Hyatt Hotels has announced plans to expand its lifestyle portfolio by over 1700 rooms with the acquisition of Dream Hotel Group.

The agreement, announced on Tuesday, will see an affiliate of Hyatt acquire Dream Hotel Group’s lifestyle hotel brand and management platform including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands.

The deal includes a portfolio of 12 managed or franchised lifestyle hotels, as well as 24 signed long-term management agreements for hotels that are expected to open in the future.

Hyatt will pay a base purchase price of US$125 million on closing – which is expected in the coming months – with up to an additional $175 million over the next six years as properties come into the pipeline and open.

Dream Hotel Downtown NYC

Hyatt President and Chief Executive Officer, Mark Hoplamazian, said he looks forward to growing the brands into the future.

 “We have tremendous respect for what Dream Hotel Group founder Sant Singh Chatwal and Chief Executive Officer Jay Stein and their team have created and are grateful for the trust being placed in us by Dream Hotel Group to care for their brands and carry their success forward into the future,” he said.

“We look forward to continuing our growth journey with more than 600 new Hyatt family members who will further elevate our lifestyle expertise and expand the success of our dedicated lifestyle division.

“We are excited to offer even more inspiring experiences and celebratory programming to our guests and loyalty members and bring the value of the Hyatt network to a growing number of discerning hotel owners and developers around the world.”

Hyatt said the latest acquisition is in line with its asset-light growth strategy following its transactions to acquire Two Roads Hospitality in 2018, Apple Leisure Group in 2021, and, most recently, its collaboration with German Lindner Hotels AG, to grow Hyatt’s footprint in Europe. 

Dream Hotel Nashville

Dream Hotel Group is known for vibrant dining and nightlife experiences, lavish entertainment venues and exclusive night clubs. It has properties in prominent hotel markets across the Americas, Europe and Asia, and will increase Hyatt’s room count in New York City alone by more than 30%.

Dream Hotel Group Chairman and Founder, Sant Singh Chatwal, said Hyatt is the best company to grow the group’s brands.

“Hyatt has a proven track record of preserving what makes lifestyle hotels special and is the ideal new home for our growing Dream Hotel Group brands,” he said.

“As an owner of Dream Hotel Group properties, I look forward to the next part of our journey and am confident there is a bright future ahead for our hotels, owners, guests and team members as part of the Hyatt family.”  

The founder will continue as an owner of four open and two future hotels while CEO Jay Stein will join Hyatt as Head of Dream Hotels. Dream Hotel Group’s Chief Development Officer David Kuperberg will join Hyatt as Head of Development – Dream Hotels, while Chief Operating Officer Michael Lindenbaum will take up the position of Global Head of Operations – Dream Hotels.