Hyatt Eyes Acquisition of Boutique Hotel Operator Standard International

Expanding Hyatt’s Portfolio

Hyatt has significantly increased its luxury and resort offerings since 2017, and is now in advanced talks to acquire Standard International, a renowned boutique hotel operator. This potential acquisition, reported by Bloomberg, remains tentative with no financial details disclosed as both companies stay tight-lipped. Hyatt’s spokesperson and Standard International’s VP of communications have declined to comment on the ongoing discussions.

The Legacy of Standard Hotels

Founded by hotelier Andre Balazs, the Standard Hotel brand is famous for its trendy, celebrity-attracting properties. The first Standard Hotel opened in 1999 on Hollywood’s Sunset Strip, with high-profile investors like Leonardo DiCaprio and Cameron Diaz. Although that property closed in 2021, the brand continues to thrive. Earlier this month, Madonna headlined a dance party at Le Bain, the rooftop bar at The Standard, High Line in Manhattan.

Under CEO Amber Asher, appointed in 2021, Standard International has been expanding rapidly. The company’s portfolio includes about 20 hotels under the Standard Hotels, Bunkhouse, and The Peri Hotel brands, with locations in major cities like London, New York City, Ibiza, Miami, and the Maldives. New properties are set to open this year in Melbourne, Singapore, and Lisbon, with future openings planned in Dublin and Brussels.

Future Growth Plans

Standard International aims to open up to a dozen new hotels in the next five years in locations such as Brooklyn, Austin, Mexico, Vancouver, Vienna, Khao Yai, Nashville, and Pattaya. Hyatt has also been expanding globally, with its pipeline growing nearly 85% since 2017 to a record 129,000 rooms, particularly focusing on high-end properties.

Recent Hyatt Acquisitions

Hyatt’s recent acquisitions include the ‘me and all hotels’ brand from Lindner Hotels, encompassing six properties and over one thousand rooms in Germany. Hyatt has also integrated Lindner Hotels & Resorts and ‘me and all hotels’ into the World of Hyatt loyalty program. Other notable acquisitions include lifestyle-centric Two Roads Hospitality in 2018 for $480 million and the all-inclusive Apple Leisure Group in 2021 for $2.7 billion, followed by luxury resort brand Dream Hotel Group for $300 million in 2022.