Hyatt Hotels Corporation has announced plans to acquire Standard International, the parent company of Standard and Bunkhouse Hotels.
The transaction, which expands Hyatt’s position in the lifestyle sector, is expected to close later this year.
Standard International’s hotel portfolio
The Standard, London
The acquired portfolio will be 100 percent asset-light and includes management, franchise and licensing agreements for 21 open-ended hotels with approximately 2,000 rooms. These properties include: the Standard, London; the Standard, High Line in New York; the Standard, Bangkok Mahanakhon; as well as boutique properties such as the Hotel Saint Cecilia in Austin, Texas; and the Hotel San Cristóbal in Baja California, Mexico.
After the transaction is completed, Hyatt plans to integrate these hotels into the World of Hyatt program to give its 48 million loyalty program members access to the portfolio of lifestyle properties.
The completion of the sale completes the investment by Sansiri PLC, which acquired a majority stake in Standard International in 2017 and supported the company’s international expansion.
Hyatt’s new lifestyle group led by Amar Lalvani
Hotel San Cristóbal in Todos Santos, Mexico
Hyatt will soon launch a new lifestyle group that will include both Standard and Hyatt teams and will be headquartered in New York. Led by Amar Lalvani, chairman of Standard International, the group will leverage Hyatt’s operations and loyalty infrastructure while providing clear leadership in key functions such as experience creation, design, marketing and programming.
“We have waited a long time to find the right company to work with,” says Lalvani. “Hyatt brings a powerful global infrastructure and a loyal guest base to the table. I am very proud that our team has been able to realize the potential we saw at the Standard and Bunkhouse hotels and honored that Hyatt recognizes how special our brands, hotels and, most importantly, our people are.”
“We share a shared vision for the enormous potential that lies ahead,” he adds. “I would like to express my gratitude to Hyatt for taking this bold step forward and to Sansiri for supporting our efforts.”
Other acquired properties
The recently opened StandardX, Melbourne
Standard International’s brand portfolio also includes Peri Hotels and its two new additions: StandardX, which launched in Melbourne this month, and Manner, which will debut in New York next month.
The acquisition includes more than 30 projects with a signed agreement or letter of intent. The Standard, Pattaya Na Jomtien; the StandardX, Bangkok Phra Arthit; Hotel Saint Augustine and Hotel Daphne are expected to open in the next 12 months.
Standard International has also built a robust residential real estate business, with Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin and Mexico City, and the completion of Bunkhouse Residences at Hotel Saint Cecilia.
“The team behind Standard International has created a unique and award-winning portfolio of brands and hotels that challenge the status quo and have gained a loyal following among the most discerning lifestyle guests for 25 years,” said Mark Hoplamazian, President and CEO of Hyatt. “These hotels capture the spirit of the times and create destinations of their own with celebrated and highly acclaimed programs and events like the Met Gala after-party. We are thrilled to welcome the Standard International hotels and team to the Hyatt family with the newly created Lifestyle group and to benefit from their ingenuity, creativity, culture and innovation.”
In connection with the transaction, Moelis & Company LLC acted as financial advisor to Hyatt and Venable LLP acted as legal advisor.
Standard International was named Hospitality Design’s Hotel Company of the Year 2024 as part of the 20th annual HD Awards program.
The Standard, Bangkok Mahanakhon
Hotel Saint Cecilia
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