U.S. Hyatt Hotels to acquire Two Roads Hospitality for $480 million

U.S. hospitality company Hyatt Hotels Corporation has announced an agreement to acquire Two Roads Hospitality, a lifestyle hotel management company, for $480 million.

Through the addition of Two Roads, Hyatt will expand its brand presence into 23 new markets while enhancing its offerings in lifestyle hotel experiences and wellbeing.

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.

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.