Confirmed: Hyatt Buying Two Roads Hospitality, Picks up ~ 85 Hotels

On Friday I wrote that Hyatt would be acquiring Two Roads Hospitality. That’s the hotel management company which manages and operates Alila Hotels & Resorts, Destination Hotels, Joie de Vivre Hotels, Thompson Hotels, and tommie Hotels.

  • Destination Hotels is 47 properties
  • Joie de Vivre is 19 properties, with their largest presence in California
  • Alila is 17 plus 3 in pipeline, with a concentration in Indonesia and India
  • Thompson Hotels has 10 locations
  • And tommie has 1 coming

The deal has now been publicly confirmed at a 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.”

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 wellbeing. With Two Roads and its distinctive 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.

Alila Uluwutu, Bali

The deal announcement cites 85 properties, 10% fewer than are listed on the Two Roads website. Acquiring the group will grow Hyatt’s footprint by about 13%.

In my view this represents a very good fit with Hyatt’s upscale brand and gives them a number of luxury properties in the U.S. and Asia especially. However it still leaves them light at the lower end of the spectrum even though their fastest growth over the last several years has been in the (relatively upscale) select service sector.

The largest shareholder of Two Roads is John Pritzker of the Hyatt Pritzkers so it’s a bit of an inside deal, though the company has been aggressively shopped and many chains looked at the deal.

Alila Seminyak, Bali

Hyatt plans to “create a dedicated lifestyle division…to bring together the operations of Two Roads’ and Hyatt’s lifestyle brands.”

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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  1. More hotels (and redemption opportunities) are always good. But this doesn’t do a darn thing about making Hyatt more appealing to the business traveler and allowing them to attain Hyatt’s more stringent elite levels.

  2. “The largest shareholder of Two Roads is John Pritzker of the Hyatt Pritzkers so it’s a bit of an inside deal.”

    Sure sounds like it! 🙂

    But I think everyone with access to Hyatt points (like everyone who has Chase Ultimate Rewards points) will like this deal. For instance, it will certainly add a significant number of hotels in Hawaii that are available for award redemption at plausible prices.

  3. Gary

    based on the price paid do you think we should expect to see any increases in award redemption prices across the board or might we be losing any type of benefits?
    devaluation? specificallyy wondering about globalists here.

  4. @PJ – I don’t see why price paid will have anything to do with benefits or value of points. Hyatt is going to need to leverage the loyalty program to make this acquisition work out. I imagine most properties join Unbound Collection. Remains to be seen the extent to which there’s anyone opting out of the program or carveouts being made for some with respect to benefits. Overall though I see this as a win for members even if not every one of the properties goes along.

  5. Some of these properties, especially in Hawaii, are privately owned individual residences or condos, presently rented out and serviced through centralized management. I’ve stayed at several and each had personalized, non-standard furnishings, some good, some bad, much like an Airbnb. I wonder if Hyatt will attempt to standardize these properties that they will manage or will allow them to continue as before? If the latter, I can imagine this might cause problems for guests expecting a hotel like environment.

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