Brands aquired in­clude Alila, Des­ti­na­tion, Joie de Vivre, Thomp­son, and tom­mie

Hotelier Middle East - - BULLETIN -

AC­QUI­SI­TION Hy­att Ho­tels Cor­po­ra­tion has com­pleted the ac­qui­si­tion of Two Roads Hos­pi­tal­ity, a lifestyle ho­tel man­age­ment com­pany with a port­fo­lio of brands as well as a global de­vel­op­ment pipe­line.

The ac­qui­si­tion price was re­vised down from US$480 mil­lion to $405 mil­lion and the ag­gre­gate po­ten­tial ad­di­tional con­sid­er­a­tion from Hy­att was re­vised to $96 mil­lion from $120 mil­lion. Gold­man Sachs served as ex­clu­sive fi­nan­cial ad­vi­sor to Hy­att while Moelis & Com­pany served as ex­clu­sive fi­nan­cial ad­vi­sor to Two Roads Hos­pi­tal­ity.

The re­vised con­sid­er­a­tion re­flects the ex­clu­sion of cer­tain prop­er­ties from the trans­ac­tion, in­clud­ing prop­er­ties not op­er­ated un­der the Two Roads brands and prop­er­ties that will con­tinue to be man­aged or li­censed di­rectly by an af­fil­i­ate of sell­ers, ac­cord­ing to a state­ment.

Through the ac­qui­si­tion,

Hy­att’s port­fo­lio has ex­panded to in­clude es­tab­lished brands —

Alila, Des­ti­na­tion, Joie de Vivre, Thomp­son, and tom­mie – en­hanc­ing the com­pany’s pres­ence in 23 new mar­kets, with man­age­ment and li­cense agree­ments for 74 open and op­er­at­ing ho­tels across North Amer­ica and Asia. Com­ment­ing on the ac­qui­si­tion, Hy­att pres­i­dent and CEO Mark Ho­pla­mazian said: “We will lever­age the shared ex­per­tise of Hy­att and Two Roads across our pow­er­ful com­bined port­fo­lio of 19 brands to bring best-in-class of­fer­ings for guests around the globe.”

Hy­att Re­gency in Saudi Ara­bia

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