In an interesting development, Hyatt has announced the acquisition of Mr and Mrs Smith platform for a cash consideration of £53.0 million.
This move is expected to bolster Hyatt’s Commercial Services team with over 100 new colleagues, including Tamara Lohan as CEO and James Lohan as chief creative officer of Mr and Mrs Smith.
It’s all about the loyalty program
Interestingly, Mr and Mrs Smith is not in the business of owning or operating hotels or resorts; rather, it provides a platform to book curated hotels.
Mr and Mrs Smith portfolio consists of 1,500 boutique and luxury properties.
This acquisition helps enhance Hyatt’s loyalty program – World of Hyatt – which currently lags behind its competitors Marriott Bonvoy and IHG One Rewards due to its limited presence.
Even though this may be an easier way to expand the loyalty program, it is impossible to maintain a uniform service experience for members across owned, managed, and booked via Hyatt hotels.
It would be interesting to see how it goes. Having said that, it’s always good to have more options to choose from.
Current partnership with IHG to end
Mr and Mrs Smith hotels can be booked through the IHG One Rewards platform, as of now. Customers can earn and redeem their IHG rewards points while booking Mr and Mrs Smith hotels. However, all elite status benefits may not be available at all properties.
This partnership should end once the acquisition is complete. Or may be even before that.
Hyatt’s acquisition of Mr and Mrs Smith is anticipated to close in the second quarter of 2023.