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Hyatt has today announced plans to purchase Dream Hotels Group, which is expected to add twelve properties to the World of Hyatt program in the short-term and a further 24 properties in the medium term.
Dream Hotels Group covers the Dream Hotels, The Chatwal Hotels, and Unscripted Hotels brands, and offers properties in the Americas, Europe and Asia.
Hyatt’s planned purchase of the group will cost $125m upfront and a further $175m over the next six years are more properties come on line and will include a portfolio of 12 managed or franchised “lifestyle hotels” that are currently accepting guests, and a further 24 properties which are currently in the pipeline and which will sign long-term management agreements when they approach completion.
As things stand, the Unscripted and Chatwal brands only contain one and two properties respectively, so the overwhelming majority of properties that will enter the World of Hyatt once the purchase completes will be coming from the Dream Hotels brand.
The Chatwal Hotels
- The Chatwal New York – New York City, New York
- The Chatwal Lodge – White Lake, New York
The Chatwal Valle de Guadalupe is reportedly coming in 2023 and The Chatwal San Miguel de Allende is scheduled to open in 2024.
Unscripted Hotels
- Unscripted Durham – Durham, North Carolina
Dream Hotels
- Dream Nashville – Nashville, Tennessee
- Dream Hollywood – Los Angeles, California
- Dream Downtown – New York City, New York
- Dream Midtown – New York City, New York
- Dream South Beach – Miami, Florida
- Dream Bangkok, Thailand
- Dream Phuket, Thailand
- Dream Doha, Qatar
Dream Hotel properties in the pipeline include: Dream Valle de Guadalupe and Dream Memphis (expected in 2023), Dream Atlanta, Dream Cleveland, Dream Dallas, Dream Las Vegas, Dream Oklahoma City, Dream Palm Springs, and Dream San Antonio (all expected in 2024), and Dream Louisville, Dream Miami, and Dream Frisco (expected in 2025).
Per Hyatt:
“Dream Hotel Group properties are known for their vibrant dining and nightlife experiences including hotspot restaurants, lavish entertainment venues and exclusive night clubs built on strategic collaborations with innovative and award-winning 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. Signed contracts represent additional strategic destinations including Las Vegas, Saint Lucia and Doha.”
Once the deal closes (which, we’re told, will be “in the coming months”), it will see Hyatt add over 1,700 rooms to its lifestyle portfolio and it will increase Hyatt’s room count in New York City by more than 30% so while the number of properties involved may not appear significant, this is actually an important deal for Hyatt to do… especially from an NYC point of view.
Importantly, from a Hyatt fan’s point of view, it looks like a significant number of these properties get good reviews from past guests (e.g. Dream Hollywood) and one property in particular, the Chatwal New York, appears to be particularly high-end.
In fact, as things stand, The Chatwal New York can still be found on Marriott.com as Luxury Collection property and as Marriott is still selling rooms there through the middle of November 2023, someone clearly needs to give the people at Bethesda a call to let them know that the Chatwal is on the way out 🙂
For the time being, that’s all the news we have on this deal, but as more information is released, it will appear here in TFM.
Bottom line
Hyatt has announced that it plans to purchase another (small) hotel group to help grow its footprint yet further. The Dreams Hotels Group is expected to become part of Hyatt in the coming months, so World of Hyatt fans can look forward to soon being able to earn and burn points at new properties in locations such as Nashville, Hollywood, Miami, New York and more.
Featured image: The Chatwal Lodge, courtesy of Hyatt
