Less than a year ago Hyatt announced a partnership with Oasis home rentals. They quickly integrated that partnership into the loyalty program in a meaningful way. World of Hyatt members could earn points for Oasis stays and redeem them for luxury apartments/homes in key markets around the world.
Alas, Hyatt reached out to me this morning to say that, effective immediately, this partnership is ending.
Hyatt is working to reach out to all members who have current bookings at an Oasis property. At this point, all current award bookings made before today will be honored. And, World of Hyatt will still award points on any existing bookings at an Oasis property.
It was just this past March when Hyatt announced the World of Hyatt integration, where members could earn and redeem at Oasis properties. That was a big step forward, and one that I’m sure wasn’t cheap from a technology standpoint. There’s no way Hyatt could have recouped the costs for the IT work to get to that point.
It’s being reported that Oasis was purchased, by a large vacation rental company called Vacasa. There are also reports that Oasis was in financial trouble and that Hyatt terminated the partnership upon consummation of the sale to Vacasa. The sale appears to have just been finalized, so the termination by either side so quickly after the Vacasa transaction is odd.
Hyatt is believed to have had a strategic investment in Oasis. And, while a sale to a larger company like Vacasa could trigger this sort of reaction, my experience in the business world is that these partnerships usually unwind a bit slower during an acquisition.
The Final Two Pennies
Did Hyatt walk about from this partnership, or did Vacasa pull the plug? Either way, this is a net negative for World of Hyatt members. I haven’t heard any complaints from members about stays not living up to expectations. That likely points to a problem with the internal relationship between Hyatt and Oasis. Money is at the root of so many issues like this one. If I had to guess, Oasis ran into stiff headwinds establishing themselves in the marketplace and couldn’t find a way to acquire enough funding to continue as a standalone entity.
I certainly had hope for the integration of Oasis into Hyatt, the marriage of traditional hotels with “new age” lodging options. None of this is good news for World of Hyatt members.
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