Hyatt Hotels Corporation has announced that it will be acquiring Standard International, the parent company of The Standard brand of hotels. This strategic move is aimed at enhancing Hyatt’s lifestyle offerings and expanding its presence in the boutique hotel market.
With this acquisition, Hyatt will gain access to The Standard’s portfolio of hotels in key markets such as Los Angeles, New York, and Miami. The Standard brand is known for its unique design, vibrant social spaces, and innovative culinary experiences, making it a perfect fit for Hyatt’s lifestyle division.
This acquisition is part of Hyatt’s ongoing efforts to diversify its offerings and appeal to a broader range of travelers. By adding The Standard to its portfolio, Hyatt will be able to offer guests a wider range of experiences and amenities, from luxury resorts to trendy boutique hotels.
“We are thrilled to welcome The Standard brand into the Hyatt family,” said Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. “This acquisition aligns perfectly with our strategy to grow our lifestyle division and cater to the evolving preferences of today’s travelers.”
The acquisition is expected to be completed in the second quarter of 2022, pending regulatory approval. Once finalized, The Standard will operate as a standalone brand within the Hyatt portfolio, maintaining its distinctive identity while benefiting from Hyatt’s global resources and expertise.
Overall, this acquisition marks a significant expansion for Hyatt in the lifestyle hotel sector and demonstrates the company’s commitment to innovation and growth in the hospitality industry. Travelers can look forward to more exciting and unique offerings from Hyatt as a result of this acquisition.
Source
Photo credit news.google.com