Hyatt's Standard Acquisition Adds Properties in Bangkok and Singapore
Photo Credit: The Café Standard at The Standard, Singapore. Standard International
Skift Take
Hyatt Hotels Corporation has acquired Standard International's brands, expanding its asset-light portfolio in Asia with upcoming properties such as The Standard, Singapore, and The StandardX in Bangkok Phra Arthit, along with Standard Residences under development in Phuket and Hua Hin.
Hyatt Hotels Corporation has completed the acquisition of the brands and most of the affiliates of Standard International. This gives Hyatt 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. The acquisition also includes more than 30 future projects with a signed agreement or letter of intent and new projects Hyatt says were sparked by the August announcement of the planned acquisition. New properties slated to open later this year include The Standard, Singapore; Bunkhouse's Hotel Saint Augustine in Houston, Texas; and The StandardX, Bangkok Phra Arthit. The acquisition includes a robust residential business with Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin, Mexico City and Tulum as well as completed Bunkhouse Residences at Hotel Saint Cecilia, located in Austin, Texas.
Oxley Holding has entered
