HYATT COMPLETES ACQUISITION OF TWO ROADS HOSPITALITY
Brands aquired include Alila, Destination, Joie de Vivre, Thompson, and tommie
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