In what promises to be a game-changing move in the wellness hospitality industry, Hyatt Hotels acquired wellness resort provider Miraval Group earlier this year for US$215m (€201m, £175m).
The deal includes Miraval’s flagship property in Tucson, Arizona, as well as the Miraval Life in Balance Spa brand. Hyatt will also continue Miraval’s plans to redevelop the 220-acre (89-hectare) Travaasa Resort in Austin, Texas – being rebranded as Miraval Austin – and the 380-acre (154-hectare) Cranwell Spa & Golf Resort in Lenox, Massachusetts – now known as Miraval Lenox.
The move is a stealthy one in the wake of the mega-mergers of global hotel brands of the past few years, when US hospitality brand Marriott bought rival Starwood, and Paris-based AccorHotels Group acquired FRHI. While Hyatt’s purchase in no way rivals Marriott’s or Accor’s – those deals were worth US$12.2bn and $2.7bn, respectively – it does allow Hyatt to position itself as a leader in lifestyle wellness, something it knows is increasingly important to its high-end travellers.
For Miraval, which has been looking at expanding its brand for several years, having the backing of a global hospitality name may mean a quicker path in that direction. That said, Hyatt leadership has stressed the importance of not rushing to ‘commoditise’ the Miraval brand, and the need to stay true to the core of what sets it apart.
We talk to the people behind the two companies to find out what this new acquisition means for both brands, how Hyatt might grow Miraval, and how the Miraval experience might fit into Hyatt’s bigger wellness picture.
|
|
|
