Hospitality

Hyatt Hotels Acquires Colorado Hospitality Company

Following the completion of a potential $600 million sale, Hyatt Hotel Corp. announced that it has reached an agreement to buy Arapahoe County-based Two Roads Hospitality, a hotel management company most notable for The Gant in Aspen, the Manor Vail Lodge, the Hotel Talisa in Vail and the Hilton Denver Inverness in Arapahoe County. Two Roads will become part of one of the world’s largest hotel companies, which gives the 85-property hotel company resources to expand its brand internationally.

Hyatt saw Two Roads’ portfolio as a chance to increase offerings in the lifestyle hotel segment, while Two Roads officials saw the transaction as a way of growing all of its brands as consolidation is increasing in the global hotel industry.

The deal is attractive to Hyatt because Two Roads does not own any of its hotels but instead works with partners to develop its brands and to manage some properties.

According to a Hyatt spokesperson, Two Roads CEO Jamie Sabatier will remain an active part of the transition team as the company integrates Two Roads’ brands into its portfolio and into its World of Hyatt rewards program by 2019.

Read the full story here.

 

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