Hyatt Hotels Corporation has announced its planned acquisition of Standard International, the parent company behind The Standard and Bunkhouse Hotels brands. This strategic move is set to solidify Hyatt’s leadership in the lifestyle hotel sector, building on its impressive expansion between 2017 and 2023, which saw the company quintuple its lifestyle room offerings globally.
The transaction, expected to be completed later this year, will result in the formation of a new dedicated lifestyle group within Hyatt, headquartered in New York City. This group will be led by Amar Lalvani, the current Executive Chairman of Standard International, who will assume the role of President & Creative Director. The new division will benefit from Hyatt’s operational and loyalty infrastructure; while maintaining distinct leadership in areas such as design, marketing, and guest experience creation.
Hyatt’s acquisition includes management, franchise, and licensing agreements for 21 hotels, comprising approximately 2,000 rooms. Among the properties are The Standard, London; The Standard, High Line in New York City; and The Standard, Bangkok Mahanakhon, alongside boutique establishments like Hotel Saint Cecilia in Austin, Texas, and Hotel San Cristóbal in Baja California, Mexico. These hotels will be integrated into Hyatt’s World of Hyatt loyalty programme, offering 48 million members access to this collection of lifestyle properties.
Mark Hoplamazian, President and CEO of Hyatt, expressed enthusiasm for the acquisition, praising Standard International’s unique and award-winning portfolio. “The team behind Standard International has created brands and properties that have become destinations in their own right. We are thrilled to welcome their properties and team into the Hyatt family as we continue to push the boundaries of what a lifestyle brand can be,” Hoplamazian said.
Lalvani, who has been instrumental in the global development of The Standard and Bunkhouse brands, highlighted the synergies between the two companies. “We waited a long time to find the right partner, and in Hyatt, we have found a company with a powerful global infrastructure and a loyal guest base that aligns with our vision. We are excited to join forces and look forward to the potential that lies ahead,” Lalvani stated.
The acquisition includes over 30 projects with signed agreements or letters of intent, with several new properties slated to open in the coming year, such as The Standard, Pattaya Na Jomtien and The StandardX, Bangkok Phra Arthit. Additionally, Standard International’s residential ventures, including developments in Miami, Lisbon, and Mexico City, will be part of the expanded portfolio.
Hyatt will pay a base purchase price of $150 million, with the potential for an additional $185 million as more properties are added. This acquisition marks another significant step in Hyatt’s evolution into a brand- and experience-driven company, expanding its influence in the lifestyle hospitality sector.