Hyatt announces plans to acquire Mr & Mrs Smith for GBP53M in cash

Hyatt Hotels and Mr & Mrs Smith announced an agreement for a Hyatt affiliate to acquire London-based Mr & Mrs Smith, a platform offering direct booking access to a carefully curated and growing collection of over 1,500 boutique and luxury properties in some of the world’s most desirable locations. Hyatt will acquire 100% of the asset-light Mr & Mrs Smith platform for an enterprise value of GBP53M in cash consideration. The transaction is anticipated to close in the second quarter of this year, subject to customary closing conditions. At a later date following the closing, Hyatt plans to unveil direct booking access to properties within the Mr & Mrs Smith platform through Hyatt’s distribution channels, including Hyatt.com and the World of Hyatt app.