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Hyatt Hotels Corporation will acquire 100 percent of the London-based Mr & Mrs. Smith platform for an enterprise value of £53.0 million in cash.
.The planned acquisition would let Hyatt bring guests and World of Hyatt members to more global luxury offerings across hundreds of destinations, including over 20 countries where there are no Hyatt hotels, such as Fiji, Croatia, Iceland, and Anguilla.
Hyatt plans to unveil direct booking access to properties within the Mr & Mrs. Smith platform through Hyatt’s distribution channels, including Hyatt.com and the World of Hyatt app.
Mr & Mrs. Smith offers direct booking access to a growing collection of over 1,500 boutique and luxury properties in some of the world’s most desirable locations, including unique stay experiences at rooms in treehouses, within caves, and underwater.
It would boost Hyatt’s distribution capabilities, especially across Europe – through forging relationships with additional hotel owners and more than 1 million loyal Mr & Mrs. Smith members.
The transaction is expected to be completed in the second quarter of this year, subject to customary closing conditions.
Following the planned acquisition close, over 100 Mr & Mrs. Smith colleagues are expected to join Hyatt’s Commercial Services team.
Among them are Mr & Mrs. Smith founders Tamara and James Lohan.
Tamara will serve as Mr & Mrs. Smith's CEO, and James will be Mr & Mrs. Smith's chief creative officer.
