Hyatt Hotels Corporation has announced an agreement to acquire Mr & Mrs Smith, a popular platform that offers direct booking access to more than 1,500 boutique and luxury properties globally.
The acquisition, set to close in Q2 2023 for an enterprise value of £53m in cash, is expected to further strengthen Hyatt’s distribution capabilities, especially across Europe.
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Synergy between the brands
In a release, the Chicago-based company reports synergy between the company’s collective ethos of care and the Mr & Mrs Smith team’s impressive work in building a direct booking collection of unique stay experiences including treehouses, underwater suites and caves.
The acquisition will enable Hyatt to explore bringing guests and World of Hyatt members more luxury offerings globally across hundreds of locations. This will include more than 20 countries where there are currently no Hyatt hotels, such as Fiji, Croatia, Iceland and Anguilla.
Transformative growth period
The planned acquisition of Mr & Mrs Smith is expected to build on Hyatt’s leadership position in luxury and distribution capabilities and to add over 1 million loyal Mr & Mrs Smith members to Hyatt’s network.
This deal builds on a transformative growth period for Hyatt in the 12 months to April 2023. This included the conversion of a portfolio of over 30 franchise agreements and the recently completed acquisition of the Dream Hotel Group’s lifestyle brand and management portfolio.
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By GlobalDataUnlocking access to properties
Hyatt now plans to unveil direct booking access to properties within the Mr & Mrs Smith platform through its distribution channels, including its website and the World of Hyatt app.
The move will have the potential to unlock access to more than twice the number of global boutique and luxury properties within Hyatt direct booking channels.
Hyatt is also exploring ways to enable World of Hyatt members to earn and redeem points across eligible hotels in the Mr & Mrs Smith collection.
