May 1. Hyatt wants to improve its position in the luxury sector. The company announced plans on Friday to acquire UK boutique hotel booking site Mr & Mrs Smith for about $66 million, reports Corporate Travel Editor Matthew Parsons.
Parsons writes the deal could double the number of boutique and luxury properties that Hyatt offers. In addition, Hyatt Chief Commercial Officer Mark Vondrasek said the company would be able to introduce its World of Hyatt loyalty program to a wider audience. The acquisition includes properties in more than 20 countries where Hyatt lacks a boutique presence, including Fiji, Croatia and Iceland.
Hyatt said the transaction is anticipated to close in the second quarter. The company also plans to add direct booking access to properties in Mr & Mrs Smith’s platform through Hyatt’s website and mobile app.
Next, Bentley and Fabergé have long been renowned in the world of luxury. And those two iconic brands are branching out into selling travel to help attract new customers, writes Travel Experiences Reporter Selene Brophy.