Tourexpi
Hyatt
Hotels Corporation
(NYSE: H) today announced the completion of the Dream Hotel Group lifestyle hotel
brand and management platform acquisition, bringing a vibrant portfolio of lifestyle
hotel brands – including Dream Hotels, The Chatwal and Unscripted Hotels – into
the Hyatt portfolio. The asset-light acquisition includes 12 lifestyle hotels (nine
managed and three licensed), with another 24 signed long-term management agreements
for hotels expected to open in the future.
Dream Hotel Group properties are known for their progressive design and vibrant
dining and nightlife that are the soul of each hotel. They boast unique and authentic
hospitality experiences built on inventive activations and design-savvy spaces that
inspire creativity and act as social hubs for guests as well as local communities.
The acquisition welcomes
more than 600 new colleagues into the Hyatt family, bringing deep expertise in experiential
hospitality to Hyatt’s global portfolio of lifestyle offerings and extending Hyatt’s
brand footprint in strategic destinations including Nashville, Hollywood, Las Vegas,
South Beach, Saint Lucia, Doha and several new locations new in New York City. It
will also include new markets such as the Catskills in New York and Valle de Guadalupe
in Mexico.
“Hyatt’s acquisition of
Dream Hotel Group represents an exciting chapter in our asset-light growth as we
expand our lifestyle offerings, providing global travelers with an increased number
of elevated experiences – now, and in the future,” said Mark Hoplamazian, president
and chief executive officer, Hyatt. “Together, we will carefully preserve the spirit
and individual identities of the sought-after Dream Hotel Group hotels while adding
the commercial strength of Hyatt’s marketing and sales channels, all united under
the World of Hyatt loyalty program.”
Dream Hotel Group founder
Sant Singh Chatwal will continue his commitment as an owner of four open and two
future hotels that are expected to join the Hyatt portfolio.
“Hyatt has a proven track
record of preserving what makes lifestyle hotels special and is the ideal new home
for our growing Dream Hotel Group brands,” said Sant Singh Chatwal, chairman and
founder, Dream Hotel Group. “As an owner of Dream Hotel Group properties, I look
forward to the next part of our journey, and I am confident there is a bright future
ahead for our hotels, owners, guests and team members as part of the Hyatt family.”
Former Dream Hotel Group
CEO Jay Stein is joining Hyatt as Head of Dream Hotels to guide the integration
of Dream Hotel Group brands into the Hyatt portfolio; former Dream Hotel Group Chief
Development Officer David Kuperberg is joining Hyatt as Head of Development – Dream
Hotels; and former Chief Operating Officer Michael Lindenbaum is joining Hyatt as
Head of Operations – Dream Hotels.
Dream Hotels will join
as a brand within Hyatt’s Boundless Collection. The Chatwal and Unscripted Hotels
brands will be welcomed into Hyatt’s Independent Collection, joining The Unbound
Collection by Hyatt and JdV by Hyatt brands, respectively.
To learn more about these
new properties, visit hyatt.com/info/dream-hotel-group-announcement.
On January 19, 2023, The Chatwal, a hotel in New York City, joined the World of
Hyatt loyalty program. Stay tuned for when and how other Dream Hotel Group properties
will participate in World of Hyatt.
Image Credit: © Hyatt
Hotels Corporation
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