MR & MRS SMITH acquired by HYATT

Hyatt Hotels announced on 28 April 2023 an agreement to acquire 100% of Mr & Mrs Smith, the London-based luxury hotel booking platform, from founders Tamara and James Lohan, at an enterprise value of £50–150M in cash. Completion was expected in the second quarter of 2023, subject to closing conditions. The platform brought a collection of more than 1,500 boutique and luxury properties, including hotels in over 20 countries where Hyatt had none, among them Fiji, Croatia, Iceland and Anguilla, along with more than a million members. Hyatt planned to open booking access to that collection through its own website and app, which would more than double the number of boutique and luxury properties available in its direct channels, and to explore ways for its loyalty members to earn and redeem points at eligible hotels. More than 100 employees were to join Hyatt’s commercial services team. Tamara Lohan stayed on as chief executive of Mr & Mrs Smith, reporting to Hyatt’s chief commercial officer Mark Vondrasek, while James Lohan became chief creative officer. Credit Suisse acted as financial adviser to Hyatt, with Linklaters as legal counsel, while Arrowpoint Advisory, part of Rothschild & Co, advised Mr & Mrs Smith, with Fieldfisher as legal counsel.

By taking control of Mr & Mrs Smith, Hyatt continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Dream Hotel Group in 2023.