Originally Posted by
pronichkin
It looks like back in 2021 the hotel was transitioned from full Hyatt corp ownership to being an independently owned franchisee (Liberty Hotel Investments, according to Wikipedia). Not sure if that was always the plan, or it was the pandemic what made it more of a burden than an asset for Hyatt. But anyways, it would explain the sudden change of course.
Hyatt corporate is making a point of continuing towards being an asset-light hospitality brand, as per this press release from May.
Hyatt Hotels Corporation - Hyatt Investor Day to Highlight Asset-Light Transformation and Expectations for Significant Expansion in Free Cash Flow
Perhaps this is the way the capital markets' winds are blowing. I think in select circumstances (like Alila Ventana) they're willing to buy the property, for instance to keep it in the system. But otherwise it now seems even more common for them to not own the property, and I agree this could explain the sudden change of course [for breakfast].