Addition ofAlila, Destination, Joie de Vivre, Thompson and tommie brands to the Hyattportfolio willstrengthen Hyatt's lifestyle and wellbeing offerings for high-end travelersworldwide

HONG KONG, CHINA - Media OutReach - October 9, 2018 - Hyatt Hotels Corporation (NYSE:H) today announced an agreement to acquire Two Roads Hospitality,an international lifestyle hotel management company with a unique collection ofdistinctive brands, properties and a robust development pipeline around theglobe.

Through the addition of Two Roads, itsestablished lifestyle brands and the management agreements for the majority ofits 85 properties in eight countries, Hyatt will expand its brand presence into23 new marketswhile enhancing its offerings in lifestyle hotel experiences and wellbeing.With Two Roads and its distinctive collection of lifestyle hotels, resorts andvacation residences, Hyatt will offer an expanded and more powerful portfolioof brands with best-in-class offerings to deliver compelling experiences andbenefits for guests and World of Hyatt members, expand its relationship with valued hotelowners, and drive growth for shareholders.

"Hyatt and Two Roads share a commitmentto genuine care and delivering distinctive experiences to discerning travelers.We are pleased to be coming together, and are dedicated to learning from eachother and taking the best of both organizations forward," said MarkHoplamazian, president and chief executive officer, Hyatt Hotels Corporation."Two Roads' passionate team members, strong brands, global footprint and robustdevelopment pipeline will expand our lifestyle offerings and grow Hyatt's brandpresence in more places where our guests and World of Hyatt members want totravel. Importantly, combining Two Roads' meaningful brand presence anddevelopment plans in Asia with Hyatt's already strong position in this regionwill allow us to accelerate expansion in this critically important andfast-growing part of the world."

The acquisition consists of a base purchase price of$480 million, with the potential for Hyatt to invest up to an additional $120million in the aggregate, contingent on the outcome of certain terms to beindividually defined after closing. The base plus contingent total purchaseprice is expected to reflect an EBITDA multipleof approximately 12-13x stabilized 2021 earnings, which Hyatt considers thebest indicator of valuation based on anticipated synergies and growth.

Consistentwith Hyatt's long-term growth strategy to drive shareholder value, thisinvestment in a high-growth, capital-light platform accelerates Hyatt's evolutionto a more fee-driven enterprise, funded by proceeds from an asset dispositionprogram in which real estate has been monetized at an average multiple ofapproximately 16.5x EBITDA to date. Notably, Hyatt is making this growthinvestment in a year in which it has committed to return approximately $800million of shareholder capital through a combination of share repurchases and acash dividend.

After the close of the transaction,which is expected later this year, Hyatt will create a dedicated lifestyle division as acatalyst to bring together the operations of Two Roads' and Hyatt's lifestylebrands. "Hyatt is an ideal home for us as we share many values and a deepcommitment to thoughtful growth and creating compelling experiences for ourguests," said Jamie Sabatier, chief executive officer, Two Roads Hospitality."Hyatt's unique position in the marketplace brings with it the powerful benefitof global scale while maintaining meaningful personal relationships with teammembers, guests and owners."

Hyatt will provide additionalinformation related to the acquisition, including a preliminary estimate of2019 earnings accretion, on its third quarter earnings call scheduled forOctober 31, 2018. Hyatt plans to integrate Two Roads brands into the World ofHyatt program in 2019, expanding opportunities for World of Hyatt members toearn and redeem points across more leisure-focused stay options and alsodriving hotel occupancy from a loyal group of travelers who spend more, staymore and book directly.

Goldman Sachs & Co.LLC served as exclusive financial advisor to Hyatt; Moelis & Company LLCserved as exclusive financial advisor to Two Roads Hospitality; Latham &Watkins LLP served as legal counsel to Hyatt; Skadden, Arps, Slate, Meagher& Flom LLP served as legal counsel to Two Roads Hospitality.

The term "Hyatt" isused in this release for convenience to refer to Hyatt Hotels Corporationand/or one or more of its affiliates. Hyatt plans to include Two Roads'properties in its World of Hyatt loyalty program, but such properties are notcurrently participating.

About Hyatt HotelsCorporation

Hyatt Hotels Corporation, headquarteredin Chicago, is a leading global hospitality company with a portfolio of 14premier brands. As of June 30, 2018, the Company's portfolio included more than750 properties in more than 55 countries across six continents. The Company'spurpose to care for people so they can be their best informs its businessdecisions and growth strategy and is intended to attract and retain top colleagues,build relationships with guests and create value for shareholders. TheCompany's subsidiaries develop, own, operate, manage, franchise, license orprovide services to hotels, resorts, branded residences, vacation ownershipproperties, and fitness and spa locations, including under the ParkHyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®,Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection byHyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™,Hyatt Zilara™, Hyatt Residence Club® and exhale®brand names. For more information, please visitwww.hyatt.com

