Hyatt Aims To Attract Millennials With This Boutique Fitness Brand
Hyatt Hotels & Resorts is acquiring its second boutique fitness and spa brand for an undisclosed amount.
Its most recent deal is with Exhale Spa, which offers barre, yoga and HIIT classes in addition to a variety of spa therapy services. The company operates 29 boutiques in 11 markets across the country.
Hyatt's first fitness and spa acquisition took place in January when the hotel chain purchased wellness resort and spa company Miraval Group for $215M.
According to Fortune, Exhale is an attractive brand for Hyatt because it does not have any set space requirements and aids the hotelier in achieving its vision of engaging with visitors in a way that goes above and beyond the traditional experience of staying in a hotel.
Both deals are part of Hyatt’s strategy to invest in alternate luxury accommodations, including food and beverage, fitness and wellness. The desire for fitness boutiques has exploded in recent years, with the industry valued at more than $6B in 2015. That number is expected to double by 2020, the Wall Street Journal reports.
In recent years, office, multifamily and retail buildings have all begun to jump on the boutique fitness surge, recognizing the growing desire for easily accessible specialty fitness in today’s marketplace.