{"id":4138,"date":"2022-12-01T06:44:40","date_gmt":"2022-12-01T06:44:40","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2022\/12\/01\/hyatt-acquires-dream-las-vegas-operator-in-global-mega-deal\/"},"modified":"2022-12-01T06:44:40","modified_gmt":"2022-12-01T06:44:40","slug":"hyatt-acquires-dream-las-vegas-operator-in-global-mega-deal","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2022\/12\/01\/hyatt-acquires-dream-las-vegas-operator-in-global-mega-deal\/","title":{"rendered":"Hyatt Acquires Dream Las Vegas Operator in Global Mega Deal"},"content":{"rendered":"
\n

Hyatt Hotel Corporation\u00a0 is taking over the operator of a hotel-casino under development on the Las Vegas Strip. This project is included in the deal that the industry giant and Dream Hotel Group announced whereby a Hyatt affiliate will purchase Dream Hotel Group\u2019s lifestyle hotel brand and management platform, which includes properties in some of the world\u2019s most renowned hotel markets in the Americas, Europe, and Asia.<\/p>\n

Dream Hotel Group facilities are recognized for their exciting dining and nightlife experiences, which include hotspot restaurants, extravagant entertainment venues, and exclusive nightclubs that are the result of strategic collaborations with creative and award-winning industry leaders. The acquisition will broaden Hyatt\u2019s brand presence in major cities like as Nashville, Hollywood, South Beach, Durham, multiple New York City sites, and one in the Catskills. Contracts signed reflect new important destinations such as Las Vegas, Saint Lucia, and Doha.<\/p>\n

This asset-light purchase will feature a portfolio of 12 managed or franchised lifestyle hotels, as well as another 24 signed long-term management agreements for hotels that will operate in the future. This development will add approximately 1,700 rooms to Hyatt\u2019s lifestyle portfolio and boost Hyatt\u2019s room count in New York City by more than 30% when it is completed.<\/p>\n

Following the acquisitions of Two Roads Hospitality in 2018 and Apple Leisure Group in 2021 \u2013 and, most recently, Hyatt\u2019s collaborative agreement with German Lindner Hotels AG \u2013 this purchase maintains Hyatt\u2019s asset-light expansion strategy.<\/p>\n

Hyatt will pay a base acquisition price of $125 million at closing, with an additional $175 million available over the next six years as projects enter the pipeline and open. Stabilized management costs connected with the initial purchase price of $125 million are expected to be around $12 million, with additional stabilized management fees of up to $27 million if the contingent purchase price of $175 million is paid.<\/p>\n

\n
<\/amp-img><\/a><\/div>\n<\/p><\/div>\n

On predicted stable profits, the entire base purchase price plus the contingent purchase price implies an appealing acquisition multiple in the high single digits.<\/p>\n

Subject to normal closing conditions, the deal is expected to conclude in the following months.<\/p>\n

The post Hyatt Acquires Dream Las Vegas Operator in Global Mega Deal<\/a> appeared first on iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hyatt Hotel Corporation\u00a0 is taking over the operator of a hotel-casino under development on the Las Vegas Strip. This project is included in the deal that the industry giant and Dream Hotel Group announced whereby a Hyatt affiliate will purchase Dream Hotel Group\u2019s lifestyle hotel brand and management platform, which includes properties in some of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4138","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=4138"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4138\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=4138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=4138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=4138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}