Hyatt Hotels to acquire hotel booking service Mr & Mrs Smith for £53m
Hyatt Hotels has agreed to acquire Mr & Mrs Smith, a London-based boutique and luxury hotel booking service, for £53 million in an all-cash deal.
The acquisition will be undertaken by an affiliate of the American hospitality company.
Mr & Mrs Smith provides direct booking access to a collection of more than 1,500 boutique and luxury properties.
Tamara Lohan — Mr & Mrs Smith co-founder and CEO said: “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.
“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.”
The acquisition plan of Mr & Mrs Smith is likely to strengthen Hyatt Hotels’ position as a leader in the luxury sector and further enhance its distribution capability, particularly across Europe by forging connections with hotel owners who are not included and more than one million members of the hotel booking platform.
The acquisition is based on the transformational growth of Hyatt Hotels in the past twelve months. This included the recent purchase of the lifestyle brand and management portfolio of Dream Hotel Group as well as the transformation of a portfolio with more than 30 franchise agreements with Lindner Hotels & Resorts and me and all hotels.
Hyatt Hotels plans to offer direct booking access to properties in the Mr & Mrs Smith platform via the former’s distribution channels, which include Hyatt.com as well as The World of Hyatt app.
The planned move has the potential of opening the doors to over double the number of international luxurious and boutique properties that are part of Hyatt Hotels’ direct booking platforms. Hyatt is also looking at methods to allow World of Hyatt members to earn and redeem points in suitable hotels in the Mr & Mrs Smith collection.
Mark Vondrasek — Hyatt Hotels chief commercial officer said: “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.”
The deal, which is subject to customary conditions, is expected to close in Q2 2023.