Dive Brief:

• Hyatt Hotels Corporation will launch short-term vacation rental platform Homes & Hideaways by World of Hyatt, featuring a collection of private home rentals in leisure destinations across the U.S., the hotel company announced Thursday. The properties will be bookable by World of Hyatt loyalty members. 
• The platform, to launch in the coming weeks, will feature properties in Colorado and Hawaii formerly branded under Hyatt's Destination Residences Management business, which was recently acquired by national real estate investment and management company Lowe. Lowe affiliate CoralTree Hospitality Group will assume management of the rental units and homeowners associations across 36 properties acquired in the DRM transaction. 
• The rentals will meet a growing demand by travelers for more flexible, longer-stay accommodations, according to separate statements by Hyatt and Lowe. 

Dive Insight:

The Homes & Hideaways by World of Hyatt portfolio will initially feature rental residences in Vail and Aspen/Snowmass, Colorado, as well as on the Hawaiian islands of Kauai, Hawaii Island and Maui. The portfolio will eventually grow to other “key destination markets,” Hyatt said.   

While the hotel company did not disclose which markets it’s targeting, it said World of Hyatt members will have direct booking access to a collection of private residences, including “beachfront escapes, mountainside ski chalets, expansive villas, country chateaus, cozy cottages, modern townhouses, apartments, flats [and] penthouses” in top leisure destinations. Hyatt also said it plans to expand the platform globally in the future. 

The short-term rental platform is a result of guests seeking more “flexible stay experiences,” Hyatt said. 

“We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels — from a large family who travels together or guests looking to work from anywhere for an extended period of time,” Amy Weinberg, SVP of brand, loyalty and data at Hyatt, said in a statement. 

Lowe said that interest in resort residence rental has “increased dramatically over recent years, fueled by lifestyle changes, the desire for extended stays and the ability to work remotely from anywhere.” 

Vacation rental usage peaked in summer 2023, according to a recent report by Morning Consult, despite increased regulations on alternative accommodations. Travelers, though, still prefer to stay at a hotel chain, the report found, and those looking for longer-stay options have frequently turned to extended stay hotel properties, which offer separate eating, living and sleeping areas with kitchen space. 

World of Hyatt members who choose a Homes & Hideaways vacation rental will be able to earn points and tier-qualifying night credits on their stays as well as redeem their points at properties in the portfolio. 

Hyatt could not be reached for comment.