We are pleased to announce Hyatt has completed the previously announced acquisition of Two Roads Hospitality, a lifestyle hotel management company with a unique collection of distinctive brands, outstanding properties and a significant global development pipeline.
For over 60 years, Hyatt has been committed to genuine care and distinct experiences, and joining together with an organization that also shares this focus represents an exciting milestone in Hyatt's growth journey. With Two Roads’ 70+ properties, Hyatt has expanded its brand presence into 23 new markets.
With the addition of the Alila, Destination, Joie de Vivre, Thompson and tommie brands, our combined portfolio stands at 19 brands and over 820 properties across 55 countries. Building on our joint expertise, we have an opportunity to provide our guests and customers with more options for every stay occasion and expand our wellbeing offerings, especially as wellbeing becomes increasingly important for business and leisure travelers and meeting attendees.
As part of this transaction, we are establishing a dedicated Lifestyle Operations Division to combine operations of Two Roads' and Hyatt's lifestyle brands.
As we move forward, we are committed to learning from one another and bringing the best of both organizations forward. Stay tuned for more exciting updates on our expanded network in 2019!