Hyatt Acquires Dream Hotels
Hyatt revealed today an agreement to acquire Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands.
This acquisition will add a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future. The expansion will add over 1,700 rooms to Hyatt’s lifestyle portfolio and increase Hyatt’s room count in New York City by more than 30%.
This news follows Hyatt’s acquisition of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021 – and, most recently, Hyatt’s collaboration agreement with German Lindner Hotels AG, to further grow Hyatt’s brand footprint in Europe.
Dream Hotel Group properties are known for their vibrant dining and nightlife experiences including hotspot restaurants, lavish entertainment venues and exclusive night clubs built on strategic collaborations with innovative and award-winning industry leaders. The acquisition will extend Hyatt’s brand footprint in key markets, including Nashville, Hollywood, South Beach, Durham, several locations in New York City and one in the Catskills. Signed contracts represent additional strategic destinations including Las Vegas, Saint Lucia and Doha.
The transaction is anticipated to close in the coming months. Following completion of the transaction, Hyatt will work to welcome the new properties into the World of Hyatt loyalty program, bringing more stay occasions and destinations to its member base. It’s not clear yet what categories these new properties will fall in, but hopefully will see some added options for using FNCs.