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Last month, I wrote about speculation that Hyatt could be acquiring The Standard and Bunkhouse Hotels. The rumor was true as Hyatt announced the purchase today. This will add 21 hotels with approximately 2,000 rooms to Hyatt’s growing portfolio.
Hotels included in the acquisition include properties like The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon, and boutique properties like Hotel Saint Cecilia in Austin and Hotel San Cristóbal in Mexico. The Standard’s brand was developed by Andre Balazs. It’s known for the nightlife at its hotels and Leonardo DiCaprio, Cameron Diaz, and Benicio del Toro were early investors.
Mark Hoplamazian, President and Chief Executive Officer at Hyatt, said:
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. These properties truly drive the zeitgeist, creating destinations unto themselves with celebrated and talked-about programming and events, such as the Met Gala afterparty. 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.”
In addition to The Standard and Bunkhouse Hotels brands, Standard International’s brand portfolio includes Peri Hotels and its two newest additions, The StandardX, which launched this month in Australia, and The Manner, which launches next month in Soho in time for New York Fashion Week. Beyond its hotel brands, the portfolio includes restaurant and nightlife concepts like The Boom Boom Room, The Standard Grill, The Standard Biergarten, Café Standard, Lido Bayside Grill, Jo’s Coffee, as well as several iconic rooftop venues including Le Bain, Decimo, Sweeties, UP, Ojo, and Sky Beach.
Hyatt will pay a base purchase price of $150 million (with up to an additional $185 million over time as additional properties enter the portfolio). The acquisition includes more than 30 projects with a signed agreement or letter of intent, including new properties expected to open over the next 12 months. All of these properties will be integrated into Hyatt’s World of Hyatt loyalty program.
Anthony’s Take: This seems like a good fit for Hyatt’s portfolio. We’ll have to see how these properties are integrated and at what categories. I’d love to earn World of Hyatt points while staying near the Highline.
(Image Credits: The Standard and Bunkhouse Hotels.)
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Advertiser & Editorial Disclosure: The Bulkhead Seat earns an affiliate commission for anyone approved through the links above This compensation may impact how and where links appear on this site. We work to provide the best publicly available offers to our readers. We frequently update them, but this site does not include all available offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
