Hyatt Hotels Corporation, a premium luxury hotel chain, said on Monday that it will be acquiring Two Roads Hospitality. Alila Diwa Goa and Alila Fort Bishangarh are the two properties owned by the company in India.
Hyatt, with the acquisition of Two Roads will have its presence in 23 new markets, and will further enhance the list of facilities it offers to its clients including lifestyle hotel experiences and wellbeing.
In a statement, Mark Hoplamazian, President and Chief Executive Officer, Hyatt Hotels Corporation, said, “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. Importantly, combining Two Roads’ meaningful brand will allow us to accelerate expansion in this critically important and fast-growing part of the world.”
The base amount in the purchase is $480 million, to which another $120 million can be added by Hyatt, depending on certain terms to be defined after closing. The base and contingent total price is expected to reflect an EBITDA multiple of approximately 12-13x stabilized 2021 earnings, which can be considered the best indicator of valuation.