Hyatt has announced that it is introducing a short-term vacation rental platform called Home & Hideaways by World of Hyatt. This new initiative will offer members the opportunity to earn and redeem World of Hyatt points on vacation rentals made through the platform.
Once launched, Homes & Hideways will compete with Homes & Villas by Marriott Bonvoy, as well as platforms that solely offer short-term rentals, such as Airbnb and VRBO.
Hyatt Launches Homes & Hideaways by World of Hyatt
Hyatt has announced the upcoming launch of a new short-term vacation rental platform called Homes & Hideaways by World of Hyatt, which is slated to go live in the coming weeks.
Upon its launch, Homes & Hideways will be comprised of existing properties already being managed by Hyatt under its Destination Residences Management division. However, as part of the announcement, Hyatt has identified that a separate company, Lowe, will be responsible for purchasing and operating the existing rental management business.
Tying these together, Hyatt is shifting its business strategy by divesting from short-term property management, and instead focusing on distribution and marketing through the Homes & Hideaways by World of Hyatt platform.
In the near future, the Homes & Hideaways platform will offer World of Hyatt members access to thousands of properties across the United States, including beachfront accommodations in Hawaii and Florida, as well as mountain chalets in Colorado.
Crucially, professional companies manage all of the properties, rather than individual hosts – setting them apart from many properties listed on Airbnb and VRBO.
When the platform launches in the coming weeks, World of Hyatt members will be able to earn and redeem points for stays, and will also accrue tier-qualifying nights for earning elite status.
Another Hotel Chain Enters the Short-Term Rental Space
Hyatt’s upcoming launch of Homes & Hideaways follows in the footsteps of Marriott, which launched Homes & Villas by Marriott Bonvoy in 2019. The platform has since grown to offer 115,000 listings, and has recently added properties in Australia, New Zealand, India, and South Korea.
While Homes & Hideaways by World of Hyatt will begin exclusively in the United States, Hyatt’s press release indicates that it plans to eventually go global with its offerings.
As opposed to other short-term rental options like Airbnb or VRBO, the properties offered through major brand platforms are all professionally managed, which gives travellers some assurance and standards that may not otherwise be offered.
Furthermore, Airbnb and VRBO aren’t attached to a loyalty program that offers guests the ability to earn and redeem points for stays, as well as accrue nights towards elite status.
It’s worth noting that Homes & Hideaways by World of Hyatt won’t fall into the standard or all-inclusive award charts for earning and redeeming points, as with other stays booked through World of Hyatt.
Rather, Homes & Hideaways by World of Hyatt properties will require varying levels of points to redeem for a stay, which may exceed the amount needed for a traditional hotel room.
Until we can get a sense of what the earning and redemption rates will be, it’s difficult to comment on the value offered through the program. However, once it goes live, we’ll be sure to have a good look.
Conclusion
Hyatt has announced the upcoming launch of Homes & Hideaways by World of Hyatt, which the company plans to implement in the coming weeks. The new platform will list short-term vacation rentals that are managed by professional companies, rather than by individuals, like most listings on Airbnb and VRBO.
During its initial phase, the platform will solely consist of properties in the US, especially in Colorado, Florida, and Hawaii. Hyatt intends to go global with the brand in the future.
World of Hyatt members will be able to earn and redeem points, as well as receive tier-qualifying nights and tier-based point bonuses, as if they were staying at any other Hyatt-branded property. However, at this stage, the exact mechanics have yet to be released.
