking tour? Or an espresso-making workshop from an Italian barista? Or, in Hyatt CEO Mark Hoplamazian's case, a bonsai-trimming class from a professional horticulture expert.

In contrast to Airbnb's marketplace, which is open to anyone and covers a wide variety of activities, Hyatt's experiences are offered only to members of the World of Hyatt loyalty program and are centered on health and wellness.

On Wednesday, Hyatt reported better-than-expected earnings in its fourth quarter, but still posted only modest revenue growth in 2019. As a relatively new segment, Experiences could help the company achieve bigger growth going forward.

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