Hyatt said it will spend $100 million this year opening its
Miraval wellness resort in Austin, Texas, and preparing for next year's opening
of a Miraval resort in Lenox, Mass.
Hyatt, which detailed its plans on its fourth-quarter earnings
call Thursday, said the Austin resort would open by the end of the year, while
the property in western Massachusetts would open in June 2019. A Miraval Life and Balance
Spa is part of the Park Hyatt St. Kitts, which opened in November.
"We see wellness and mindfulness as an opportunity to
fulfill our purpose to care for people, so they can be their best," Hyatt
CEO Mark Hoplamazian said on the call. "Our investment in the Miraval
brand provides an exceptional and highly desired offering, specifically focused
in this space."
Hyatt in December 2016 acquired the Travaasa Austin, for the
purpose of redeveloping the 220-acre property into the Miraval Austin. The
following month, Hyatt acquired the Miraval brand outright from KSL Capital
Partners for $215 million.
Once the Massachusetts property is completed, Hyatt will
oversee three Miraval resorts and two spas located within other resorts. The
first Miraval, the 117-room Miraval Arizona Resort & Spa, opened in 1995. Southern
California's Monarch Beach Resort added a Miraval spa in 2016.