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HYATT HOTELS CORP. plans to open more than 50 new luxury and lifestyle hotels globally within two years, with Europe projected to see a 52.8 percent increase in luxury hotel stock by 2028. Future openings include Park Hyatt Kuala Lumpur, Park Hyatt Johannesburg, Andaz Miami Beach and Andaz Gold Coast, Hyatt said in a statement. Hyatt, with 70 percent of its global rooms in luxury and upper-upscale categories, added 28 luxury hotels in the past three years and doubled its luxury room count since 2017, the statement said. "2024 has been a strong year for the Europe, Africa, and Middle East region, driven by luxury and lifestyle segments, as shown by the strong performance of our hotels and excitement around openings like Park Hyatt London River Thames and Park Hyatt Marrakech," said Javier Águila, Hyatt's group president, EAME. "Our future in these sought-after segments looks brighter than ever, thanks to recent acquisitions like Mr & Mrs Smith and Standard International, as well as our commitment to building dedicated teams and leveraging specialized talent to enhance our luxury and lifestyle offerings."

HYATT HOTELS CORP. is set to launch a lifestyle group following the acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotels. The new group would focus on developing future projects included in the acquisition. Amar Lalvani, former executive chairman of Standard International, will serve as president and creative director of the new group. It will be headquartered in New York City, with additional offices in Austin and Bangkok, Hyatt said in a statement. "The lifestyle segment isn't for the faint of heart; it takes creativity and commitment," said Lalvani. "But if you get it right, you reap the benefits of strong guest loyalty and developer returns. Hyatt respects the creativity needed to deliver our experiences, while we value Hyatt's history, global infrastructure, and commercial services."

HYATT HOTEL CORP. plans to acquire Dream Hotel Group's lifestyle hotel brands, including the Dream Hotels, The Chatwal Hotels and Unscripted Hotels brands, for approximately $300 million. The deal will add more than 1,700 rooms to Hyatt's lifestyle portfolio and increase Hyatt's room count in New York City by more than 30 percent. The acquisition includes a portfolio of 12 managed or franchised lifestyle hotels, with another 24 signed long-term management agreements for hotels expected to open in the future, Hyatt said in a statement on Nov. 29. The transaction, expected to close in the coming months, continues Hyatt's asset-light growth strategy following acquisitions of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021. Post-acquisition, Hyatt will pay a base purchase price of $125 million, with up to an additional $175 million over the next six years. It would generate management fees of about $12 million a year on the first dozen hotels.