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Hyatt is set to complete a major $300 million acquisition of Dream Hotels in the coming months. The deal will see twelve properties added immediately to the hotel chain’s portfolio, with another two dozen already in the pipeline.
While a major hotel brand, Hyatt lags behind Hilton and Marriott in global reach. Its new deal with Dream is a calculated step to broaden its horizons in some significant markets.
What’s Dream Hotels’ MO?
Dream Hotels is an interesting direction for Hyatt. It’s a definitive step into the growing lifestyle hotel market.
In the company’s own words, Dream’s properties are “A lighthearted exploration of all things after dark.” It places a strong emphasis on its on-location bars and clubs and has a reputation as a party hotel brand heavily geared toward the younger traveler.
Where can you find Dream Hotels?
Hyatt will likely acquire twelve properties immediately, with two in New York City and one each in Nashville, Los Angeles, and South Beach, Miami. Abroad, they have properties in the likes of Doha and Bangkok, with many more set to open in the near future.
The combined addition is expected to add around 1,700 rooms to Hyatt’s current figure. It’s relatively small as Dream’s properties are generally more boutique-style hotels.
by your friends at The Daily Navigator
