After much rumor and speculation Hyatt has formally announced that it will be acquiring Two Roads Hospitality for a base price of $480 million. As part of the deal Hyatt will secure the management agreements for the majority of the 85 properties Two Roads Hospitality is responsible for currently in 8 different countries. This will allow Hyatt to expand it’s presence into 23 new markets while adding properties to areas they have an existing presence.
These properties won’t be integrated into the World of Hyatt program until sometime in 2019. Two Roads Hospitality is comprised of Vivre Hotels, Thompson Hotels, Destination Hotels, tommie and Alila Hotels & Resorts. One of the big problems with Hyatt has always been it’s footprint size, so it’s nice to see Hyatt at least trying to address this issue with this type of acquisition.
