Hyatt said on Thursday it would shift its strategy in marketing vacation rentals. It plans to launch before year-end a short-term vacation rental platform called Homes & Hideaways by World of Hyatt.
Hyatt also said it intended to sell its vacation rental management business — Destination Residences Management — to a company called Lowe, which, through an affiliate, will run it under Lowe and Coral Tree.
The Homes & Hideaways project will spotlight U.S. vacation rentals managed by Lowe, such as a home by the sea in Hawaii or a ski chalet in Colorado.
To book these vacation rentals, customers have to be one of the 40 million members of the hotelier’s loyalty program.
Hyatt’s CEO elaborated on the company’s broader strategy on Wednesday at the Skift Global Forum (story below).