Hyatt acquires Dream Hotel Group, including The Chatwal
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Hyatt has announced another acquisition as it attempts to bulk up and close the gap with the other big global chains.
Recent deals included Two Roads Hospitality in 2018 and Apple Leisure Group in 2021, as well as the 2022 arrangement with German group Lindner to absorb its hotels into the Hyatt ‘system’.
Hyatt is acquiring Dream Hotel Group for an initial $125 million – a relatively low price because there are minimal physical assets involved, just management and franchise contracts.
Dream consists of three brands:
- Dream Hotels
- The Chatwal Hotels
- Unscripted Hotels
If none of these ring a bell, it won’t be surprising. There are only 12 hotels in total and none are in Europe. Four are in New York.
The largest brand is Dream Hotels, a chain which is heavily driven by the dining and entertainment venues in the properties. All three brands will join Hyatt’s lifestyle group.
The most high profile is probably The Chatwal New York, one of the best regarded hotels in the city. It is currently part of Marriott’s Luxury Collection.
Dream also owns a small number of hotels under Hilton and Radisson brands, but these do not seem to be included in the transaction.
Whilst these hotels seem to be of a high quality, it is tricky to see how Hyatt can cope with yet more new brands. The Chatwal has just two sites and Unscripted Hotels and The Time brand have just one each. You might expect some consolidation but this would cause legal issues with the pipeline of 24 upcoming hotels.
The most intriguing part of the deal for me is the upcoming ‘Your Nature’ in Belgium. To quote:
Your Nature is a Belgian eco-friendly resort located on the French border in a 700-acre forest belonging to the Princes de Ligne.
Nestled among 700 hundred acres of preserved natural forestland which contains a river and six private lakes, Your Nature will take advantage of the land with 575 eco-lodges, multiple dining and nightlife concepts, and vast recreational facilities, including an expansive wellness center with full-service spa, Turkish bath, yoga and fitness center and multiple indoor and outdoor pools. A private airstrip with gliding classes and exclusive water ski school complete the visitor experience, which pays homage to the richness of the ecosystem.
Another interesting option is The Chatwal Lodge, pictured above:
Less than 2 hours drive, approximately 95 miles north of Manhattan, on the shores of Lake Toronto Reservoir, a serene outpost awaits: The Chatwal Lodge. Bearing The Chatwal brand’s legacy for details and set on the grounds of the historic Chapin Estate, this warm, thoughtfully designed lodge immerses guests in a rustic refined ambiance. From fly fishing to boating, fall foliage to the Bethel Woods Center for the Performing Arts, there are countless opportunities to unwind, explore and indulge.
The transaction has not yet legally completed and the hotels will take some time to join World of Hyatt. I wouldn’t expect to be able to make redemption bookings for potentially a year.
You can find out more on the Dreams Hotel Group website here.
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