Hyatt Hotels acquires Mr & Mrs Smith as growth push extends

Hyatt Hotels Corporation (NYSE:H) announced an agreement for an affiliate to acquire London-based Mr & Mrs Smith for an enterprise value of £53.0M in cash. The transaction is expected to close in Q2.

Mr & Mrs Smith is described as a platform offering direct booking access to a collection of over 1,500 boutique and luxury properties in some of the world’s most desirable locations.

The hotel operator said the planned acquisition of Mr & Mrs Smith is expected to build on Hyatt’s (H) leadership position in luxury and further strengthen Hyatt’s distribution capabilities, especially across Europe. The acquisition is noted to build on what has been a transformative growth period for Hyatt in the last 12 months, which included the recently completed acquisition of Dream Hotel Group’s lifestyle brand and management portfolio and the conversion of a portfolio of over 30 franchise agreements with Lindner Hotels & Resorts. 

Hyatt (H) 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.