Take Skift
The standard hotel belongs to a category that Hyatt and all large corporations like to use. Hyatt’s CEO has previously stated that the inclusion of luxury and lifestyle brands can create a “network effect” that encourages growth and participation in loyalty programs.
Sean O’Neill
Hyatt Hotels announced Tuesday that it plans to buy the brands of Standard International, the owner of the luxury lifestyle brand The Standard.
Hyatt will pay a base purchase price of $150 million, with up to $185 million to be added over time as additional properties are added to the portfolio. The companies expect the deal to close later this year, subject to approvals.
Standard International operates five brands: The Standard, The Peri Hotel, Bunkhouse, The StandardX and The Manner. Hyatt will not acquire any physical assets, but instead will acquire the management, franchise and licensing agreements for 21 open hotels with approximately 2,000 rooms.
Hyatt also announced the creation of a new lifestyle group led by Amar Lalvani, CEO of Standard International.
Story is being updated.
Development of the stock index for the accommodation sector since the beginning of the year
What do I see? The performance of stocks from the hotel and short-term rental sector in the ST200. The index includes companies publicly traded on global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations and timeshare.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies valued at over $1 trillion into a single number. Learn more about financial performance in the hotel and short-term rental sector.
Read the full methodology behind the Skift Travel 200.
