Hyatt Hotels to Acquire Standard International: Expanding Lifestyle Portfolio
Hyatt Hotels has officially confirmed its plans to acquire Standard International, a prominent lifestyle company known for its innovative brands, including The Standard and Bunkhouse Hotels. This significant move, following a July Bloomberg report, represents a strategic expansion into the lifestyle hotel sector for Hyatt.
According to a recent press release, the acquisition will see Hyatt acquire a 100 percent asset-light portfolio that includes management, franchise, and license agreements for 21 open hotels with approximately 2,000 rooms. Notable properties in this portfolio include The Standard in London, The Standard High Line in New York City, The Standard Bangkok Mahanakhon, Hotel Saint Cecilia in Austin, Texas, and Hotel San Cristóbal in Baja California, Mexico. This move aligns with Hyatt’s strategy to broaden its lifestyle segment and enhance its global portfolio.
Mark Hoplamazian, Hyatt’s President and CEO, emphasized the importance of this acquisition, stating, “The team behind Standard International has created a unique and award-winning portfolio of brands and properties that turn the status quo on its head and have attracted a loyal following among the most discerning lifestyle guests for the past 25 years.” He highlighted the impact of these properties, which have become destinations in their own right, known for their celebrated programming and events, such as the Met Gala afterparty.
The transaction, expected to close later this year, will lead to the integration of these hotels into Hyatt’s World of Hyatt loyalty program. Additionally, Hyatt plans to establish a new dedicated lifestyle group headquartered in New York City. This new group will be led by Standard International’s Executive Chairman Amar Lalvani, who will assume the role of President & Creative Director upon closing. Lalvani will oversee the integration of the brands and ensure that each maintains its unique identity and innovative spirit.
Lalvani, known for his previous work with W Hotels and as co-founder of The Standard brand, will lead key functions including experience creation, design, marketing, programming, public relations, restaurants, nightlife, and entertainment. His leadership aims to enhance and preserve the integrity and creativity of each lifestyle brand under the new group.
Standard International’s diverse portfolio includes brands such as The Standard, Bunkhouse Hotels, Peri Hotels, The StandardX (new in Melbourne), and The Manner (launching in Soho, New York). The portfolio also features a range of restaurants and nightlife concepts, including The Boom Boom Room, The Standard Grill, The Standard Biergarten, Café Standard, Lido Bayside Grill, Jo’s Coffee, and iconic rooftop venues like Le Bain, Decimo, Sweeties, UP, Ojo, and Sky Beach.
Amar Lalvani commented on the acquisition, “We waited a long time to find the right company with whom to join forces. In choosing Hyatt, we tap into a powerful global infrastructure and loyal guest base.” This acquisition marks a significant milestone for Hyatt, expanding its lifestyle offerings and reinforcing its position as a leading player in the global hotel industry.