Hyatt’s high hopes for two roads revealed
Hyatt has no plans to remove or consolidate any of Two Roads’ brands.
It’s a well-known fact that in today’s highly competitive and increasingly consolidated hospitality industry that relatively smaller public hotel companies like Hyatt are seeking ways to add more scale.
So with just 750 hotels in its global portfolio, Hyatt’s proposed purchase of Two Roads Hospitality on October 8 wasn’t really a surprise within the industry or that it wanted to add to its portfolio. By comparison, Marriott International has more than 6,700 hotels and Hilton has more than 5,500 hotels.
On a conference call to discuss third quarter earnings on Wednesday, Hyatt CEO Mark Hoplamazian and outgoing chief financial officer Patrick Grismer offered more details and insights into Hyatt’s reasoning for buying Two Roads, and what it intends to do with its brands.
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