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Hyatt completes Standard International acquisition
Hyatt Hotels Corp has completed the acquisition of lifestyle hospitality company Standard International.
It adds The Standard and Bunkhouse Hotels brands to the Hyatt brand portfolio.
This acquisition enhances Hyatt’s l position in the industry’s premier lifestyle, the company says.
The 100% asset-light portfolio includes management, franchise and license contracts for 22 open hotels with approximately 2,000 rooms, including The Standard, London.
New properties slated to open later this year include The Standard, Singapore, Bunkhouse’s Hotel Saint Augustine in Houston, and The StandardX, Bangkok Phra Arthit.
The acquisition includes a residential segment business with Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin, Mexico City and Tulum as well as completed Bunkhouse Residences at Hotel Saint Cecilia in Austin, TX.
The acquisition includes more than 30 future projects with a signed agreement or letter of intent.
“The enthusiasm for bringing together the ethos of The Standard and Bunkhouse brands and the power of Hyatt’s network and distribution system is palpable,” said Mark Hoplamazian, CEO, Hyatt.
In the coming months, Hyatt will debut its new dedicated Lifestyle group that will be headquartered in New York City with additional offices in Austin and Bangkok.
It will be led by President and Creative Director Amar Lalvani, former Executive Chairman of Standard International.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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