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Hyatt Press Release announcing acquisition of Mr&Mrs Smith (2 Jun 23)

Hyatt Press Release announcing acquisition of Mr&Mrs Smith (2 Jun 23)

Old Jun 12, 2023, 5:37 am
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Hyatt Press Release announcing acquisition of Mr&Mrs Smith (2 Jun 23)

Hyatt’s Transformative Growth Continues: More Markets, More Segments, More Opportunities
Hyatt completes acquisition of Mr & Mrs Smith travel platform that provides direct access to more than 1,500 boutique and luxury properties
Hyatt expects to maintain industry-leading net rooms growth into the future with increased focus on extended-stay in the Americas in addition to expansive opportunities globally across brand portfolioCHICAGO (June 2, 2023)Hyatt Hotels Corporation (NYSE: H) announced the completed acquisition of London-based Mr & Mrs Smith, a global travel platform that provides direct booking access to a carefully curated collection of more than 1,500 boutique and luxury properties. With this addition to the portfolio, World of Hyatt members will soon have even more rewarding stays and experiences to choose from, including more than 20 new countries for Hyatt such as Fiji, Croatia, Iceland and Anguilla. Hyatt acquired 100 percent of the asset-light Mr & Mrs Smith platform for an enterprise value of £53.0 million in cash consideration. The purchase price represents an attractive acquisition multiple in the high-single digits on projected stabilized earnings.

Hyatt further continues its transformative growth journey on the heels of doubling the number of luxury rooms, tripling the number of resort rooms, and quadrupling the number of lifestyle rooms over the past five years. Hyatt is poised to build upon that momentum with expansive opportunities globally across its brand portfolio and immediate developer interest in Hyatt Studios, Hyatt’s new extended-stay brand entry into the upper-midscale segment in the Americas.



“Our competitive advantage is that we have vast areas of white space for development and a rapidly growing World of Hyatt loyalty member base,” said Jim Chu, executive vice president & global growth officer. “We average four hotels in markets where we have hotels whereas our competition averages 14, meaning fertile territory for developers who don’t have to worry about intra-brand competition.”

Loyal Members Drive High-Quality Revenue for Owners

Hyatt’s growth is fueled by the World of Hyatt loyalty program’s member base, which has grown 260% over the past five years. Data shows that World of Hyatt members are looking for more opportunities to stay with Hyatt – in more segments and more markets. By listening to guests who previously stayed at Hyatt but opted to stay with a competing brand, it was primarily for two reasons: there was no Hyatt hotel within five miles, or they opted to stay a lower chain scale. Hyatt Studios hotels will present a solution to both for guests.

Data also shows that World of Hyatt members enjoy almost 50 percent more stays in a year than non-members and spend over 70 percent more per year with Hyatt than guests who are non-members. Since the launch of the Inclusive Collection, loyalty penetration across legacy Apple Leisure Group resorts in the Americas grew to 21 percent in just one year.

“World of Hyatt members represent high-quality revenue for owners and operators,” said Mark Vondrasek, chief commercial officer, Hyatt. “Our members spend more, stay more and seek out Hyatt for different stay occasions, as evidenced by the significant increase in Brand Explorer awards, which reward guests every time they stay at five different Hyatt brands.”

As part of Hyatt’s previously announced exclusive franchise agreements with Lindner Hotels & Resorts, more than 30 Lindner Hotels and me and all hotels will soon join the JdV by Hyatt brand and the World of Hyatt loyalty program, enabling members to earn and redeem points in 15 new destinations across Europe.
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