강남일보

Hyatt Hotels Corporation (NYSE: H) today announced the planned acquisition (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fworld.hyatt.com%2Fcontent%2Fgp%2Fen%2Flanding%2Fstandard-international-announcement.html&esheet=54111731&newsitemid=20240820115363&lan=en-US&anchor=planned+acquisition&index=1&md5=a4f9584df06c45af437d453f0ba3ba37) of the brands and most of the affiliates of pioneering lifestyle company Standard International (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.stndintl.com%2F&esheet=54111731&newsitemid=20240820115363&lan=en-US&anchor=Standard+International&index=2&md5=9324fa3411a1361c6ad1aac9273bd7db), parent company of The Standard and Bunkhouse Hotels brands. This move enhances Hyatt’s position as the leader in the industry’s premier lifestyle space, building on both its organic growth and a series of acquisitions that quintupled the number of lifestyle rooms in Hyatt’s global portfolio between 2017 and 2023. The transaction is anticipated to close later this year, subject to customary closing conditions.

With this transaction, Hyatt will form a new dedicated lifestyle group that will be headquartered in New York City. Led by Standard International’s Executive Chairman Amar Lalvani, the lifestyle group will leverage Hyatt’s best-in-class operational and loyalty infrastructure while assuming distinct leadership across key functions including experience creation, design, marketing, programming, public relations, restaurants, nightlife and entertainment. The new lifestyle group will be made up of the talented Standard International team as well as Hyatt colleagues - more details about the lifestyle group will be shared following the closing of the transaction.

The planned acquisition will continue Hyatt’s evolution to a brand- and experience-driven company. The acquired portfolio will be 100 percent asset-light and includes management, franchise and license contracts for 21 open hotels with approximately 2,000 rooms, including The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon and boutique treasures like Hotel Saint Cecilia in Austin, Texas and Hotel San Crist