Update 4/24/24: Unfortunately Hyatt is using dynamic award pricing for these hotels rather than a fixed award chart. This means when booking an award room the price you pay is tied to the cash price of that room. You seem to get anywhere from 0.96¢ to 1.4¢ per point. Kind of kills this acquisition for me.
Update 11/1/23: Integration has started, you can now redeem for gift cards at a rate of 1.2¢ per point.
Hyatt has announced plans to acquire luxury hotel brand Mr & Mrs Smith for £53.0 million in cash consideration (~$66.62 million). Mr & Mrs Smith has over 1,500 boutique and luxury properties and is described as ‘asset light’ (e.g they don’t own the properties). Previously IHG had partnered with Mr & Mrs Smith.