About Two RoadsHospitality

Created inSeptember 2016, Two Roads Hospitality is an international lifestyle companyencompassing an unrivaled collection of distinctive properties, passionatepeople, and remarkable experiences around the globe. The company is named forthe recently-merged Commune and Destination Hotels, bringing together over 40years of combined expertise exclusively dedicated to the boutique and lifestylespace. Comprised of Joie de Vivre Hotels, Thompson Hotels, Destination Hotels,tommie and Alila Hotels & Resorts, the company is the leading operator ofindependent hotels with more than 85 properties in eight countries and growing,also boasting an extensive roster of award-winning restaurants and bars,stunning vacation residences, world-class golf courses, and indigenous spa andwellness offerings. For more information on Two Roads Hospitality, visit www.tworoadshotels.com, follow uson Twitter @TwoRoadsHotels, or like us on Facebook.

FORWARD-LOOKINGSTATEMENTS

Forward-Looking Statements in this press release, which arenot historical facts, are forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995. These statements include, butare not limited to, statements related to the Company's plans, objectives,goals, expectations, beliefs, business strategies, future events, businessconditions, business trends and expectations with respect to, among otherthings, the time schedule to complete the transaction and certain post-closingmatters, the impact of the transaction on consolidated Adjusted EBITDA andearnings accretion, and the integration of acquired properties into the Worldof Hyatt loyalty program, and involve known and unknown risks that aredifficult to predict. As a result, our actual results, performance orachievements may differ materially from those expressed or implied by theseforward-looking statements. In some cases, you can identify forward-lookingstatements by the use of words such as "may", "could", "expect", "intend","plan", "seek", "anticipate", "believe", "estimate", "predict", "potential","continue", "likely", "will", "would" and variations of these terms and similarexpressions, or the negative of these terms or similar expressions. Suchforward-looking statements are necessarily based upon estimates and assumptionsthat, while considered reasonable by us and our management, are inherentlyuncertain. Factors that may cause actual results to differ materially fromcurrent expectations include, among others, general economic uncertainty in keyglobal markets and a worsening of global economic conditions or low levels ofeconomic growth; the rate and the pace of economic recovery following economicdownturns; levels of spending in business and leisure segments as well asconsumer confidence; declines in occupancy and average daily rate; limitedvisibility with respect to future bookings; loss of key personnel; hostilities,or fear of hostilities, including future terrorist attacks, that affect travel;travel-related accidents; natural or man-made disasters such as earthquakes,tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclearincidents, and global outbreaks of pandemics or contagious diseases or fear ofsuch outbreaks; our ability to successfully achieve certain levels of operatingprofits at hotels that have performance guarantees in favor of our third-partyowners; the impact of hotel renovations and redevelopments; risks associatedwith our capital allocation plans and common stock repurchase program and otherforms of shareholder capital return, including the risk that our common stockrepurchase program could increase volatility and fail to enhance stockholdervalue; our intention to pay a quarterly cash dividend and the amounts thereof,if any; the seasonal and cyclical nature of the real estate and hospitalitybusinesses; changes in distribution arrangements, such as through internettravel intermediaries; changes in the tastes and preferences of our customers;relationships with colleagues and labor unions and changes in labor laws; thefinancial condition of, and our relationships with, third-party propertyowners, franchisees, and hospitality venture partners; the possible inabilityof third-party owners, franchisees, or development partners to access capitalnecessary to fund current operations or implement our plans for growth; risksassociated with potential acquisitions and dispositions and the introduction ofnew brand concepts; the timing of acquisitions and dispositions; failure tosuccessfully complete proposed transactions (including the failure to satisfyclosing conditions or obtain required approvals); our ability to successfullyexecute on our strategy to reduce our real estate asset base within targetedtimeframes and at expected values; declines in the value of our real estateassets; unforeseen terminations of our management or franchise agreements;changes in federal, state, local, or foreign tax law; the impact of changes inthe tax code as a result of recent U.S. federal income tax reform anduncertainty as to how some of those changes may be applied; increases ininterest rates and operating costs; foreign exchange rate fluctuations orcurrency restructurings; lack of acceptance of new brands or innovation;general volatility of the capital markets and our ability to access suchmarkets; changes in the competitive environment in our industry, including as aresult of industry consolidation, and the markets where we operate; our abilityto successfully grow the World of Hyatt loyalty program and the level ofacceptance of the program by our guests; cyber incidents and informationtechnology failures; outcomes of legal or administrative proceedings;violations of regulations or laws related to our franchising business; andother risks discussed in the Company's filings with the SEC, including ourannual report on Form 10-K, which filings are available from the SEC. Wecaution you not to place undue reliance on any forward-looking statements,which are made only as of the date of this press release. We do not undertakeor assume any obligation to update publicly any of these forward-lookingstatements to reflect actual results, new information or future events, changesin assumptions or changes in other factors affecting forward-lookingstatements, except to the extent required by applicable law. If we update oneor more forward-looking statements, no inference should be drawn that we willmake additional updates with respect to those or other forward-lookingstatements.