National + Global + Hospitality | November 29, 2022

Hyatt's acquisition of Dream Hotel Gfoup will expand its New York City presence, including the Dream Downtown hotel

Hyatt to Acquire Dream Hotel Group’s Global Platform

Hyatt Hotels Corporation has agreed to acquire Dream Hotel Group’s lifestyle hotel brand and management platform. Spanning properties in the Americas, Europe and Asia, the acquisition will include a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future.

Upon closing, Hyatt will pay $125 million, with an additional $175 million over the next six years as properties come into the pipeline and open. The expansion will add more than 1,700 rooms to Chicago-based Hyatt’s lifestyle portfolio and increase its room count in New York City, where Dream Hotel Group is based, by more than 30%.

Dream Hotel Group founder Sant Singh Chatwal will continue his commitment as an owner of four open and two future hotels that are expected to join the Hyatt portfolio, while CEO Jay Stein will join Hyatt as head of Dream Hotels.

Pictured: Dream Downtown in New York City.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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