Hyatt Hotels has acquired the Standard and Bunkhouse brands, to be the core of a new lifestyle hotel division within the global hotel powerhouse.
Hyatt has agreed to pay an initial USD150m to acquire the Standard International business, bringing with it an immediate portfolio of 21 open hotels trading under a number of lifestyle brands, headed by the Standard and including hotel, restaurant and nightclub brands.
In addition, there is a strong pipeline of 30 projects, some of which are under construction and will open within the next year. Depending on the progress of these pipeline projects, Hyatt has agreed to pay additional sums up to a potential total of USD185m as its lifestyle portfolio grows.
Creating a new lifestyle studio
In addition to the hotels and pipeline projects, Hyatt will establish a new lifestyle hotel studio in New York. This will be headed by Standard International’s executive chairman, Amar Lalvani, who is a seasoned hotelier having established brands such as W Hotels, prior to growing Standard. Hyatt has said this new group will lead “experience creation, design, marketing, programming, public relations, restaurants, nightlife and entertainment” at the group’s lifestyle hotels.
It is not yet clear which other lifestyle brands from the existing Hyatt brand portfolio will also come under the influence of the new studio, though Hyatt has both Andaz and Caption as lifestyle brands. Its JdV boutique collection of hotels also contains properties with a lifestyle vibe.
Standard International has bloomed under the patronage of Thai investment company Sansiri, which bought into the company in 2017. While selling its stake in the business, Sansiri will retain ownership of several Standard properties, which will continue to operate in future under franchise or management agreements.
As well as the Standard and Bunkhouse brands, Standard International’s portfolio includes hotel brands Peri, StandardX, which has just launched in Melbourne, and the upcoming The Manner, which will launch in late 2024 in New York’s Soho district. Other food, beverage and entertainment brands include The Boom Boom Room, The Standard Grill, The Standard Biergarten, Café Standard, Lido Bayside Grill, Jo’s Coffee, Le Bain, Decimo, Sweeties, UP, Ojo and Sky Beach.
A strong opening roster
Joining the portfolio in the next year are The Standard, Pattaya Na Jomtien; The StandardX, Bangkok Phra Arthit; Saint Augustine in Houston, Texas, and Hotel Daphne, a 47 room new build, also in Houston. The group has also created a pipeline of branded residence projects with upcoming schemes in Miami, Lisbon, Phuket, Hua Hin and Mexico City.
Hotels scheduled to launch in 2025 include the Standard ZIN in North Brussels, part of the reimagining of the city’s World Trade Center. The hotel will have 200 rooms, and will sit alongside apartments, commercial and green space. It will be followed by the opening of another European property, Standard Lisbon.
