Hyatt Hotels Corporation is buying London-based hotel booking platform Mr & Mrs Smith for £53 million.
Hyatt plans to launch direct booking access to properties within the Mr & Mrs Smith platform through its distribution channels. The anticipated move will have the potential to add more than twice the number of global boutique and luxury properties within Hyatt direct booking channels.
The transaction is anticipated to close in the second quarter of this year.
Why it matters
The acquisition of Mr & Mrs Smith is expected to build on Hyatt’s position in the luxury market and strengthen its distribution capabilities, especially across Europe – through forging relationships with additional hotel owner. This acquisition builds on other recent deals 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.
What they said
Mark Vondrasek, chief commercial officer, Hyatt, said: “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.”
Tamara Lohan, co-founder and chief executive officer, Mr & Mrs Smith, said: “I am really excited that we have found such a dynamic and globally trusted brand as Hyatt to take Mr & Mrs Smith into our next chapter. We have long admired and respected Hyatt and are confident that there is no one