Hyatt Hotels Corporation announced an agreement to acquire lifestyle hotel management company Two Roads Hospitality for a base price of $480 million from private equity firm Geolo Capital.
The boutique hotel company comprises brands such as Alila, Destination, Joie de Vivre, Thompson, and Tommie. With the acquisition, Hyatt will add Two Roads’ 85 properties in eight countries to its portfolio of 750 hotels, expanding its brand presence into 23 new markets. Expected to close by the end of this year, the deal allows Hyatt the option to invest up to an additional $120 million, contingent on the outcome of certain terms to be individually defined after closing. After the close of the transaction, Hyatt will create a dedicated lifestyle division to bring together the operations of Two Roads’ and Hyatt’s lifestyle brands.
“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,” says Hyatt president and CEO Mark Hoplamazian. “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. Importantly, 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.”
“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.”
