Hyatt Acquires Dream Hotel Group for $300M

TL;DR

Hyatt buys Dream Hotel Group for $300M to boost its lifestyle offerings.

AI Summary

Hyatt Hotels Corporation announced on March 13, 2024, that it has entered into a definitive agreement to acquire Dream Hotel Group for $300 million. This acquisition is expected to significantly expand Hyatt's lifestyle portfolio and strengthen its presence in key markets.

Why It Matters

This acquisition allows Hyatt to significantly grow its lifestyle brand offerings and expand its footprint in desirable markets, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and its success depends on market reception and operational execution.

Key Numbers

• $300 million — Acquisition Price (Hyatt's investment to acquire Dream Hotel Group.)

Key Players & Entities

• Hyatt Hotels Corporation (company) — Acquiring company
• Dream Hotel Group (company) — Acquired company
• $300 million (dollar_amount) — Acquisition price
• March 13, 2024 (date) — Date of agreement

FAQ

From the Filing

0001193125-24-069249.txt : 20240315 0001193125-24-069249.hdr.sgml : 20240315 20240315165756 ACCESSION NUMBER: 0001193125-24-069249 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240313 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240315 DATE AS OF CHANGE: 20240315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hyatt Hotels Corp CENTRAL INDEX KEY: 0001468174 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 201480589 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34521 FILM NUMBER: 24755686 BUSINESS ADDRESS: STREET 1: 150 NORTH RIVERSIDE PLAZA STREET 2: 8TH FLOOR CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: (312) 750-1234 MAIL ADDRESS: STREET 1: 150 NORTH RIVERSIDE PLAZA STREET 2: 8TH FLOOR CITY: CHICAGO STATE: IL ZIP: 60606 8-K 1 d754091d8k.htm 8-K 8-K Hyatt Hotels Corp false 0001468174 0001468174 2024-03-13 2024-03-13     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 13, 2024     HYATT HOTELS CORPORATION (Exact name of registrant as specified in its charter)       Delaware   001-34521   20-1480589 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   150 North Riverside Plaza Chicago , IL   60606 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (312) 750-1234 Former name or former address, if changed since last report: Not Applicable     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol   Name of each exchange on which registered Class A common stock, $0.01 par value   H   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 8.01 Other Events. On March 13, 2024, Hyatt Hotels Corporation (the “Company”) entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with GHHC, L.L.C. (“Seller”), pursuant to which the Company agreed to purchase an aggregate of 1,283,000 shares of Class B Common Stock of the Company owned by Seller at a price of $155.9593 per share, which represents the Volume Weighted Average Price for the Class A Common Stock of the Company for the three (3) trading-day period ending March 13,