Hyatt announced back in November (read more here) that it had agreed to acquire Dream Hotel Group for $125 million upfront + an additional $175 million over six years, and the deal has closed today.
Dream Hotel Group operates 12 hotels and has another 24 signed yet-to-open hotels in its pipeline.
You can access Hyatt here and Dream Hotel Group here.
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Dream Hotel Brands:
The Hyatt’s press release states that the Dream Hotels will join the Boundless Collection and that the Chatwal and Unscripted Hotels are welcomed at Independent Collection.
Dream Hotel Open & Pipeline Portfolio:
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.
The Chatwal is now part of Hyatt’s Unbound Collection, meaning that only two additional brands of Dream Hotels and Unscripted Collection might join Hyatt’s ever-increasing portfolio of 26 brands.
The Chatwal has already been integrated into the World of Hyatt, and the other hotels will follow in due course.
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