Hyatt CEO Mark Hoplamazian announced a minority investment in Oasis Collection, a curated marketplace that blends the value and authenticity of private homes with the service, quality control and amenities that are not typically found in online home rental offerings.
The move, being termed a significant minority share, should enable Oasis to expand its portfolio to additional cities in the U.S., Europe, Latin America, and Asia. Eventually, Oasis could be integrated into Hyatt’s distribution and loyalty systems.
“Another space, which has relevance for our target customer is private accommodations, essentially longer term stays at luxury and upscale homes and villas,” Hoplamazian said. “This is another fast-growing travel segment, which has the potential to extend the Hyatt brand beyond traditional hotel space and is a fantastic fit with the Hyatt portfolio and our brand positioning.”
Hoplamazian added that Hyatt believes this category has the potential to serve new-stay occasions for its customers and to add meaningfully to growth over time. “We are also evaluating other opportunities, which we believe are complementary to our hotel business, will resonate with our unique customer base, and will add to our growth story, and we look forward to sharing our plans as they come to fruition over time,” he said
Steve Haggerty, global head of capital strategy, franchising and select-service, added in a statement, “Travelers who book Oasis Collections homes are looking for something different than a traditional hotel experience. They’re leisure and often business travelers who seek more space for a longer time, but also want the peace of mind, personalized service and amenities they expect when staying with Hyatt. We look forward to expanding our knowledge about private accommodations from our partners at Oasis Collections and, while we are at an early stage, we believe this category has the potential to serve new stay occasions for our customers and to add meaningfully to Hyatt’s growth over time.”