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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 7996 news stories
06 Dec 2021
Industry figure Susan Friedland has been celebrated with the Global Wellness Summit’s (GWS) annual Leading Woman in Wellness Award. During a poignant ceremony, Mrs Friedland was recognised with the award for her support and dedication ... More
06 Dec 2021
The two-day World Halotherapy Symposium will go live tomorrow on 7 December to encourage the convergence of the halotherapy and wellness industries. The free virtual conference is hosted by industry body the World Halotherapy Association ... More
03 Dec 2021
Global hotel and spa operator Six Senses will open its first Japanese property in Kyoto in 2024. Six Senses Kyoto is being realised as an urban sanctuary in a city famed for its Buddhist temples, ... More
02 Dec 2021
Raffles Hotels and Resorts has opened a new resort in Dubai with a comprehensive 23-treatment-room spa to reflect the city’s lavish character. Offering panoramic sea views and vistas of Dubai’s iconic skyline, the 389-room resort ... More
01 Dec 2021
The Global Wellness Institute (GWI) and BBC Storyworks have struck up a partnership to create a digital film series exploring the true meaning of wellness. BBC Storyworks is the commercial creative arm of BBC Global ... More
01 Dec 2021
The global wellness economy will grow by 9.9 per cent annually and reach US$7trn by 2025, according to new research by the Global Wellness Institute (GWI). Named The Global Wellness Economy: Looking Beyond Covid, the ... More
30 Nov 2021
The recently-transformed Bamford Wellness Spa in Gloucestershire has been recognised as the UK’s Best New Spa at the sixth annual Good Spa Guide Awards ceremony. Decided by internal judging by The Good Spa Guide’s Spa ... More
29 Nov 2021
Georgia-based wellness community Serenbe is set to gain a brand new wellness community dedicated to play, said co-founder Steve Nygren, speaking to Spa Business. Named Spela – which means play in Swedish, the new community ... More
26 Nov 2021
Exercise has been found to increase levels of endocannabinoids – cannabis-like substances produced by the human body – which in turn helps reduce inflammation and could potentially treat conditions such as arthritis, cancer and heart ... More
26 Nov 2021
People suffering from mild depression should be offered exercise, mindfulness, therapy or meditation before medication, such as antidepressants. New draft guidance, published by the National Institute for Health and Care Excellence (NICE) recommends that a ... More
25 Nov 2021
The City of Madrid could become one of the healthiest in the world if plans by the council come to fruition. The local government has revealed plans to develop wellbeing infrastructure for the next generation, ... More
24 Nov 2021
A new trans-awareness course, certified by Habia, has been launched for the spa sector to help teach spa staff how to accommodate, attract and support transgender clients. Named Trans Awareness for Spas, the programme includes ... More
     
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Clean up your aesthetics rooms! Living Earth Crafts’ Parker Spa Trolley neatly houses a professional Silhouet-Tone steamer and a versatile Daylight Lamps full-spectrum mag lamp in the confines of its compact roll-top trolley. ... more
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14th annual Forum HOTel&SPA to be hosted in June 2022 to inform and inspire the industry
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Oakworks Inc
Oakworks Inc
Oakworks Inc
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Jobs    News   Products   Magazine
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 Hotels has acquired wellness resort provider Miraval Group for US$215m (€201m, £175m) Credit: Miraval
Hyatt will continue Miraval’s plans to redevelop the recently acquired 220-acre Travaasa Resort in Austin, Texas 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
Susan Friedland honoured with Leading Woman in Wellness award at 2021 Global Wellness Summit
Industry figure Susan Friedland has been celebrated with the Global Wellness Summit’s (GWS) annual Leading Woman in Wellness Award.
Tammy Pahel, Kathryn Moore and Anni Hood to headline World Halotherapy Symposium
The two-day World Halotherapy Symposium will go live tomorrow on 7 December to encourage the convergence of the halotherapy and wellness industries.
Six Senses to debut in Japan with Japanese Zen-inspired spa and bathing rituals
Global hotel and spa operator Six Senses will open its first Japanese property in Kyoto in 2024.
Raffles launches opulent five-star resort and Cinq Mondes spa on Dubai coastline
Raffles Hotels and Resorts has opened a new resort in Dubai with a comprehensive 23- treatment-room spa to reflect the city’s lavish character.
GWI partners with BBC for its new film series demystifying wellness
The Global Wellness Institute (GWI) and BBC Storyworks have struck up a partnership to create a digital film series exploring the true meaning of wellness.
Global wellness economy will be worth US$7trn by 2025
The global wellness economy will grow by 9.9 per cent annually and reach nearly US$7trn by 2025, according to new research by the Global Wellness Institute (GWI).
+ More news   
 
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07 Dec 2021

World Halotherapy Association Symposium

virtual event,
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Spatex 2022

Coventry Building Society Arena, Coventry, United Kingdom
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