Hyatt in Talks to Buy Standard International
Photo Credit: Living space in a room at the StandardX in Melbourne, Australia. Standard International
Skift Take
While The Standard International gets ready to open its first StandardX property, it's also in advanced stages as a takeover target by Hyatt.
STR reported China hotel data for the week ended July 13. China hotel RevPAR was down -13% year over year. It was up against a +40.6% comp result in 2023. Hotel occupancy for the week was down -3.6% year over year.
The Macao Government Tourism Office said the number of visitor arrivals the first six months of this year was about 16,729,000, an average daily number of 921,918. That is up 43.6% from the same period in 2023 but is still only 82.5% of the first half of 2019 levels. 1.17 million of the visitors were foreign, only 67.2% of pre-Covid levels. The average hotel occupancy rate in the first six months of 2024 was 84.3%, down 7.2 percentage points from 2019 but there are more hotel rooms now.
The opening date of the first Australian hotel from The Standard has been announced. StandardX Melbourne will launch in Fitzroy on August 8th. This will be the world debut of the group's StandardX brand, described as the "rebellious younger sibling
