Hyatt Hotels Corporation has completed its acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotels brands. The deal adds approximately 2,000 rooms across 22 open hotels to Hyatt's portfolio.
The acquisition includes management, franchise and license contracts for properties such as The Standard, London; The Standard, High Line in New York City; and The Standard, Bangkok Mahanakhon. The recently opened The Manner in SoHo, New York, is also part of the deal.
Several new properties are slated to open later this year, including The Standard, Singapore; Bunkhouse's Hotel Saint Augustine in Houston; and The StandardX, Bangkok Phra Arthit. The acquisition also encompasses a residential business with Standard Residences under development in various locations and completed Bunkhouse Residences in Austin, Texas, as well as more than 30 future projects with a signed agreement or letter of intent.
"The development community knows an industry game-changer when they see it, and the enthusiasm for bringing together the ethos of The Standard and Bunkhouse brands and the power of Hyatt's network and distribution system is palpable,” said Mark Hoplamazian, President and CEO of Hyatt. “Developers love this combination as much as we do."
Hyatt plans to establish a new dedicated Lifestyle group based in New York City, with additional offices in Austin and Bangkok. Amar Lalvani, former executive chairman of Standard International, will lead this group as president and creative director.
"The lifestyle segment isn't for the faint of heart, it takes creativity and commitment,” Lalvani. “But if you get it right, you reap the benefits of outsized guest loyalty and outsized developer returns. The beauty of this combination is that Hyatt respects the creativity and freedom required to deliver the experiences we do, and we respect the value of Hyatt's storied history, global infrastructure and best-in-class commercial services."
Editor’s Note: This article was generated by AI, based on a press release distributed by Hyatt Hotels Corporation. It has been fact-checked and reviewed by a TravelAge West editor.
