Hyatt expands luxury market with acquisition of Mr. and Mrs. Smith hotels.
Hyatt is set to acquire London-based travel booking platform Mr. & Mrs. Smith for £53m ($66m), comprising over 1,500 boutique and luxury hotels and villas worldwide. The deal will see Hyatt expand its reach into the luxury and lifestyle hotel segment, particularly in countries where there are currently no Hyatt-branded hotels in operation. The acquisition comes at the expense of IHG Hotels & Resorts, which currently has a partnership with Mr. & Mrs. Smith.