Hyatt Announces Acquisition of Two Roads Hospitality
Hyatt announced announced today an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a unique collection of brands and properties around the globe.
The new deal will add about 85 properties in eight countries for the Hyatt portfolio. It will also enhance its offerings in lifestyle hotel experiences and wellbeing. That goes along with another partnership they just announced a few days ago with Exhale.
Two Roads Hospitality is comprised of Joie de Vivre Hotels, Thompson Hotels, Destination Hotels, tommie and Alila Hotels & Resorts. They also boasting an extensive roster of award-winning restaurants and bars, stunning vacation residences, world-class golf courses, and indigenous spa and wellness offerings. They also already have development plans in Asia for more properties.
The acquisition consists of a base purchase price of $480 million, with the potential for Hyatt to invest up to an additional $120 million.
Hyatt plans to integrate Two Roads brands into the World of Hyatt program in 2019. That, will give its member expanding opportunities to earn and redeem points across more leisure-focused options.