Hyatt Acquires Dream Hotel Group's Business for $300M
Ticker: H · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1468174
Sentiment: bullish
Topics: acquisition, expansion, definitive-agreement
TL;DR
Hyatt just bought Dream Hotel Group's biz for $300M to boost its lifestyle offerings.
AI Summary
On June 17, 2024, Hyatt Hotels Corporation entered into a Material Definitive Agreement related to its acquisition of Dream Hotel Group's management and franchise business for $300 million. This strategic move is expected to significantly expand Hyatt's lifestyle portfolio.
Why It Matters
This acquisition allows Hyatt to significantly grow its presence in the lifestyle hotel segment, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — The acquisition involves a significant financial outlay and integration risks, which could impact Hyatt's financial performance if not managed effectively.
Key Numbers
- $300 million — Acquisition Price (Hyatt's purchase of Dream Hotel Group's management and franchise business.)
Key Players & Entities
- Hyatt Hotels Corporation (company) — Registrant
- Dream Hotel Group (company) — Acquired business
- $300 million (dollar_amount) — Acquisition price
- June 17, 2024 (date) — Agreement date
FAQ
What is the primary purpose of the Material Definitive Agreement filed by Hyatt Hotels Corporation?
The agreement concerns the acquisition of Dream Hotel Group's management and franchise business.
What was the financial value of the transaction?
The acquisition price was $300 million.
When was this agreement entered into?
The agreement was entered into on June 17, 2024.
Which business segment is Hyatt Hotels Corporation looking to expand with this acquisition?
Hyatt is expanding its lifestyle portfolio.
What is the IRS Employer Identification Number for Hyatt Hotels Corporation?
The IRS Employer Identification Number is 20-1480589.
Filing Stats: 1,448 words · 6 min read · ~5 pages · Grade level 9.9 · Accepted 2024-06-17 16:45:31
Key Financial Figures
- $0.01 — which registered Class A common stock, $0.01 par value H New York Stock Exchange
- $450,000,000 — ation (the " Company ") issued and sold $450,000,000 of its 5.250% Senior Notes due 2029 (th
- $350,000,000 — Notes due 2029 (the " 2029 Notes ") and $350,000,000 of its 5.500% Senior Notes due 2034 (th
- $787.5 m — eeds from the Offering of approximately $787.5 million, after deducting underwriters' di
Filing Documents
- d779960d8k.htm (8-K) — 36KB
- d779960dex11.htm (EX-1.1) — 195KB
- d779960dex41.htm (EX-4.1) — 189KB
- d779960dex51.htm (EX-5.1) — 18KB
- g779960g0614100213943.jpg (GRAPHIC) — 2KB
- g779960g0614100215912.jpg (GRAPHIC) — 2KB
- 0001193125-24-162660.txt ( ) — 657KB
- h-20240617.xsd (EX-101.SCH) — 3KB
- h-20240617_lab.xml (EX-101.LAB) — 17KB
- h-20240617_pre.xml (EX-101.PRE) — 11KB
- d779960d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Document Description 1.1 Underwriting Agreement, dated as of June 3, 2024, by and among the Company and BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc., as representatives of the several underwriters named therein. 4.1 First Supplemental Indenture, dated as of June 17, 2024, between the Company and Computershare Trust Company, N.A., as trustee. 4.2 Form of 5.250% Senior Note due 2029 (included in Exhibit 4.1). 4.3 Form of 5.500% Senior Note due 2034 (included in Exhibit 4.1). 5.1 Opinion of Latham & Watkins LLP, dated June 17, 2024. 23.1 Consent of Latham & Watkins LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Hyatt Hotels Corporation Date: June 17, 2024 By: /s/ Joan Bottarini Name: Joan Bottarini Title: Executive Vice President, Chief Financial Officer