Hotels giant Hyatt has announced plans to acquire London-based accommodation platform and travel club Mr & Mrs Smith for £53 million.
The deal is expected to conclude in the second quarter of the year, with plans to make properties on the plaftorm available through Hyatt booking channels.
Hyatt estimates the acquisition will double the number of boutique and luxury products it can offer. Mr & Mrs Smith currently features more than 1,800 properties worldwide and is used by third party travel agents to book independent hotels and accommodation.
Mr & Mrs Smith co-founder and chief executive Tamara Lohan will continue in her role following the acquisition, reporting to Hyatt chief commercial officer Mark Vondrasek.
James Lohan who will serve as Mr & Mrs Smith chief creative officer, while more than 100 current staff are expected to join Hyatt’s commercial services team.
Vondrasek said: “We are excited by this planned acquisition and to explore bringing guests and World of Hyatt members even more global luxury offerings across hundreds of geographies – including over 20 countries where there are currently no Hyatt hotels such as Fiji, Croatia, Iceland and Anguilla.
“Founders Tamara and James Lohan alongside their impressive team have built the ultimate global direct booking collection of truly unique stay experiences including rooms located in treehouses, within caves, and underwater suites. Importantly, we see a lot of synergy between our collective ethos of care, and we look forward to working together.”
Tamara Lohan added: “I am really excited that we have found such a dynamic and globally trusted brand as Hyatt to take Mr & Mrs Smith into our next chapter. We have long admired and respected Hyatt and are confident that there is no one better placed to build on what we have achieved and take our company to new heights.
“Our vision has always been for Mr & Mrs Smith to be the world’s definitive travel club for hotel lovers. Thanks to Hyatt, that vision has become much closer to reality. With Hyatt’s support, Mr & Mrs Smith will be able to offer our community of members, hoteliers and partners so much more.”
Photo: Hyatt