Hyatt is known for its luxury brands. The name is widely recognized amongst the hospitality world. Yet the chain ranked 11th in the number of properties. Yes, 801 hotels is a nice number, but the chain must compete with Wyndham, Choice, Marriott, Hilton, and Intercontinental, and that’s just the top five.
Last week Hyatt announced their agreement to acquire the 85 hotels that are under Two Roads Hospitality which is an international lifestyle hotel management company. Two Roads brands include Tompson, Alilia, Tommie, Joie, Viv.re, and Destination. All brands will be part of the Hyatt rewards program starting in 2019.
Hyatt has an announced the purchase price of $480 million with the potential for an additional $120 million based on the final terms.
Thanks for reading – Seth Teitelbaum