Hyatt Hotels Corporation has agreed to acquire London-based Mr & Mrs Smith, a travel booking platform offering direct access to more than 1,500 boutique and luxury properties. Chicago-based Hyatt will purchase 100% of the asset-light Mr & Mrs Smith platform for an enterprise value of £53.0 million (approximately US$66 million).
Mark Vondrasek, Chief Commercial Officer at Hyatt expressed his excitement about the planned acquisition: “We are thrilled by this opportunity and look forward to providing guests and World of Hyatt members with 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”.
The planned acquisition builds on a period of transformation for Hyat in the past 12 months which included acquisitions such as Dream Hotel Group’s lifestyle brand portfolio; conversion agreements with Lindner Hotels & Resorts and me&all hotels; plus substantial organic growth within its global portfolio.
