CHICAGO — Hyatt Hotels Corporation has entered an agreement to acquire Two Roads Hospitality, a Denver-based international lifestyle-hotel management company, for approximately $600 million.
Through the addition of Two Roads, its established lifestyle brands and the management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its brand presence into 23 new markets, while enhancing its offerings in lifestyle-hotel experiences and wellbeing.
“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, Hyatt Hotels Corporation. “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.”
After 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.