Hyatt has entered into an agreement to acquire the London-based travel platform Mr & Mrs Smith.
The company has a collection of more than 1,500 boutique and luxury hotels, including a large number in the Caribbean.
Hyatt is acquiring the company for an enterprise value of 53 million GBP.
“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. “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.”
It’s the latest in a continued push by Hyatt to expand its travel portfolio, most notably with the 2021 acquisition of Apple Leisure Group, one that signaled Hyatt’s intent to become a leader in the all-inclusive space.
The deal is expected to close in the second quarter of this year.
Hyatt will eventually unveil direct booking access to properties within the Mr & Mrs Smith portfolio.
“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. With Hyatt’s support, Mr & Mrs Smith will be able to offer our community of members, hoteliers and partners so much more.”