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Hyatt to Acquire Travel Booking Platform Mr and Mrs Smith
Hyatt Hotels Corporation has agreed to acquire London-based Mr & Mrs Smith, a travel booking platform offering direct booking access to more than 1,500 boutique and luxury properties. Chicago-based Hyatt will acquire 100% of the asset-light Mr & Mrs Smith platform for an enterprise value of £53.0 million (approximately US$66 million).
“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.
The planned acquisition builds on a transformative growth period for Hyatt in the past 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 more than 30 franchise agreements with Lindner Hotels & Resorts and me and all hotels, as well as substantial organic growth of Hyatt’s global portfolio.
- ◦Sale/Acquisition
