Hyatt to acquire Standard... | Connecting Travel

Portfolio includes The Standard and Bunkhouse Hotels

Global hotel giant Hyatt plans to acquire lifestyle company Standard International, the parent company of The Standard and Bunkhouse Hotels brands.

The move builds on Hyatt’s organic growth and a series of acquisitions that quintupled the number of lifestyle rooms in its global portfolio between 2017 and 2023.

The transaction is expected to be finalised later this year and will see Hyatt form a new dedicated lifestyle group to be headquartered in New York City led by Standard International's Executive Chairman Amar Lalvani.

The acquired portfolio will be 100% asset-light and includes management, franchise and license contracts for 21 open hotels with approximately 2,000 rooms, including The Standard, London (pictured); The Standard, High Line in New York City; The Standard, Bangkok Mahanakhon, and boutique properties Hotel Saint Cecilia in Austin, Texas and Hotel San Cristóbal, Baja California, Mexico, among others.

In addition to The Standard and Bunkhouse Hotels brands, Standard International’s brand portfolio includes Peri Hotels and its two newest additions, The StandardX, which launched this month in Melbourne, Australia, and The Manner, which launches next month in Soho, New York in time for New York Fashion Week.

Hyatt will integrate these hotels into the World of Hyatt loyalty programme, giving its 48 million members rewards for bookings.

Beyond its hotel brands, the portfolio includes restaurant and nightlife concepts including The Boom Boom Room and The Standard Grill.

The acquisition also includes more than 30 projects with a signed agreement or letter of intent, including new properties expected to open over the next 12 months.

Hyatt will pay a base purchase price of US$150 million, with up to an additional US$185 million over time as additional properties enter the portfolio.

Once finalised, the sale will cap a successful investment for Sansiri PLC, which acquired a majority position in Standard International in 2017 and facilitated the company’s international expansion.

Sansiri will continue to own several properties that will be managed or franchised under the acquired brands.

For more information, visit www.hyatt.com

FIND OUT MORE