Hyatt Completes Acquisition of Standard International
Hyatt Hotels announced on Tuesday the completed acquisition of lifestyle hospitality company Standard International, parent company of The Standard and Bunkhouse Hotels brands.
This acquisition enhances Hyatt’s position in the premier lifestyle segment, building on both Hyatt’s organic growth and a series of acquisitions that have quintupled the number of lifestyle rooms in Hyatt’s global portfolio since 2017.
The 100% asset-light portfolio includes management, franchise and license contracts for 22 open hotels with approximately 2,000 rooms, including The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon and The Manner in SoHo.
New properties coming later this year include The Standard, Singapore, Bunkhouse’s Hotel Saint Augustine in Houston, and The StandardX, and Bangkok Phra Arthit. The acquisition includes a robust residential 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.
There are 30 future projects with a signed agreement or letter of intent, along with new projects sparked by the August announcement of the planned acquisition.
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 and led by President & Creative Director Amar Lalvani, former Executive Chairman of Standard International.
