Hyatt has increased its investment in lifestyle hotel brands, while trying to reduce its owned real estate. : (Bloomberg)—Hyatt Hotels Corp. agreed to acquire independent hotel operator Two Roads Hospitality for $480 million as the company increases its investment in lifestyle brands while reducing its reliance on owned real estate. Hyatt plans to create a dedicated lifestyle division after the deal’s completion later this year, combining brands such as Andaz and Hyatt Centric with Two Roads’ flags, including Thompson Hotels and Alila Hotels & Resorts.