Hyatt adds 1,700 rooms with Dream Hotel Group acquisition

Hyatt Hotels has revealed plans to acquire lifestyle hotel brand Dream Hotel Group, adding over 1,700 rooms to Hyatt’s lifestyle portfolio and increasing its room count in New York City by more than 30 per cent.

The acquisition will encompass Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands, with properties in some of the world’s most prominent hotel markets across the Americas, Europe and Asia.

Once completed, 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, will be added to Hyatt’s lifestyle portfolio.

According to the agreement, 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.

The news follows Hyatt’s acquisition of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021.

Dream Nashville

Dream Hotel Group properties are known for their dining and nightlife experiences including hotspot restaurants, entertainment venues and exclusive nightclubs built on strategic collaborations with industry leaders.

The acquisition will extend Hyatt’s brand footprint in key markets, including Nashville, Hollywood, South Beach, Durham, several locations in New York City and one in the Catskills, plus pipeline destinations including Las Vegas, Saint Lucia and Doha.

Sant Singh Chatwal, chairman and founder, Dream Hotel Group said Hyatt’s track record of preserving “what makes lifestyle hotels special” makes it the ideal new home for Dream Hotel Group’s growing brands.

“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,” Chatwal said.

The Chatwal Lodge, White Lake, New York

Once the transaction is completed, which is expected to be within months, Hyatt will add the new properties to the World of Hyatt loyalty program, bringing more stay occasions and destinations to its member base.

Chatwal will continue to be part of the company as the 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 head of Dream Hotels to guide the integration of the brands into the Hyatt portfolio, ensuring each brand is preserved while leveraging Hyatt’s capabilities to optimize property performance.

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

Featured image: Dream Downtown, New York City

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acquire acquisition Dream Hotel Group dream hotels hyatt hotels Jay Stein lifestyle hotel Mark Hoplamazian Sant Singh Chatwal The Chatwal Hotels Unscripted Hotels world of hyatt