HYATT COMPLETES DREAM HOTEL GROUP ACQUISITION (United States)
Addition of Dream Hotel Group further strengthens Hyatt’s global lifestyle footprint and accelerates asset-light growth |
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HYATT COMPLETES DREAM HOTEL GROUP ACQUISITION (United States)
Addition of Dream Hotel Group further strengthens Hyatt’s global lifestyle footprint and accelerates asset-light growth |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2023-02-07
Hyatt Hotels Corporation (NYSE: H) today announced the completion of the Dream Hotel Group lifestyle hotel brand and management platform acquisition, bringing a vibrant portfolio of lifestyle hotel brands – including Dream Hotels, The Chatwal and Unscripted Hotels – into the Hyatt portfolio.
The asset-light acquisition includes 12 lifestyle hotels (nine managed and three licensed), with another 24 signed long-term management agreements for hotels expected to open in the future.
Dream Hotel Group properties are known for their progressive design and vibrant dining and nightlife that are the soul of each hotel. They boast unique and authentic hospitality experiences built on inventive activations and design-savvy spaces that inspire creativity and act as social hubs for guests as well as local communities.
The acquisition welcomes more than 600 new colleagues into the Hyatt family, bringing deep expertise in experiential hospitality to Hyatt’s global portfolio of lifestyle offerings and extending Hyatt’s brand footprint in strategic destinations including Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha and several new locations new in New York City.
It will also include new markets such as the Catskills in New York and Valle de Guadalupe in Mexico.
“Hyatt’s acquisition of Dream Hotel Group represents an exciting chapter in our asset-light growth as we expand our lifestyle offerings, providing global travelers with an increased number of elevated experiences – now, and in the future,” said Mark Hoplamazian, president and chief executive officer, Hyatt.
“Together, we will carefully preserve the spirit and individual identities of the sought-after Dream Hotel Group hotels while adding the commercial strength of Hyatt’s marketing and sales channels, all united under the World of Hyatt loyalty program.”
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.
“Hyatt has a proven track record of preserving what makes lifestyle hotels special and is the ideal new home for our growing Dream Hotel Group brands,” said Sant Singh Chatwal, chairman and founder, Dream Hotel Group.
“As an owner of Dream Hotel Group properties, I look forward to the next part of our journey, and I am confident there is a bright future ahead for our hotels, owners, guests and team members as part of the Hyatt family.”
Former Dream Hotel Group CEO Jay Stein is joining Hyatt as Head of Dream Hotels to guide the integration of Dream Hotel Group brands into the Hyatt portfolio; former Dream Hotel Group Chief Development Officer David Kuperberg is joining Hyatt as Head of Development – Dream Hotels; and former Chief Operating Officer Michael Lindenbaum is joining Hyatt as Head of Operations – Dream Hotels.
Dream Hotels will join as a brand within Hyatt’s Boundless Collection.
The Chatwal and Unscripted Hotels brands will be welcomed into Hyatt’s Independent Collection, joining The Unbound Collection by Hyatt and JdV by Hyatt brands, respectively.
To learn more about these new properties, visit hyatt.com/info/dream-hotel-group-announcement.
On January 19, 2023, The Chatwal, a hotel in New York City, joined the World of Hyatt loyalty program. Stay tuned for when and how other Dream Hotel Group properties will participate in World of Hyatt.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2022, the Company’s portfolio included more than 1,200 hotels and all-inclusive properties in 72 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Residence Club, Hyatt Place, Hyatt House, and UrCove; the Boundless Collection, including Miraval, Alila, Andaz, Thompson Hotels, Hyatt Centric, and Caption by Hyatt; the Independent Collection, including The Unbound Collection by Hyatt, Destination by Hyatt, and JdV by Hyatt; and the Inclusive Collection, including Hyatt Ziva, Hyatt Zilara, Zoëtry Wellness & Spa Resorts, Secrets Resorts & Spas, Breathless Resorts & Spas, Dreams Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts, and Sunscape Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt loyalty program, ALG Vacations, Unlimited Vacation Club, Amstar DMC destination management services, and Trisept Solutions technology services.
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