Hyatt acquires Two Roads Hospitality; adds Alila to portfolio
Hyatt Hotels Corporation has announced an agreement to acquire Two Roads Hospitality. In India, Alila Diwa Goa and Alila Fort Bishangarh are the two properties that belong to Two Roads Hospitality. 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 well-being. With Two Roads and its collection of lifestyle hotels, resorts and vacation residences, Hyatt will offer an expanded and more powerful portfolio of brands with best-in-class offerings to deliver compelling experiences and benefits for guests and World of Hyatt members, expand its relationship with valued hotel owners, and drive growth for shareholders.
“Hyatt and Two Roads are dedicated to learning from each other and taking the best of both organisations forward,” said Mark Hoplamazian, President and CEO, Hyatt Hotels Corporation. “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.”
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. “Hyatt’s unique position in the marketplace brings with it the powerful benefit of global scale while maintaining meaningful personal relationships with team members, guests and owners,” said Jamie Sabatier, CEO, Two Roads Hospitality.
source: Tourism Breaking News