Hyatt Expands Lifestyle Portfolio with Acquisition of Standard International

Hyatt Hotels Corporation has announced its plans to acquire Standard International, the parent company of the renowned Standard and Bunkhouse Hotels brands, in a strategic move to enhance its position in the lifestyle hospitality sector.

This acquisition, valued at a base price of $150 million, with potential additional payments of up to $185 million, is set to close later this year, pending customary conditions. The deal includes management, franchise, and license contracts for 21 operational hotels, totaling approximately 2,000 rooms.

Notable properties within this portfolio include The Standard, High Line in New York City, The Standard in London, and Hotel Saint Cecilia in Austin, Texas. This acquisition is entirely asset-light, allowing Hyatt to expand its footprint without the burden of owning physical properties.

Following the acquisition, Hyatt will establish a dedicated lifestyle group headquartered in New York City. This new entity will be led by Amar Lalvani, the executive chairman of Standard International, and will integrate both Standard International and Hyatt teams.

The acquisition also encompasses over 30 ongoing projects with signed agreements or letters of intent, including new properties expected to open in the next 12 months. Upcoming locations include The Standard in Pattaya, Thailand, and The StandardX in Bangkok, as well as Bunkhouse Hotels in Saint Augustine and Hotel Daphne.

Once the transaction is finalized, Hyatt plans to incorporate these lifestyle properties into its World of Hyatt loyalty program, which boasts 48 million members.

Mark Hoplamazian, President and CEO of Hyatt, expressed enthusiasm about the acquisition, noting that Standard International has built a distinctive and award-winning portfolio that resonates with discerning lifestyle guests. Lalvani echoed this sentiment, highlighting the shared vision and potential for growth that the partnership with Hyatt represents.