They already got good coverage in Ibiza. There's the 7pines (Destination by Hyatt), several Mr&Mrs Smith boutique hotels, and Alua on the low end.

TBH, I usually have a hard time rationalizing Hyatt's acquisitions and fail to see the economics. To be fair, I often feel the same way about other chains' expansions (e.g., IHG's recent deal in Germany's budget segment seems odd to me). It feels like everything is being snapped up by the big chains as if this was the consolidation endgame.