Trinity, partners acquire Standard in London

LONDON – Trinity Investments, in partnership with Oaktree Capital Management and Partners Group have acquired the 266-room Standard London for a reported £185 million from private equity fund manager Crosstree Real Estate.

The acquisition marks Trinity's second investment in Europe since opening their London office in July 2023, following the April purchase of the Park Hyatt Zurich. To date Trinity has invested more than €550 million ($580 million) in hotels in Europe and the U.K., making them one of the largest acquirers of single asset hotels in Europe this year.

The Standard in London at King’s Cross was the brand’s first international hotel when it opened in 2019 and now sits in the Hyatt Hotels Corp. portfolio after the August deal for the 22-hotel portfolio that includes the Bunkhouse Hotel brand. Standard has a global pipeline of some 30 hotels.

Crosstree bought the property in 2014 for a reported £40 million, converting it from offices to a hotel with restaurants and a rooftop bar.

“This hotel has quickly become a cultural icon in one of London’s most dynamic neighborhoods,” said Ryan Donn, managing partner of Trinity Investments in London. “We see huge potential to build upon this strong foundation by collaborating with Standard International, following its incorporation into the Hyatt family of brands, and solidify the hotel’s position as a leading luxury lifestyle destination in Europe. The hotel is the perfect addition to Trinity’s quickly expanding portfolio in Europe.”

“This investment marks yet another milestone in our joint venture with Trinity and aligns with our confidence in the growth potential of Europe’s luxury lifestyle sector. Our long-standing partnership with Trinity dates to 2017, and we have since acquired nearly 5,000 hotel keys, representing close to $3 billion in asset value,” said Benjamin Bianchi, managing director and head of Europe for Oaktree’s Real Estate group. “It also highlights the strength of our ownership model and our ability to repeatedly collaborate with global brands such as Hyatt, strategically investing in the property and its operations to fully realize the potential of a flag like The Standard.”

The Standard in London is Swiss private equity firm Partners Group’s third acquisition with Trinity, and the first in Europe since they announced a strategic partnership in April. Partners is investing $500 million in the hotel market in the Trinity joint venture. “The speed with which Trinity has been able to establish its presence in Europe is a testament to the quality of their team and further reinforces our conviction in this partnership and the sector,” said Stephen McCall, managing director at Partners Group.