Hyatt Acquires Standard Hotels Parent Company for Up to $335 Million

Hyatt is continuing its rapid growth, this time with another acquisition.

On Tuesday, the hotel company announced that it had agreed to acquire Standard International, the parent company of The Standard and Bunkhouse Hotels brands, for up to $335 million. The deal is expected to close later this year.

The Standard brand has boutique hotels across some major cities, including a couple of hotels in New York City (one on the High Line and one in the East Village) and others in Bangkok, London, Miami Beach, Ibiza, the Maldives, Singapore, Melbourne, and Hua Hin. Bunkhouse has smaller, more eccentric hotels in Texas, California, and Mexico.

There are also a few other brands in The Standard Portfolio, including StandardX, Peri Hotels, and The Manner brands, along with some other restaurant and lifestyle concepts.

“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,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt.

All of the current properties will join the World of Hyatt portfolio once the deal closes. The contract also includes more than 30 upcoming hotels, including new Standard hotels in Pattaya Na Jomtien and Bangkok Phra Arthit, along with new Bunkhouse hotels in Saint Augustine and Houston, all of which are expected to open over the next 12 months.

With the acquisition, Hyatt is also planning on creating a new lifestyle group, headquartered in New York City, that will be led by Standard’s Executive Chairman Amar Lalvani.