Hyatt is getting ready to add a new group of properties to its booking channels, but it’s not a new hotel brand. The company is acquiring its own line of vacation rentals, reminiscent of homes you’d book on Airbnb or Vrbo.

In the coming weeks, the company will officially launch “Homes & Hideaways by World of Hyatt.” The new portfolio will be a group of vacation rentals that customers will be able to book directly through Hyatt.

The move will give World of Hyatt members a way to earn and redeem points for that beach house or mountainside ski condo — as well the chance to earn elite-qualifying credit along the way. The lack of loyalty program is a common criticism from frequent Airbnb renters.

Hyatt is not the first major U.S. hotel company to add a short-term rental portfolio. Marriott International launched Marriott Homes & Villas four years ago, which has been a popular option for some Marriott Bonvoy loyalists.

How will Homes & Hideaways by Hyatt work?

Homes & Hideaways by Hyatt is its own vacation rental booking platform under the World of Hyatt umbrella.

Based on the photos, it does appear to be more on the upscale side of things, though. The company is noting a focus on the “premium vacation rentals segment.”

(Photo courtesy of Hyatt)

The program will initially be limited to rentals within the U.S., with Hyatt advertising properties from beach houses and country villas to mountainside ski chalets and urban townhouses.

The company will be working with a third-party affiliate, Lowe, to purchase and operate an existing line of rental properties, currently branded as Destination Residences Management.

Hyatt says the program will initially feature properties from the Destination Residences Management portfolio located in top U.S. leisure destinations, with plans to expand to internationally.

Each property will be “professionally managed by thoroughly vetted property management companies,” Hyatt says. That suggests Hyatt’s involvement may be more on the booking side of things, and less focused on nitty gritty, post-booking issues like maintenance.

Most appealing to World of Hyatt loyalists, undoubtedly, will be the ability to earn and redeem Hyatt points, as well as work their way toward elite status — even when staying at a beach house or other non-hotel rental property.

Current World of Hyatt elite status members will also earn the tier bonus points they are typically awarded during a hotel stay when they stay at one of these rental properties.

(Photo courtesy of Hyatt)

Should you book Homes & Hideaways by World of Hyatt?

Like Marriott did with its Homes & Villas offering, Homes & Hideaways by Hyatt hopes to provide its customers some of the benefits of booking a vacation rental property: more space than a hotel, full kitchens for families and tucked away in more off-the-beaten-path locations.

However, this portfolio has the added benefit of providing a loyalty incentive for World of Hyatt members.

Though you can now earn points when staying at Vrbo properties via the One Key program, there are few other options for members wanting to earn points (on top of credit card rewards) when staying at a rental property.

Related: 6 alternatives to Airbnb when you want other options

What’s next?

Though Hyatt announced its plans to launch its Homes & Hideaways program, we’re still waiting on details of exactly what the booking process will look like, which properties will be available and what it might take to redeem points for a stay. The company expects the program to launch in the coming weeks.

(Top photo courtesy of Hyatt)