Hyatt to Acquire Mr & Mrs Smith
Hyatt Hotels and Mr & Mrs Smith today announced an agreement for a Hyatt affiliate to acquire London-based Mr & Mrs Smith, a platform offering direct booking access to a carefully curated and growing collection of over 1,500 boutique and luxury properties in some of the world’s most desirable locations.
Hyatt will acquire 100 percent of the asset-light Mr & Mrs Smith platform for an enterprise value of £53.0 million ($66 million) in cash consideration.
Mr & Mrs Smith (a nod to the classic check-in pseudonym for illicit stays of old) is a responsibly sourced global collection luxury properties with amazing and unique stay experiences including rooms located in treehouses, within caves and underwater suites. In time, Hyatt looks forward to providing World of Hyatt members with a whole new collection of rewarding experiences, including direct booking access to more than twice the number of global boutique and luxury properties in Hyatt’s portfolio.
“We are excited by this planned acquisition and to explore bringing guests and World of Hyatt members even more global luxury offerings across hundreds of geographies – including over 20 countries where there are currently no Hyatt hotels such as Fiji, Croatia, Iceland and Anguilla,” said Mark Vondrasek, chief commercial officer, Hyatt. “Founders Tamara and James Lohan alongside their impressive team have built the ultimate global direct booking collection of truly unique stay experiences including rooms located in treehouses, within caves, and underwater suites. Importantly, we see a lot of synergy between our collective ethos of care, and we look forward to working together to bring our shared focus to new, memorable stay experiences for guests and World of Hyatt members – and introduce new guests to Hyatt hotels around the world.”
The planned acquisition of Mr & Mrs Smith is expected to build on Hyatt’s leadership position in luxury and further strengthen Hyatt’s distribution capabilities, especially across Europe – through forging relationships with additional hotel owners and more than 1 million loyal Mr & Mrs Smith members. This acquisition builds on a transformative growth period for Hyatt in the last 12 months, which included the recently completed acquisition of Dream Hotel Group’s lifestyle brand and management portfolio and the conversion of a portfolio of over 30 franchise agreements with Lindner Hotels & Resorts and me and all hotels, as well as substantial organic growth of Hyatt’s global portfolio.
As a result of Hyatt’s expanded brand portfolio and ever-growing offering for every stay occasion, membership in the World of Hyatt loyalty program has more than tripled during the past five years.
The transaction is anticipated to close in the second quarter of this year, subject to customary closing conditions. At a later date following the closing, Hyatt plans to unveil direct booking access to properties within the Mr & Mrs Smith platform through Hyatt’s distribution channels, including Hyatt.com and the World of Hyatt app. The anticipated 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, and Hyatt is exploring ways to enable World of Hyatt members to earn and redeem points across eligible hotels in the Mr & Mrs Smith collection.