Hyatt Hotels Corporation (NYSE: H), a major player in the luxury hotel sector, has strengthened its position by announcing the acquisition of Mr & Mrs Smith, a London-based platform offering direct access to over 1,500 selected luxury properties worldwide. This £53 million transaction will enable the World of Hyatt loyalty program to expand and welcome even more members.
Mark Vondrasek, Hyatt’s Chief Commercial Officer, is delighted with the acquisition, which will offer World of Hyatt customers and members unique stay experiences in popular destinations such as Fiji, Croatia, Iceland and Anguilla, where Hyatt does not yet have a presence. The collaboration with Tamara and James Lohan, the founders of Mr & Mrs Smith, and their talented team, will create memorable new experiences for World of Hyatt guests and members.
Javier Águila, Group President EAME, Hyatt, underlines the enthusiasm of the Hyatt EAME family for this acquisition, which will open up attractive markets in regions where Hyatt does not yet have hotels. It will also bring unforgettable Hyatt experiences to the many Mr & Mrs Smith members based in the EAME region.
The acquisition of Mr & Mrs Smith will consolidate Hyatt’s leading position in the luxury segment and strengthen its distribution capabilities, particularly in Europe, by forging relationships with other hotel owners and the more than one million loyal members of Mr & Mrs Smith. This transaction comes at a time of transformative growth for Hyatt, including the acquisition of Dream Hotel Group and the conversion of more than 30 franchise agreements with Lindner Hotels & Resorts and me and all hotels.
The number of members of the World of Hyatt loyalty program has more than tripled over the past five years, thanks to Hyatt’s expanding brand portfolio and ever-greater offering for every travel occasion. The transaction is expected to close in the second quarter of this year.
Hyatt plans to unveil direct booking access to properties on the Mr & Mrs Smith platform through Hyatt’s distribution channels, including Hyatt.com and the World of Hyatt app. This move will unlock access to more than twice the number of boutique and luxury hotels in Hyatt’s direct booking channels. Hyatt is also exploring ways to enable World of Hyatt members to earn and redeem points at eligible hotels in the Mr & Mrs Smith collection.
Tamara Lohan, co-founder and CEO of Mr & Mrs Smith, expresses her satisfaction at seeing her brand join the Hyatt Group, convinced that no one is better placed to build on what they have achieved and take their business to new heights. “Our goal has always been to make Mr & Mrs Smith the world’s best travel club for hotel lovers. Thanks to Hyatt, this vision has become much closer to reality. With Hyatt’s support, Mr & Mrs Smith will be able to offer so much more to its community of members, hoteliers and partners.”
Following the closing of the acquisition, more than 100 Mr & Mrs Smith employees are expected to join Hyatt’s commercial services team. Tamara Lohan will take on the role of CEO of Mr & Mrs Smith, reporting to Mark Vondrasek, Hyatt’s Chief Commercial Officer, while James Lohan will assume the role of Creative Director of Mr & Mrs Smith.
Credit Suisse acted as financial advisor to Hyatt and Linklaters LLP as legal advisor on the transaction. Arrowpoint Advisory (part of Rothschild & Co) acted as financial advisor to Mr & Mrs Smith and Fieldfisher LLP as legal advisor.
With this strategic acquisition, Hyatt strengthens its presence in the luxury sector and builds loyalty among a demanding clientele in search of unique and unforgettable experiences. The Hyatt group thus continues to position itself as a key player in the global luxury hotel industry.
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