by Michael J. Shapiro | January 18, 2017
Hyatt Hotels Corp. has acquired the wellness-focused Miraval Group from KSL Capital Partners. The deal includes the flagship 117-room Miraval Arizona Resort & Spa in Tucson, as well as the Miraval Life in Balance Spa brand, which opened its first location last year in Dana Point, Calif. Hyatt also will continue the company's plans to redevelop the recently acquired 70-room, 220-acre Travaasa Resort in Austin, Texas, and to acquire and redevelop the 105-room, 380-acre Cranwell Spa & Golf Resort in Lenox, Mass. 

"The Miraval acquisition reflects our commitment to super serving the high-end traveler and finding new ways to understand and care for them," said Mark Hoplamazian, Hyatt's president and CEO. "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. Importantly, the acquisition also extends the Hyatt brand into adjacent spaces beyond traditional hotel stays, which is core to Hyatt's global growth strategy."

Hyatt initially is investing $215 million for the Miraval brand and the resorts in Tucson and Austin. Over the next two to three years, the chain expects to spend an additional $160 million on the expansion of the Tucson resort, the redevelopment of the Austin property, and the acquisition and redevelopment of the Cranwell resort in Lenox. 

Miraval Group president and CEO Steven Rudnitsky and the existing leadership team will continue to lead Miraval, which will become a new wellness category under the Hyatt umbrella. Rudnitsky will report directly to Hoplamazian.