CHICAGO, Ill. — Hyatt Hotels Corporation has acquired Miraval Group, a U.S.-based wellness resort and spa company. Miraval’s flagship property in Tucson, Ariz. has been considered one of the North America’s leading wellness resorts for over 20 years.
“The Miraval acquisition reflects our commitment to super serving the high-end traveler and finding new ways to understand and care for them,” says Mark Hoplamazian, president and CEO, Hyatt Hotels Corporation. “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.”
The acquisition includes an initial investment of $215 million for the Miraval brand and the resorts in Tucson and Austin. Hyatt expects to invest an additional $160 million over the next two to three years to fund the expansion of the brand’s Tucson resort, the redevelopment of its resort in Austin, Texas, and the acquisition and redevelopment of the 380-acre Cranwell Spa & Golf Resort in Lenox, Mass.
Miraval will form a distinct new wellness category within the Hyatt portfolio of brands. Steven Rudnitsky, president and CEO of Miraval Group, will continue to drive the brand’s growth strategy, reporting to Hoplamazian and working with the existing Miraval leadership team and associates.