Hyatt Hotels & Resorts aims to concentrate on the lifestyle and luxury products, according to CEO Mark Hoplamazian, speaking on a fourth-quarter earnings call. “Our strategy is to focus on the high-end customer and to serve and operate at the high end of every segment that we're in right now,” he said. “We continue to focus on filling out our portfolio to be able to add the number of experiences and the critical mass that we have to that high-end traveler.”

That focus was reflected in the company’s rate increases in the quarter. Average daily rates (ADR) across Hyatt’s entire global portfolio jumped 24.5% from the previous year. Hyatt’s average room rates, excluding those in China, ended the year 14% above 2019 levels.

While saying he would never say never about moving into other segments, Hoplamazian added that focusing on high-end travelers “has been our very deliberate strategy over the last five years, of which I feel like we've made tremendous progress.”

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“We now have more luxury branded hotels and resort locations than any other hospitality company in the world,” Hoplamazian said.

Image: Grand Hyatt Hong Kong/Courtesy of Hyatt