Hyatt Hotels Corporation is set to fully acquire Mr & Mrs Smith for £53 million, further increasing the hospitality company’s position in the boutique and luxury segment.
Mr & Mrs Smith is a curated collection of more than 1,500 properties around the globe. Through the purchase, Mr & Mrs Smith’s collection of member properties will join the World of Hyatt members, adding over 20 countries where Hyatt presently does not already have locations, including Fiji, Croatia, Iceland and Anguilla.
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Commenting on the planned takeover of Mr & Mrs Smith, Mark Vondrasek, Chief Commercial Officer, Hyatt said: “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,” Vondrasek added.
Mr & Mrs Smith will strengthen Hyatt’s distribution capabilities, especially across Europe – through forging relationships with additional hotel owners and more than 1 million loyal Mr & Mrs Smith members. 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.
“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,” said Tamara Lohan, Co-Founder and CEO, Mr & Mrs Smith. “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.”
On social media, Lohan added:
“That such a heavyweight global business as Hyatt would see what we have built and want to take our brand and nurture it into its next stage is thrilling and unbelievable to me.
“I know that, under their stewardship, this business will get better and better – we share strong values, and both companies are strongly purpose-driven.”
“I truly believe that, like us, Hyatt is a force for good in this industry, and the more time I spend with the team there the more excited I get about what the future holds. The last two decades have been phenomenal; I can’t wait to see what we build together over the years to come,” she added.
Over 100 Mr & Mrs Smith colleagues are expected to join Hyatt’s Commercial Services team, including Tamara Lohan who will serve as Mr & Mrs Smith CEO, reporting to Mark Vondrasek, Hyatt’s Chief Commercial Officer, and James Lohan who will serve as Mr & Mrs Smith Chief Creative Officer.
The transaction is anticipated to close in the second quarter of 2023.