Hyatt Hotels acquiring Dream Hotel Group for $300 million

Hyatt Hotels has announced a $300 million agreement to purchase Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels, and Unscripted Hotels brands.
Hyatt Hotels has announced a $300 million agreement to purchase Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels, and Unscripted Hotels brands.

Hyatt Hotel Corporation and Dream Hotel Group announced a $300 million 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 include 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. Upon closing, this expansion will add more than 1,700 rooms to Hyatt’s lifestyle portfolio. This acquisition continues the company’s growth strategy following its transactions to acquire 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.

Upon closing, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years as properties come into the pipeline and open.

Dream Hotel Group properties are known for their vibrant dining and nightlife experiences including hotspot restaurants, lavish entertainment venues, and exclusive nightclubs built on strategic collaborations with innovative and award-winning industry leaders. The acquisition will extend Hyatt’s brand footprint in key markets, including Nashville, Tenn., South Beach, Fla., and Durham, N.C.

“We have tremendous respect for what Dream Hotel Group founder Sant Singh Chatwal and CEO Jay Stein and their team have created and are grateful for the trust being placed in us by Dream Hotel Group to care for their brands and carry their success forward into the future,” says Mark Hoplamazian, president and chief executive officer, Hyatt. “We look forward to continuing our growth journey with more than 600 new Hyatt family members who will further elevate our lifestyle expertise and expand the success of our dedicated lifestyle division. We are excited to offer even more inspiring experiences and celebratory programming to our guests and loyalty members and bring the value of the Hyatt network to a growing number of discerning hotel owners and developers around the world.”

“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,” says Sant Singh Chatwal, chairman and founder, of Dream Hotel Group. “As an owner of Dream Hotel Group properties, I look forward to the next part of our journey and am confident there is a bright future ahead for our hotels, owners, guests, and team members as part of the Hyatt family.”

The transaction is anticipated to close in the coming months, subject to customary closing conditions. Following the completion of the deal, Hyatt will integrate the new properties into the World of Hyatt loyalty program, bringing more stay occasions and destinations to its member base.

Chatwal will continue as an owner of four open and two future hotels that are expected to join the Hyatt portfolio. Dream Hotel Group CEO Jay Stein will join Hyatt as the head of Dream Hotels to guide the integration of its brands into the Hyatt portfolio.

Additionally, Dream Hotel Group’s chief development officer David Kuperberg will join Hyatt as head of development – Dream Hotels and chief operating officer Michael Lindenbaum will join Hyatt as global head of operations – Dream Hotels.

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