Hyatt and Playa Hotels & Resorts will introduce the Hyatt Ziva Cancun, the former Dreams Cancun, in late 2015.
The 379-suite resort, currently undergoing a multimillion-dollar renovation, will be operated by Playa's hotel management division.
"The Hytt Ziva Cancun represents an opportunity to restore and transform one of Cancun's most architecturally significant resorts into an innovative destination for the well-traveled, all-inclusive guest," said Playa CEO Bruce Wardinski.
The Hyatt Ziva Cancun is located at the tip of Punta Cancun, surrounded on three sides by the Caribbean Sea.
The renovation will maintain the resort's original pyramid-style Mexican architecture in a village-like atmosphere. A bridge connecting the north beach and south beach will offer access to beaches, entertainment and dining.
The resort will feature six restaurants, six bars and lounges, a dolphin experience, lagoon-style pools, an adults-only pool, a spa, beach butlers and a romance concierge.
Hyatt's first two all-inclusive resorts, the Hyatt Zilara Cancun and Hyatt Ziva Los Cabos, debuted last November.
The Zilara brand targets adults only, while the Ziva brand is aimed at the family market.
The Hyatt Ziva Puerto Vallarta is slated to open late this year, as are the Hyatt Zilara Rose Hall and Hyatt Ziva Rose Hall in Montego Bay. All are existing properties that will be reflagged.
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Follow Gay Nagle Myers on Twitter @gnmtravelweekly.