Hyatt Hotels Corporation has announced plans to acquire the brands and most affiliates of Standard International, the parent company of The Standard and Bunkhouse Hotels.
This strategic acquisition will strengthen Hyatt’s position as a leader in the lifestyle hospitality sector, building on significant growth in this area over the past several years. The transaction, set to close later this year, is expected to enhance Hyatt’s brand-driven focus by adding a portfolio of distinctive lifestyle properties to its global offerings.
The acquisition includes 21 operational hotels, including high-profile locations like The Standard, High Line in New York City, and The Standard, London, alongside boutique properties such as Hotel Saint Cecilia in Austin, Texas, and Hotel San Cristóbal in Baja California, Mexico.
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The move will see the formation of a new dedicated lifestyle group based in New York City, led by Amar Lalvani, Executive Chairman of Standard International. This group will integrate the acquired properties into Hyatt’s global network while maintaining the distinctiveness and innovation that have defined Standard International’s brands.
Hyatt’s acquisition, valued at a base price of $150 million with potential additional payments of up to $185 million, will also include management, franchise, and license agreements for over 30 projects in development.
These include new hotels expected to open within the next year, such as The Standard, Pattaya Na Jomtien, and The StandardX, Bangkok Phra Arthit. Upon completion, these properties will be integrated into the World of Hyatt loyalty program, broadening the portfolio’s appeal to Hyatt’s 48 million members.
Mark Hoplamazian, President and CEO of Hyatt, praised the acquisition, highlighting the cultural and innovative contributions of Standard International to the hospitality industry. Lalvani, who will take on the role of President & Creative Director of the new lifestyle group, expressed pride in the achievements of The Standard and Bunkhouse Hotels and enthusiasm for the future collaboration with Hyatt.
This acquisition continues Hyatt’s evolution towards a more brand- and experience-focused company, leveraging Standard International’s creative and unconventional approach to hospitality to further distinguish Hyatt in the competitive lifestyle market.
Source: Hyatt to Acquire Standard International, Expanding Leadership in Lifestyle Hospitality
