Share to Facebook Share to Twitter Share to Linkedin The Standard London Standard Hotels Hyatt has been on a strategy reset for the past several years as it looks to compete with larger hospitality brands like Marriott, Hilton and IHG. Its focus has been on filling in gaps in its portfolio, which is notably smaller than its competitors. This has included notable acquisitions in the all-inclusive space for vacation destinations (Apple Leisure) as well as high-end, lifestyle properties like Dream Hotel Group.
Since 2017, Hyatt has grown its lifestyle portfolio by five times what it was previously. And the momentum has not stopped. Yesterday, the company announced the acquisition of Standard International, parent company of The Standard and Bunkhouse Hotels brands, with a closing date on the deal expected by the end of the year.
Hotel du Palais in Biarritz, a famous luxury palace, France, and part of The Unbound Collection by ...
[+] Hyatt. getty It is a “doubling down” of sorts for Hyatt on lifestyle, which already makes up 40% of its portfolio (larger than its competitors). The purchase of Mr & Mrs Smith expedited this by giving World of Hyatt presence in new markets like Croatia, Fiji and the British Virgin Islands.
Hyatt plans to add a new lifestyle group in New York, under the aegis of Standard International's Executive Chairman Amar Lalvani, to give more focus and attention on this segment from a marketing, design and nightlife focus. MORE FOR YOU Trump Vs. Harris 2024.