Hyatt acquired Dream Hotel Group<\/a>, providing a boost to the company\u2019s New York City presence as well as the broader lifestyle hotel sector.<\/p>\nThe Mr & Mrs Smith deal adds to that theme, but it brings in a mix of much smaller hotels than is typically expected with major brand and loyalty affiliation. But these also play into Hyatt\u2019s game of pricey luxe hotels: The typical nightly rate of a Mr & Mrs Smith hotel is in the mid-$400 range, Hoplamazian said.<\/p>\n
\u201cThey\u2019re small, so these are not hotels that would naturally be part of a larger brand company like our portfolio, and we feel like this is a massive expansion in the World of Hyatt members\u2019 access to hotels,\u201d he added.<\/p>\n
Our eyes will be focused on how easy it is to integrate all those hotels at a level where members can earn and redeem points on a widescale basis.<\/p>\n
<\/p>\n
Hyatt\u2019s business travel comeback<\/h2>\n
It was a strong quarter for Hyatt, as the company posted a $58 million profit. Part of that stems from the broader hotel industry\u2019s recovery from the pandemic \u2014 riding on strong leisure demand and high hotel rates.<\/p>\n
The company\u2019s overall hotel performance in March was 8% ahead of 2019 levels and set an all-time record in the company\u2019s history, according to Joan Bottarini, Hyatt\u2019s chief financial officer.<\/p>\n
Expect higher hotel rates to maintain and even grow, as Hyatt leaders were the latest in the industry to say they anticipate better-than-expected results for the duration of 2023.<\/p>\n
The recovery in Asia Pacific, as well as increasing group and business travel demand, provide that optimism.<\/p>\n
<\/p>\n
Hyatt\u2019s all-inclusive plans go global<\/h2>\n
Hyatt\u2019s Apple Leisure takeover provided a major lift for the company\u2019s presence in the all-inclusive resort sector as well as in Europe. Hyatt\u2019s Europe footprint expanded by 60% thanks to the deal. But it now has its eyes set on taking Apple Leisure brands, which include offerings like Secrets and Dreams, farther abroad.<\/p>\n
\u201cWe have been responding to and pursuing additional regions in the Middle East and in Asia, so I would be surprised if we did not end up with new projects in those two regions in short order because the interest level is very high,\u201d Hoplamazian said.<\/p>\n
While Hyatt has a significant presence in both regions with its traditional hotel brands, it doesn\u2019t currently operate any all-inclusive brands in these parts of the world.<\/p>\n
\u201cIt would be a relatively new format for much of those regions, so we’re taking it very carefully,\u201d Hoplamazian added.<\/p>\n
Related reading:<\/b><\/p>\n<\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Hyatt\u2019s grip on luxury and lifestyle hotels expanded last week with news the Chicago-based hotel giant plans to acquire the Mr & Mrs Smith booking platform of more than 1,500 luxury boutique hotels. But that doesn\u2019t mean the company is going to do any better than a major competitor it\u2019s snatching the brand from. At […]<\/p>\n","protected":false},"author":1,"featured_media":16658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-16657","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-travel"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/16657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=16657"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/16657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/16658"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=16657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=16657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=16657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}