Hyatt Hotels Corporation has settled an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a unique collection of distinctive brands, properties and a robust pipeline.
With the acquisition of Two Roads, Hyatt will expand its brand into 23 new markets, while simultaneously advancing its offerings in lifestyle hotel experiences and wellbeing. Two Roads will elevate Hyatt’s portfolio with its distinctive collection of lifestyle hotels, resorts and vacation residences.
“Hyatt and Two Roads share a commitment to genuine care and delivering distinctive experiences to discerning travellers,” commented president and CEO, Hyatt Hotels Corporation, Mark Hoplamazian.
“We are pleased to be coming together and are dedicated to learning from each other and taking the best of both organisations forward. Combining Two Roads’ meaningful brand presence and development plans in Asia with Hyatt’s already strong position in this region will allow us to accelerate expansion in this critically important and fast-growing part of the world.”
The acquisition consists of a base purchase price of $480 million, with the potential for Hyatt to invest up to an additional $120 million in the aggregate, contingent on the outcome of certain terms to be individually defined after closing.
Following the close of the transaction, which is expected later this year, Hyatt will create a dedicated lifestyle division as a catalyst to bring together the operations of Two Roads’ and Hyatt’s lifestyle brands.