Hyatt Expands Portfolio with Standard International Purchase

Standard International, The Standard, and Bunkhouse Hotels Join Hyatt

Hyatt Hotels Corporation has completed the acquisition of the brands and most of the affiliates of the lifestyle hospitality company Standard International, which owns The Standard and Bunkhouse Hotels brands. This acquisition strengthens Hyatt’s position in the lifestyle segment of the industry. It is a part of Hyatt’s strategy for growth, which includes both organic expansion and a series of acquisitions that have significantly increased the number of lifestyle rooms in Hyatt’s global portfolio between 2017 and 2023.

The portfolio consists of 22 hotels with about 2,000 rooms. These include The Standard in London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon, and The Manner in SoHo. The Manner recently debuted with some of New York Fashion Week’s afterparties. New properties set to open this year include The Standard in Singapore, Bunkhouse’s Hotel Saint Augustine in Houston, and The StandardX in Bangkok Phra Arthit, all offering the immersive experiences Standard International’s brands are known for. The acquisition also includes a strong residential business with Standard Residences being developed in Miami, Lisbon, Phuket, Hua Hin, Mexico City, and Tulum, as well as completed Bunkhouse Residences at Hotel Saint Cecilia in Austin, TX. The acquisition includes more than 30 future projects with a signed agreement or letter of intent, along with new projects sparked by the August announcement of the planned acquisition.

“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 Chief Executive Officer, Hyatt. “Developers love this combination as much as we do.”

In the coming months, Hyatt will debut its new dedicated Lifestyle group, headquartered in New York City with additional offices in Austin and Bangkok. It will be led by President & Creative Director Amar Lalvani, former Executive Chairman of Standard International.

“The lifestyle segment isn’t for the faint of heart, it takes creativity and commitment,” said Lalvani. “But if you get it right, you reap the benefits of outsized guest loyalty and 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.” 

Hyatt's portfolio continues to expand across all segments, reflecting its lifestyle growth. With the most extensive collection of luxury all-inclusive resorts worldwide, Hyatt is making significant strides. Additionally, the select service portfolio, accounting for 50% of Hyatt's pipeline as of the second quarter of 2024, is crucial in introducing Hyatt-branded properties to new markets. Shortly, Hyatt plans to introduce a new dedicated luxury group with distinct leadership, focusing on providing exceptional care and services to guests and customers at the highest level of luxury.

“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,” said 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.” 

The expansion of Hyatt's brand presence is directly linked to the increase in loyal members and their contributions. Since 2017, the number of properties in Hyatt’s portfolio has grown by 86 percent, the number of World of Hyatt members has tripled, and the room night penetration for World of Hyatt members has increased by more than 1,300 basis points.