Hyatt Hotels has invested in Oasis Collections, a curated alternative-lodging platform that offers upscale homes and villas with on-site personnel support. Hyatt CEO Mark Hoplamazian, left, disclosed the strategic minority investment in the company's second-quarter earnings call on Thursday.
"We look forward to expanding our knowledge about this segment from our partners at Oasis," said Hoplamazian. Such knowledge would build on that which Hyatt acquired from its previous $40 million investment in Onefinestay, which it had to sell off a year later when that company was acquired by AccorHotels. At the time, Hoplamazian wished Onefinestay well and thanked the company for the learning experience.
Accor, incidentally, sold off its investment in Oasis Collections last month, before setting up an alternative-lodging division that combines Onefinestay, Travel Keys and Squarebreak --all of which were acquired by Accor over the past year. Hyatt's new investment in Oasis signals the company's desire to further explore potential roles in that sector.
"Even though we are at an early stage," Hoplamazian noted in the call, "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. 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."
Hoplamazian didn't reveal a specific timeline for integrating Oasis Collections into the World of Hyatt loyalty program, but he indicated there would be some kind of connection. "We do intend over time to create a channel through which the World of Hyatt members can have alternative offerings in the style and manner of what Oasis does in their existing portfolio," he said.
Hoplamazian characterized the Oasis investment as akin to the company's acquisition of Miraval Resorts, in that it helps Hyatt expand on the relationship the company has with its guests. As for additional purchases, Hoplamazian doesn't think Hyatt needs to make them - but he hints that they may well occur.
"We're demonstrating that our model is working," Hoplamazian said during the Q&A portion of the call. "Our focus on the high-end customer is working, and how we go to market is working. I don't see [additional acquisitions] as a necessity; however, we have in the past been active in looking at brands. We've acquired some brands historically, and we would be very open to that."