Hyatt will acquire Two Roads Hospitality for a base sum of US$480 million, plus up to $120 million in additional potential payouts. The deal is expected to close by the end of the year.
Hyatt Hotels Corporation has confirmed an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a collection of distinctive brands, properties and a robust development pipeline around the globe.
Hyatt will acquire Two Roads Hospitality for a base sum of US$480 million, plus up to $120 million in additional potential payouts. The deal is expected to close by the end of the year.
Two Roads' lifestyle-driven portfolio, which includes the Alila, Destination Hotels, Joie de Vivre, Thompson and Tommie brands, spans a total of 85 properties. The move extends Hyatt’s reach into 23 new markets while “ thanking its offerings in lifestyle hotel experiences and wellbeing", according to a company statement.
Upon completion of the deal, Hyatt will consolidate its lifestyle brands and the Two Roads stable into a new lifestyle division.
Two Roads' strong foothold in Asia will help "accelerate expansion in this critically important and fast-growing part of the world”, said Hyatt CEO Mark Hoplamazian. Headquartered in Singapore, Two Roads' Alila brand operates hotels throughout Indonesia, India, Malaysia, China, Cambodia and Oman.
Hyatt plans to integrate the Two Roads brands into its World of Hyatt loyalty programme next year.