Hyatt Hotels Corporation has completed the acquisition of Standard International, parent company of The Standard and Bunkhouse Hotels brands. This acquisition enhances Hyatt’s position in the lifestyle segment, adding well-known boutique and lifestyle hotels to its growing portfolio.

The acquisition includes management, franchise, and licensing contracts for 22 hotels, totaling about 2,000 rooms, such as The Standard, London, The Standard, High Line in New York City, and The Standard, Bangkok Mahanakhon. The acquisition also adds The Manner, a new lifestyle hotel in SoHo, New York, which recently opened and hosted several New York Fashion Week afterparties. Other properties set to open later this year include The Standard, Singapore; Hotel Saint Augustine in Houston; and The StandardX, Bangkok.

Standard International’s robust residential business is also part of the acquisition. Currently, Standard Residences are under development in cities like Miami, Lisbon, and Mexico City, while completed Bunkhouse Residences include Hotel Saint Cecilia in Austin, Texas.

Mark Hoplamazian, President and CEO of Hyatt, commented, "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. Developers love this combination as much as we do."

The acquisition also includes more than 30 future projects with signed agreements or letters of intent. To support this growing segment, Hyatt plans to introduce a dedicated Lifestyle group headquartered in New York City, with additional offices in Austin and Bangkok. Amar Lalvani, former Executive Chairman of Standard International, will lead the new Lifestyle group as President & Creative Director.

“The lifestyle segment isn’t for the faint of heart, it takes creativity and commitment,” Lalvani said. “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.”

In addition to its focus on the lifestyle segment, Hyatt continues expanding across other areas. The company has the largest collection of luxury all-inclusive resorts globally, and its select service portfolio represents half of its pipeline, driving the expansion of Hyatt-branded properties into new markets. Hyatt also plans to announce a dedicated luxury group with distinct leadership focusing on delivering exceptional services for guests at the luxury level.

“Our transformation to an asset-light business model has been a resounding success, and now it’s time to evolve our organization to propel us into the future, benefiting our guests, members, customers, owners and shareholders along the way,” added Hoplamazian. “This is not about prioritizing one segment over another; this is about aligning our internal resources and expertise to care even more deeply for guests, customers and owners across our entire portfolio.”

Since 2017, Hyatt’s brand portfolio has grown by 86%, tripling the number of World of Hyatt members. This growth has also increased room night penetration for members, reflecting the effectiveness of Hyatt's expansion strategy.

Image Credits: Hyatt