Wednesday, August 21, 2024 Hyatt Hotels Corporation announced today its planned acquisition of the brands and most affiliates of the pioneering lifestyle company Standard International, parent of The Standard and Bunkhouse Hotels. This strategic move strengthens Hyatt’s leadership in the premier lifestyle segment, further building on its organic growth and a series of acquisitions that have quintupled the number of lifestyle rooms in its global portfolio from 2017 to 2023. The transaction, subject to customary closing conditions, is expected to finalize later this year.
Following the acquisition, Hyatt will establish a new dedicated lifestyle group headquartered in New York City. This group will be led by Standard International’s Executive Chairman, Amar Lalvani, and will leverage Hyatt’s operational and loyalty infrastructure while assuming leadership in key areas such as experience creation, design, marketing, programming, public relations, and more. The group will comprise both the talented team from Standard International and Hyatt colleagues.
Additional details about the group will be released after the transaction closes. This acquisition marks a significant step in Hyatt’s evolution toward becoming a brand- and experience-driven company. The asset-light portfolio includes management, franchise, and license agreements for 21 hotels, totaling approximately 2,000 rooms, including The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok.