Hyatt bidding for Standard International: Report

CHICAGO/NEW YORK CITY - Another small but high-profile bolt-on acquisition deal could be in the works with news circulating that Hyatt Hotels Corp. is in advanced talks to acquire lifestyle company Standard International, which in 2017 received a $58 million investment from Bangkok-based Sansiri Public Co. Ltd.

Bloomberg was the first to report the news, citing people familiar with the matter, who said the deal remains a work in progress.

A Hyatt spokesperson told Hotel Investment Today on Thursday morning, “As a matter of policy, we don’t comment on questions of this nature. We remain committed to asset-light growth through both organic growth and strategic acquisitions but have nothing new to share at this time.”

A Standard International spokesperson said, “We have no comment at this time. We're focused on creating the best experiences for our guests and opening exciting new hotels as well as two brands (Singapore, Melbourne, Brussels, NYC, Pattaya, Lisbon). We routinely evaluate potential partnerships that could expand our footprint and provide new opportunities for our teams. We’ll share news, if any, as soon as it’s available.”

Standard, with some 20 hotels in its portfolio, has its namesake brand Standard Hotels, StandardX, as well as Bunkhouse and The Peri Hotel. Just last month, Standard Executive Chairman Amar Lalvani was touting the launch of a luxury brand called The Manner with a 97-room hotel in New York City’s SoHo neighborhood expected to open in September.

In January, Standard said they will tentatively have 30 hotels open (3,124 rooms) by the end of 2025.

The report surfaces as Hyatt continues its move toward an asset-light model and after it made news last month acquiring the 'me and all hotels' brand from Germany's Lindner Hotels.

Hyatt has also made news over the past few years with its 2023 acquisition of a similarly sized lifestyle brand, Dream Hotel Group, its 2021 deal for all-inclusive player Apple Leisure Group and in 2018 it finalized the acquisition of Two Roads Hospitality, adding lifestyle Alila, Destination, Joie de Vivre, Thompson and Tommie brands.

The Standard was developed by hotelier Andre Balazs with the first hotel opening in 1999 on Los Angeles’ Sunset Strip. Today, New York-based Standard International is led by CEO Amber Asher and in February it announced expansion into Brussels, Lisbon, and Dublin. Standard has also moved into the branded residence business with developments ongoing in Miami, Lisbon, Phuket and Hua Hin.