Hyatt continues its asset-light growth strategy with the signing of an agreement with Dream Hotel Group to acquire the lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands. As a result of this merger, the 600 Dream Hotel employees will be incorporated into the Hyatt Family.
This asset-light acquisition includes 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. Upon closing, this expansion will add over 1,700 rooms to Hyatt’s lifestyle portfolio.
This acquisition continues Hyatt’s asset-light growth strategy following its transactions to acquire Two Roads Hospitality in 2018 and Apple Leisure Group in 2021, and most recently Hyatt’s collaboration agreement with German Lindner Hotels AG, to further grow Hyatt’s brand footprint in Europe.
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. Signed contracts represent additional strategic destinations including Las Vegas, Saint Lucia and Doha.
We look forward to continuing our growth journey with more than 600 new Hyatt family members who will further elevate our lifestyle expertise and expand the success of our dedicated lifestyle division. We are excited to offer even more inspiring experiences and celebratory programming to our guests and loyalty members and bring the value of the Hyatt network to a growing number of discerning hotel owners and developers around the world.
Mark Hoplamazian, President and CEO, Hyatt
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. 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.
Sant Singh Chatwal, chairman and founder, Dream Hotel Group
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. Dream Hotel Group CEO Jay Stein will join Hyatt as Head of Dream Hotels to guide the integration of the Dream Hotel Group brands into the Hyatt portfolio.
Additionally, Dream Hotel Group’s Chief Development Officer David Kuperberg will join Hyatt as Head of Development – Dream Hotels; Chief Operating Officer Michael Lindenbaum will join Hyatt as Global Head of Operations – Dream Hotels.
On 28th June 2023, Hyatt announced the completion of the integration of the Dream Hotels brand, as well as The Chatwal, The Time New York, and Unscripted hotels into World of Hyatt.
The following nine hotels are now bookable through Hyatt channels and offer the benefits of the company’s loyalty programme:
- Dream Downtown, New York
- Dream Hollywood, California
- Dream Midtown, New York
- Dream Nashville, Tennessee
- Dream South Beach, Florida
- The Chatwal, New York
- The Chatwal Lodge, New York
- The Time New York, New York
- Unscripted Durham, North Carolina
The Dream Hotels properties have joined Hyatt’s Boundless Collection, whilst The Chatwals have become members of The Unbound Collection and the JdV by Hyatt brand welcomed The Time New York and Unscripted Durham.
Dream Hotel Group properties bring modern design and thoughtfully curated programming to entertain, connect, and better serve our guests and members, further enriching our growing lifestyle portfolio. With the increasing demand for exceptional leisure travel options, we’re excited to provide our members with expanded options to earn and redeem at exquisite properties that offer a fresh perspective on the guest experience.
Amy Weinberg, Senior Vice-President of Loyalty, Brand Marketing, & Consumer Insights at Hyatt