Hyatt Hotels Corp. has acquired New York
City-based wellness resort and spa company Miraval Group for $215 million.
Hyatt gains the Miraval brand and its two properties: the flagship Miraval
Arizona Resort & Spa in Tucson and the recently acquired Travaasa resort in
Austin. Hyatt will invest an additional $160 million within the next three
years to acquire and redevelop the Cranwell Spa & Golf Resort in Lenox,
Mass., expand the Tucson property and redevelop the Austin property. Hyatt CEO Mark
Hoplamazian said the acquisition "extends the Hyatt brand into adjacent
spaces beyond traditional hotel stays." The Miraval brand will form a wellness
category within Hyatt's portfolio and serve as a separate business unit helmed
by Miraval president and CEO Steven Rudnitsky, who will report to Hoplamazian.