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Breaking: Hyatt acquires Miraval
By Jane Kitchen 18 Jan 2017
Steven Rudnitsky, president and CEO of Miraval Group, will continue to drive the brand’s strategy
In a move that illustrates the explosive growth of wellness tourism, Hyatt Hotels has acquired wellness resort provider Miraval Group for US$215m (€201m, £175m) from an affiliate of KSL Capital Partners.

"Miraval will spearhead a stand-alone wellness category within Hyatt’s portfolio of brands, and as a best-in-class brand in the wellness space, will apply its expertise to Hyatt’s portfolio," Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation told Spa Opportunities.

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 recently acquired 220-acre Travaasa Resort in Austin, Texas and pursue the acquisition and redevelopment of the 380-acre Cranwell Spa & Golf Resort in Lenox, Massachusetts, with plans to invest a further US$160m (€150m, £130m) over the next two to three years on those projects and an expansion of Miraval Tucson.

“The Miraval acquisition reflects our commitment to super serving the high-end traveller and finding new ways to understand and care for them,” said Hoplamazian. “We know that wellness is an area that is becoming increasingly important to our guests and we share Miraval’s belief that wellness is more than fitness and nutrition – it’s a lifestyle.

"Adding Miraval to the Hyatt family creates a great opportunity to advance the Miraval brand expansion while building a greater depth of expertise in wellness and mindfulness.”

Steven Rudnitsky, president and CEO of Miraval Group, will continue to drive the brand’s strategy, reporting to Hoplamazian and working with the existing Miraval leadership team and associates.

“This transaction will unlock Miraval’s full potential by joining us with one of the foremost global hospitality companies fully committed to wellness,” said Rudnitsky.

Rudnitsky had previously said he expected to see up to seven Miraval resorts developed in the next five years; Hoplamazian said he also sees opportunities to continue the brand expansion through additional resorts.

But Hoplamazian said importantly, the acquisition also extends the Hyatt brand into adjacent spaces beyond traditional hotel stays, which is core to the company’s global growth strategy.

“We recognise the business opportunity within the US$420bn wellness-tourism category and understand the rising demand for wellness offerings among our targeted high-end travellers,” he said.


News
1 to 12 of 8703 news stories
24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
15 Apr 2024
Six Senses has announced the grand opening of its first-ever property and spa in the Caribbean, called Six Senses La Sagesse. With a picturesque beachfront setting and surrounded by verdant hills, Six Senses La Sagesse ... More
12 Apr 2024
A brand new desert hot springs oasis, called Zion Canyon Hot Springs, is set to open in Southern Utah in Q3 of 2025. Situated 30 minutes from the majestic Zion National Park, the US$60 million ... More
     
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NEWS
Breaking: Hyatt acquires Miraval
POSTED 18 Jan 2017 . BY Jane Kitchen
Steven Rudnitsky, president and CEO of Miraval Group, will continue to drive the brand’s strategy
This transaction will unlock Miraval’s full potential by joining us with one of the foremost global hospitality companies fully committed to wellness
– Steven Rudnitsky, president and CEO of Miraval Group
In a move that illustrates the explosive growth of wellness tourism, Hyatt Hotels has acquired wellness resort provider Miraval Group for US$215m (€201m, £175m) from an affiliate of KSL Capital Partners.

"Miraval will spearhead a stand-alone wellness category within Hyatt’s portfolio of brands, and as a best-in-class brand in the wellness space, will apply its expertise to Hyatt’s portfolio," Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation told Spa Opportunities.

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 recently acquired 220-acre Travaasa Resort in Austin, Texas and pursue the acquisition and redevelopment of the 380-acre Cranwell Spa & Golf Resort in Lenox, Massachusetts, with plans to invest a further US$160m (€150m, £130m) over the next two to three years on those projects and an expansion of Miraval Tucson.

“The Miraval acquisition reflects our commitment to super serving the high-end traveller and finding new ways to understand and care for them,” said Hoplamazian. “We know that wellness is an area that is becoming increasingly important to our guests and we share Miraval’s belief that wellness is more than fitness and nutrition – it’s a lifestyle.

"Adding Miraval to the Hyatt family creates a great opportunity to advance the Miraval brand expansion while building a greater depth of expertise in wellness and mindfulness.”

Steven Rudnitsky, president and CEO of Miraval Group, will continue to drive the brand’s strategy, reporting to Hoplamazian and working with the existing Miraval leadership team and associates.

“This transaction will unlock Miraval’s full potential by joining us with one of the foremost global hospitality companies fully committed to wellness,” said Rudnitsky.

Rudnitsky had previously said he expected to see up to seven Miraval resorts developed in the next five years; Hoplamazian said he also sees opportunities to continue the brand expansion through additional resorts.

But Hoplamazian said importantly, the acquisition also extends the Hyatt brand into adjacent spaces beyond traditional hotel stays, which is core to the company’s global growth strategy.

“We recognise the business opportunity within the US$420bn wellness-tourism category and understand the rising demand for wellness offerings among our targeted high-end travellers,” he said.
Hyatt will continue Miraval’s plans to redevelop the recently acquired 220-acre Travaasa Resort in Austin, Texas Credit: Miraval
Hyatt Hotels has acquired wellness resort provider Miraval Group for US$215m (€201m, £175m) Credit: Miraval
RELATED STORIES
Breaking: Miraval Group to develop destination wellness resort in Texas


Wellness resort operator Miraval Group today announced it has acquired the 220-acre Travaasa Austin Resort in the Hill Country of Texas, which it will redevelop and expand into a 120-bedroom destination wellness resort, its first in Texas and the South.
Carl Pratt named VP and GM of Miraval


Hotel, resort and wellness consultant Carl Pratt has joined Miraval as vice president and general manager of the brand’s destination spa in Tucson, Arizona.
Miraval Group appoints three executives to lead operations and development


Miraval Group has appointed three key executives to lead the operation and growth of its destination wellness resorts and Miraval Life in Balance Spas.
Exclusive: Miraval to buy historic Cranwell Resort in Lenox – once home to Harriet Beecher Stowe – for first East Coast resort


Destination spa Miraval is set to buy the historic Cranwell Spa and Golf Resort in Lenox, Massachusetts, marking the brand’s first East Coast location and the first “full-blown” Miraval outside of Tucson.
MORE NEWS
US spa industry hits record-breaking US$21.3 billion in revenue in 2023
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022.
Immediate rewards can motivate people to exercise, finds new research
Short-term incentives for exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity according to new research.
Shannon Malave appointed spa director at Mohonk Mountain House
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House.
Six Senses unveils urban wellness retreat in Kyoto inspired by Japanese Zen culture
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection.
US named world’s largest wellness economy, reaching US$1.8 trillion valuation
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion.
Galgorm Resort gears up to host UK Aufguss Championships next week
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships.
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