Briefs: Hyatt completes Dream Hotel acquisition; Baccarat hotel residences in Dubai

HYATT COMPLETES DREAM HOTEL ACQUISITION: Hyatt Hotels Corp. has completed the acquisition of Dream Hotel Group, adding lifestyle brands, including Dream Hotels, The Chatwal and Unscripted Hotels, to its portfolio. The asset-light acquisition comprises 12 lifestyle hotels (of which nine are managed and three licensed) and an additional 24 signed long-term management agreements for hotels scheduled to open soon. Dream Hotels will join as a brand within Hyatt’s Boundless Collection. The Chatwal and Unscripted Hotels brands will join Hyatt’s Independent Collection, becoming a part of The Unbound Collection by Hyatt and JdV by Hyatt brands, respectively. The acquisition adds 600 new staff members to Hyatt and grows the company’s presence in key global destinations; it also adds new markets, like the Catskills in New York and Valle de Guadalupe in Mexico. Sant Singh Chatwal, founder of Dream Hotel Group, will continue as the owner of four open and two future hotels, which will join the Hyatt portfolio. 

BACCARAT HOTEL RESIDENCES IN DUBAI: SH Hotels & Resorts, a Starwood Capital Group affiliate, has announced the opening of Baccarat Hotel & Residences Dubai in 2026 as part of a new luxury missed-use project in Downtown Dubai facing the Burj Khalifa. The hotel and full-service branded residences will be housed in twin towers designed by Studio Libeskind and managed by a newly formed regional team in London affiliated with SH Hotels & Resorts. The hotel will have 144 rooms, one-third of which will be suites, and 49 Baccarat-branded private residences designed by London-based 1508. There will also be a formal dining room, private dining rooms, a poolside bar, and a Grand Salon on the property. Shamal Holding will own and develop the Baccarat Hotel Dubai. 

DIPLOMAT BEACH RESORT SELLS: Brookfield Properties has sold Diplomat Beach Resort, the 1,000-room beachfront property in Hollywood, Fla., to a joint venture between Credit Suisse Asset Management and Trinity Fund Advisors LLC. The terms of the deal were not disclosed. The new owners have signed a management agreement with Hilton Hotels and Resorts for the resort’s operation under the Curio Collection by the Hilton brand. The hotel was renovated and repositioned through a comprehensive $90 million capital plan in 2018. The property includes 200,000 square feet of events space, a twin-spired 33-story tower housing the rooms, a 14,000-square-foot spa, eight restaurants and bars and several pools. The hotel’s sale marks the third largest single-asset hotel sale ever in the U.S., JLL said in a statement. JLL represented the seller.   

TRIBE’S TENTH HOTEL:  On January 30, TRIBE, a subsidiary of Ennismore, opened its tenth hotel, TRIBE Paris Saint-Ouen, in Paris. The boutique hotel, which has 112 rooms, was created in collaboration with the French hotel group Suitcase Hospitality. Rooftop terraces are available in rooms on the top floor. In addition, the hotel has a restaurant and The Social Hub, a communal area that combines coworking space, a café, and a cocktail bar. To contribute to sustainable tourism, the hotel is in the process of obtaining Green Key International 2023 certification. Maison Malapert created the hotel’s design. 

NEW OWNER FOR HAMILTON-TURNER INN: Hamilton-Turner Inn, the luxury, 17-key property in Savannah, Ga., has sold. Hodges Ward Elliot, a boutique real estate capital advisor, arranged the sale. No other details of the purchase were disclosed. Constructed in the late 1800s, the property was converted into a luxury inn in 1997. The inn has a dining room that can serve up to 20 people. The seller made capital improvements to enhance the property’s rooms and interiors.