Hyatt Hotels Corporation is continuing its acquisition streak, this time by adding Two Roads Hospitality, an international lifestyle hotel management company responsible for notable brands like Alila, Destination, and Joie de Vivre, to its ever-expanding portfolio of brands. Through the acquisition, Hyatt will expand its brand presence into 23 new markets while enhancing its offerings in lifestyle hotel experiences and wellbeing. After the close of the transaction, which is expected by the end of 2018, Hyatt will launch a dedicated lifestyle division that will bring together the operations of Two Roads’ and Hyatt’s lifestyle brands.
“Hyatt is an ideal home for us as we share many values and a deep commitment to thoughtful growth and creating compelling experiences for our guests,” says Jamie Sabatier, CEO of Two Roads Hospitality. “Hyatt’s unique position in the marketplace brings with it the powerful benefit of global scale while maintaining meaningful personal relationships with team members, guests and owners.”
Hyatt will also assume management of the other properties in the portfolio of Two Roads' parent company Geolo Capital, including Carmel Valley Ranch, Ventana Big Sur, The Chicago Athletic Association Hotel, Thompson Seattle, and The Beekman, A Thompson Hotel. The acquisition consists of a base purchase of $480 million, with the potential for Hyatt to invest up to an additional $120 million in the aggregate. Hyatt plans on integrating Two Roads brands into its World of Hyatt program in 2019, expanding opportunities for Wold of Hyatt members to earn and redeem points across leisure and wellness focused stays.
“Two Roads’ passionate team members, strong brands, global footprint and robust development pipeline will expand our lifestyle offerings and grow Hyatt’s brand presence in more places where our guests and World of Hyatt members want to travel,” says Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation. “Hyatt and Two Roads share a commitment to genuine care and delivering distinctive experiences to discerning travelers. We are pleased to be coming together, and are dedicated to learning from each other and taking the best of both organizations forward.”