Hyatt is set to broaden its portfolio by acquiring Standard International, the parent company of The Standard and Bunkhouse Hotels. The acquisition, expected to finalize by late 2024, includes management and franchise rights for 21 properties totaling around 2,000 rooms. Hyatt will initially pay $150 million, with the potential for an additional $185 million as more hotels join the portfolio. Following the acquisition, these hotels will be integrated into the World of Hyatt loyalty program.
The Standard is a well-known lifestyle hotel brand with properties in major cities such as New York, Miami, London, and Ibiza, popular for its focus on nightlife and hip, trendy experiences. This acquisition continues Hyatt’s efforts to grow its global footprint in the lifestyle and upscale segments, adding to previous purchases like Two Roads Hospitality and Apple Leisure Group.
Additionally, Hyatt is establishing a new dedicated lifestyle group in New York City, led by Amar Lalvani, Executive Chairman of Standard International. The group will concentrate on innovation in guest experiences, design, and entertainment, while benefiting from Hyatt’s extensive operational infrastructure. This strategic move emphasizes Hyatt’s continued focus on expanding its lifestyle brand presence through targeted acquisitions.
