As has been rumored in recent weeks, Hyatt Hotels Corp. is acquiring the lifestyle company Standard International, including The Standard and Bunkhouse Hotel brands. The deal is part of a broader push among the largest hotel companies to grow their lifestyle portfolios, with Hyatt quintupling its number of such rooms between 2017 and 2023. Most recently, Hilton made headlines with its acquisition of Graduate Hotels and controlling interest in NoMad Hotels. Hyatt's Standard deal is expected to close later this year.
The acquisition includes management, franchise and license contracts for 21 hotels, totaling approximately 2,000 rooms. Among the properties are The Standard, London; The Standard, High line in New York City; The Standard, Bangkok Mahanakhon; and boutique hotels such as the Hotel Saint Cecilia in Austin, Texas, and the Hotel San Cristóbol in Todos Santos, Baja California, Mexico. The properties will be integrated into the World of Hyatt once the deal closes.
New lifestyle division
As part of the agreement, Hyatt will launch a new lifestyle group, based in New York City and led by Standard International executive chair Amar Lalvani, who will become the president and creative director of the group, which will consist of the Standard team along with current Hyatt colleagues. They will take ownership of a number of functions in the lifestyle segment, among them experience creation, design, marketing, programming, public relations, restaurants, nightlife and entertainment. Once the transaction closes, Hyatt will release more details about the new group and the brands it includes.
Lalvani led the global development of W Hotels and was cofounder of The Standard brand, which launched in 2010. Three years later, Lalvani formed Standard International, acquiring the The Standard brand in full and a majority stake in the Bunkhouse Group.
"We waited a long time to find the right company with whom to join forces," said Lalvani. "In choosing Hyatt, we tap into a powerful global infrastructure and loyal guest base. I am very proud that our team has delivered on the potential we saw with The Standard and Bunkhouse Hotels, and am honored that Hyatt appreciates how special our brands, properties and — most importantly — our people are."
For Hyatt's part, the deal will transform its positioning in the lifestyle space. "The team behind Standard International has created a unique and award-winning portfolio of brands and properties that turn the status quo on its head, and have attracted a loyal following among the most discerning lifestyle guests for the past 25 years," effused Hyatt president and CEO Mark Hoplamazian. "These properties truly drive the zeitgeist, creating destinations unto themselves with celebrated and talked-about programming and events, such as the Met Gala after party. We are thrilled to welcome Standard International’s properties and team to the Hyatt family with the newly created lifestyle group and draw on their brilliance, creativity, culture and innovation."
A broad brand portfolio
Standard has been expanding its family of brands. In addition to The Standard and Bunkhouse Hotels, it recently launched The StandardX with the opening of the inaugural property in Melbourne, Australia. The Manner launches next month in SoHo in New York City.
The company's restaurant and nightlife brands include The Boom Boom Room, The Standard Grill, The Standard Biergarten, Café Standard, Lido Bayside Grill and Jo's Coffee, along with the rooftop venues Le Bain, Decimo, Sweeties, UP, Ojo and Sky Beach.
More than 30 projects are in the pipeline, including a number scheduled to debut in the next 12 months — including, in Thailand, The Standard, Pattaya Na Jomtien, and The StandardX, Bangkok Phra Arthit. In Texas, the Bunkhouse Hotels Saint Augustine and the Hotel Daphne also will debut soon.
