Hyatt acquires lifestyle management company
10 Oct 2018 - by
Hyatt Hotels Corporation has acquired international lifestyle management company, Two Roads Hospitality, for a base purchase price of $480 million (R7bn).
The acquisition will see Hyatt expand its brand presence into 23 new markets with the addition of Two Roads’ established lifestyle brands and the management agreements for the majority of its 85 properties in eight countries.
According to a statement released by Hyatt, it will also create a dedicated lifestyle division as a way of bringing the Two Roads and Hyatt operations together. This will happen after the close of the transaction, which is expected later this year.
There are also plans to integrate Two Roads brands into the World of Hyatt programme in 2019.