Main Photo: The new food and drink offering at Caption by Hyatt
Date: September 2019
Location: Budapest, Hungary
No. of Keys: TBA
Brand Owner: Hyatt is introducing a new lifestyle brand, Caption, aimed at attracting business travellers through the use of communal meeting spaces and refined food and beverage options inspired by restaurateur Danny Meyer.
Most hotel operators will say that food and beverage can be a money loser for brands, but offering some version of it remains an essential part of the guest experience. Hyatt just stepped up its game, according to Skift.
Hyatt, which is known for its work in the wellness space through its brands like Miraval described Caption’s F&B offerings as a “vibrant mash-up between café, market, and bar.” Meyer and his Union Square Hospitality Group aided Hyatt in generating the design and creation of the F&B program.
A spokesperson for Union Square Hospitality Group said the existing consulting agreement between the two parties is on a limited time basis, and only for F&B programming at Caption. Union Square Hospitality Group is also working with Hyatt on opening its first seafood restaurant in the Thompson Washington D.C., the source said.
“We intend for the Caption by Hyatt brand to be a global growth driver domestically and internationally in dense urban markets, emerging neighbourhoods, and high foot traffic areas,” said Jim Chu, Hyatt’s global head of development, in a statement.
Hyatt emphasizes the communal areas of Caption by Hyatt, though doesn’t talk much about rooms. They do refer to them as “cozy,” and after doing some digging, it appears we can expect some small rooms.
Their brochure to potential investors indicate the hotels will have 150-250 rooms, and they’ll be just 220 to 270 square feet.
The new portfolio addition, Hyatt’s 15th brand overall, is reminiscent of the chain’s existing Hyatt Place offering, in that it is both select service and in the upscale category. Hyatt’s current pipeline consists of 460 hotels, or approximately 92,000 rooms, as of the end of June for all of its brands.
Caption’s debut also follows a company-wide integration effort of Two Roads Hospitality’s portfolio, which the Chicago-based Hyatt purchased in 2018.
The deal was intended to both fill a gap in Hyatt’s under-penetrated foreign markets. Hyatt brands Joie de Vivre, Alila, and the aforementioned Thompson Hotels were brought over in the deal valued at $480 million.
Hyatt additionally later created a new lifestyle division in May, which Caption is likely to join. The announcement followed a plethora of new lifestyle brands announced by competitors Accor, Wyndham, and Hilton in the months prior, as the sector grows in popularity. Frederic Flageat-Simon, the former CEO of Two Roads Hospitality Asia, heads up Hyatt’s lifestyle operations.
THPT Comment: We at THPT can be sceptical at the major chains creating brands, just for the sake of it, but Hyatt bringing in the skills of Danny Meyer is a great move…Good luck Caption by Hyatt.
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