Hyatt has completed its acquisition of Standard International and its hotel brands The Standard and Bunkhouse Hotels.
The 100% asset-light portfolio includes 22 open hotels with approximately 2,000 rooms, including The Standard, London, The Standard, New York City’s High Line, The Standard, Bangkok Mahanakorn and The Manor in SoHo Includes management, franchise and licensing agreements. .
Hyatt’s acquisition of Standard International includes management, franchise and licensing agreements for 22 open hotels, including The Manor in SoHo, pictured here.
New properties scheduled to open later this year include The Standard Singapore, Bunkhouse Hotel St. Augustine in Houston, and The StandardX Bangkok Phra Arthit.
The acquisition also includes the Standard Residences residential projects under development in Miami, Lisbon, Phuket, Hua Hin, Mexico City and Tulum, as well as the completed Bunkhouse Residences at Hotel St. Cecilia in Austin, Texas.
The acquisition includes more than 30 future projects for which the company has signed agreements or letters of intent, in addition to the new projects triggered by the announcement of the acquisition plan in August.
Mark Hopramazian, President and CEO of Hyatt, said: “The development community knew we were an industry changer when we saw it, and their enthusiasm for bringing together the spirit of The Standard and Bunkhouse brands and the power of Hyatt’s network and distribution system was palpable. What?
“Developers love this combination as much as we do,” he added.
In the coming months, Hyatt will debut a new dedicated lifestyle group headquartered in New York City with offices in Austin and Bangkok and led by president and creative director Amar Lalvani, former executive chairman of Standard International. I plan to do so.
“The lifestyle sector is not for the faint of heart. It requires creativity and dedication,” said Lalvani. “But if you do it right, you can reap the rewards of guest loyalty and significant developer profits.”
Complementing Lifestyle Growth, Hyatt’s portfolio continues to grow across all segments, with clear leadership across key features and services focused on guest and customer care at the pinnacle of luxury We have plans for a new luxury specialty group.
