Hyatt Hotels is acquiring the majority of the brands and affiliated companies of Standard International.
Standard International operates The Standard and Bunkhouse Hotel brands. This acquisition establishes a New York-based lifestyle group, taking over the management, franchising, and licensing agreements of 21 hotels in locations such as London, New York, and Bangkok. After the transaction is completed, it will be integrated into the World of Hyatt.
Amar Lalvani, Executive Chairman of Standard International, will become the President and Creative Director of the lifestyle group.
Sansiri, which had acquired a majority stake in Standard International in 2017, is selling its shares. Some properties will continue to be owned by Sansiri.
The purchase price is $150 million, with an additional $35 million added if the portfolio expands.
