Dive Brief:
- Hyatt will acquire London-based luxury hotel platform Mr & Mrs Smith for 53 million pounds, or about $66.6 million, the company announced in a release.
- Mr & Mrs Smith offers a curated collection of more than 1,500 boutique and luxury properties around the globe, including in more than 20 countries such as Fiji and Croatia where Hyatt doesn’t currently have a presence.
- With the deal, Hyatt expands its position in the luxury market with an eye toward further distribution opportunities as well as loyalty plays.
Dive Insight:
Hyatt’s planned acquisition of Mr & Mrs Smith will help build on the hotel’s position within the luxury market as well as further strengthen its distribution capabilities, namely in Europe.
Founded in 2003, Mr & Mrs Smith, which bills itself as a “travel club for hotel lovers” with more than 1 million members, offers direct booking access to unique stay experiences such as rooms located in tree houses, within caves and in underwater suites.
Following the close of the deal, expected in the second quarter of this year, Hyatt said it plans to offer direct booking capabilities to properties on the Mr & Mrs Smith platform through its own digital channels, including Hyatt.com and its loyalty program app, potentially enabling access to more than twice the number of global boutique and luxury properties currently available through the hotel’s network.
The Chicago-based hospitality company is also looking into allowing World of Hyatt members — of which there are 36 million as of the end of 2022 — to earn and redeem points across eligible hotels in the Mr & Mrs Smith collection.
More than 100 Mr & Mrs Smith employees are expected to join Hyatt’s commercial services team following the close of the deal. Co-founders Tamara Lohan and James Lohan will serve as Mr and Mrs Smith CEO and chief creative officer, respectively.
Previously, Hyatt acquired Dream Hotel Group in November 2022 and Apple Leisure Group in August 2021.
