by Lacey Pfalz
on April 28, 2023 Last updated: 9:45 AM ET, Fri April 28, 2023
Hyatt Hotels Corporation will be acquiring London-based travel club platform Mr & Mrs Smith, which has an enterprise value of £53 million. Mr & Mrs Smith is a direct booking platform for over one million members, giving travelers access to a curated collection of over 1,500 boutique and luxury properties across the globe.
The acquisition is expected to expand Hyatt’s luxury offerings and distribution capabilities in Europe. The purchase will be completed during the second quarter this year, with direct access booking to the Mr & Mrs Smith platform to be rolled out in later months across Hyatt’s distribution channels. “The planned acquisition of Mr & Mrs Smith is the perfect complement to Hyatt’s ability to offer luxury stay experiences as we already have the world’s largest portfolio of luxury branded hotel rooms in resort locations,” said Mark Vondrasek, chief commercial officer, Hyatt. “Following the planned acquisition close, we look forward to unlocking guest and World of Hyatt member access to new wow-worthy stay experiences at luxury properties across the world, including markets where there currently are no Hyatt hotels.”
World of Hyatt members will also be able to enjoy benefits through booking properties in the collection, more than doubling the number of luxury and boutique offerings already in Hyatt’s booking systems. Over a hundred Mr & Mrs Smith colleagues will join Hyatt’s Commercial Services team, including founders Tamara and James Lohan, who will serve as Mr & Mrs Smith CEO and chief creative officer, respectively.
“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 better placed to build on what we have achieved and take our company to new heights,” shared Tamara Lohan, co-founder and chief executive officer, Mr & Mrs Smith.“Our vision has always been for Mr & Mrs Smith to be the world’s definitive travel club for hotel lovers. Thanks to Hyatt, that vision has become much closer to reality,” continued Lohan. “With Hyatt’s support, Mr & Mrs Smith will be able to offer our community of members, hoteliers and partners so much more.”Hyatt has had a strong trend of acquisitions during the past twelve months. It recently completed the acquisition of Dream Hotel Group’s lifestyle brand and converted over thirty franchise agreements with Lindner Hotels & me and all hotels. For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
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Appeared first on: Travelpulse.com