Hyatt Hotels Corporation has completed the acquisition of the brands and most of the affiliates of lifestyle hospitality company Standard International, the parent company of The Standard and Bunkhouse Hotels brands.

The 100% asset-light portfolio includes management, franchise and license contracts for 22 open hotels with approximately 2,000 rooms, including The Standard, London; The Standard, High Line in New York City; The Standard, Bangkok Mahanakhon; and The Manner in New York City’s SoHo neighborhood, which made its debut last month.

New properties slated to open later this year include The Standard, Singapore; Bunkhouse’s Hotel Saint Augustine in Houston; and The StandardX, Bangkok Phra Arthit. The acquisition also includes Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin, Mexico City and Tulum, as well as the completed Bunkhouse Residences at Hotel Saint Cecilia in Austin.

The acquisition includes more than 30 future projects with a signed agreement or letter of intent, along with new projects sparked by the August announcement of the planned acquisition.

“The development community knows an industry game-changer when they see it, and the enthusiasm for bringing together the ethos of The Standard and Bunkhouse brands and the power of Hyatt’s network and distribution system is palpable,” said Mark Hoplamazian, president/CEO, Hyatt. “Developers love this combination as much as we do.”

In the coming months, Hyatt will debut its previously announced dedicated lifestyle group that will be headquartered in New York City, with additional offices in Austin and Bangkok, and led by Amar Lalvani, president & creative director, and former executive chairman of Standard International.

“The lifestyle segment isn’t for the faint of heart; it takes creativity and commitment,” said Lalvani. “But if you get it right, you reap the benefits of outsized guest loyalty and outsized developer returns. The beauty of this combination is that Hyatt respects the creativity and freedom required to deliver the experiences we do, and we respect the value of Hyatt’s storied history, global infrastructure and best-in-class commercial services.”

Complementing its growth in lifestyle, Hyatt’s portfolio continues to grow across all segments. According to the company, Hyatt offers the largest collection of luxury all-inclusive resorts globally, and its select-service portfolio, which represents 50% of the pipeline as of the second quarter of 2024, is a key driver for bringing Hyatt-branded properties to new markets. In the coming months, Hyatt intends to announce a new dedicated luxury group with distinct leadership across key functions and services.

“Our transformation to an asset-light business model has been a resounding success, and now it’s time to evolve our organization to propel us into the future, benefiting our guests, members, customers, owners and shareholders along the way,” said Hoplamazian. “This is not about prioritizing one segment over another; this is about aligning our internal resources and expertise to care even more deeply for guests, customers and owners across our entire portfolio.”

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