TravelNewsAsia.com
Tue, 9 Oct 2018

Hyatt to Acquire Two Roads Hospitality; Will Establish New Lifestyle Division

Hyatt has signed an agreement to acquire Two Roads Hospitality, a hotel management company that comprises Joie de Vivre Hotels, Thompson Hotels, Destination Hotels, tommie and Alila Hotels & Resorts brands.

 Through the addition of Two Roads, its established lifestyle brands and management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its presence into 23 new markets.

Mark Hoplamazian, president and chief executive officer, Hyatt Hotels Corporation, said, "Combining Two Roads' meaningful brand presence and development plans in Asia with Hyatt's already strong position in this region will allow us to accelerate expansion in this critically important and fast-growing part of the world."

Hyatt has signed an agreement to acquire Two Roads Hospitality, a hotel management company that comprises Joie de Vivre Hotels, Thompson Hotels, Destination Hotels, tommie and Alila Hotels & Resorts brands. Through the addition of Two Roads, its established lifestyle brands and management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its presence into 23 new markets. Click to enlarge.

The acquisition consists of a base purchase price of $480 million, with the potential for Hyatt to invest up to an additional $120 million in the aggregate, contingent on the outcome of certain terms to be individually defined after closing.

The base plus contingent total purchase price is expected to reflect an EBITDA multiple of approximately 12-13x stabilized 2021 earnings.

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 is an ideal home for us as we share many values and a deep commitment to thoughtful growth and creating compelling experiences for our guests," said Jamie Sabatier, chief executive officer, Two Roads Hospitality. "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."

 Hyatt plans to integrate Two Roads brands into the World of Hyatt program in 2019, expanding opportunities for World of Hyatt members to earn and redeem points.

Hyatt has said it will provide additional information related to the acquisition, including a preliminary estimate of 2019 earnings accretion, on its third quarter earnings call scheduled for 31 October 2018.

Latest videos and podcasts: Russian Helicopters CEO Press Conf., Four Seasons Hotel KL, Luxury Yachts - Simpson Marine, Sailing in Thailand - Ocean Marina, Disabled Sailing Thailand, Sky Marine Group Thailand, Compass Edge Finland, Korean Air, Korean Food and Soju, Asia Pacific Aviation Industry Update, Crowne Plaza Changi Airport Singapore, What is a Moxy Hotel?, Plastic, Climate Change and Sustainable Tourism, JW Marriott Phuket, Sustainable Hotels - Crowne Plaza Changi Airport, Saving Boracay Island, Philippines, Sustaining Tourism, Sustainable Hotels - JW Marriott Phuket, Diving in Phuket, Anthony Lark Explains PHIST, Raya Heritage Resort, Chiang Mai, Pattana Golf Club & Resort, Sriracha, airBaltic A220-300, Jake Needham, Dell Precision 7730 Mobile Workstation and Dusit Thani Bangkok - Is It Really Going to Close?.

See latest HD Video Interviews, Podcasts and other news regarding: Hyatt, Two Roads, Alila.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Latest Travel News
Advertising
Advertising
Copyright © 1997-2018 TravelNewsAsia.com