Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
ASX Proposes New Share Dilution Limits for Public Takeovers 
Anthropic Restricts Global Access to AI Models After U.S. Security Review 
Gold Holds Gains as Oil Prices Retreat and Fed Decision Looms 
North Korea Reports Industrial Output at 105% of Target Following Party Congress 
US-Iran Ceasefire Deal Extends Peace Talks and Eases Oil Trade Restrictions 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
Asian Currencies Steady as BOJ Raises Rates and Markets Await Fed Decision 
Elon Musk Becomes World's First Trillionaire After SpaceX IPO Surge 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
ByteDance Eyes Iluvatar, Baidu AI Chips Amid China’s AI Push 
UK Banks Report Surge in APP Fraud Losses as Pressure Mounts on Meta and Tech Platforms 
Asian Markets Mixed Ahead of Key Central Bank Decisions 
Roku Explores Sale Options as Interest Grows in Streaming and Ad Business 
SpaceX Surpasses Amazon in Market Value as Post-IPO Rally Accelerates 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Hyatt Hotels Corporation is acquiring Dream Hotel Group’s lifestyle hotel brands and management platform. This will add the latter’s Dream Hotels, Unscripted Hotels, and Chatwal Hotels to the Illinois-headquartered hospitality company’s portfolio.
The said brands and platforms also have properties in Asia, Europe and the Americas, and this acquisition will grow Hyatt Hotel’s portfolio with the inclusion of 12 more hotels and another 24 properties that are expected to be launched in the future.
Once the deal between Hyatt and Dream Hotel Group is completed, the company will expand through the addition of 1,700 rooms to its lifestyle hotel brands. It will also raise the number of rooms in Hyatt’s New York City locations by more than 30%.
The deal is worth up to $300 million, with Hyatt paying the base acquisition price of $125 million upon closing. It will also pay $175 million in the next six years as the properties gradually open for service.
Likewise, there are also management fees to pay that are associated with the base purchase price, which could be around $12 million per year, and it could increase up to $27 million per year as more properties are launched.
Hyatt and Dreams Hotel expect to close the deal in the coming months and is still subject to customary closing conditions. When completed, members of the World of Hyatt loyalty program will enjoy various perks and take advantage of what the new properties offer.
“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,” Hyatt’s president and chief executive officer, Mark Hoplamazian, said in a press release. “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.”
The CEO added, “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.”
