Hyatt Hotels Corporation has recently announced its plans to acquire Standard International, a hospitality company known for its trendy and innovative lifestyle hotels. This acquisition will further enhance Hyatt’s existing portfolio of lifestyle offerings, allowing the company to expand its reach in the lifestyle segment of the hospitality industry.
Standard International was founded in 2006 by hotelier Andre Balazs and has since grown into a globally recognized brand with hotels in popular destinations such as New York, Miami, and London. The company is known for its unique design aesthetic, personalized service, and vibrant social scenes, making it a popular choice among modern travelers seeking innovative and experiential accommodations.
With the acquisition of Standard International, Hyatt aims to tap into the growing demand for lifestyle hotels and cater to a new generation of travelers who value unique experiences and personalized service. By integrating Standard International’s design-centric approach and vibrant atmosphere into its existing portfolio, Hyatt hopes to attract a broader range of guests and strengthen its position in the competitive hospitality market.
“We are thrilled to welcome Standard International and its talented team into the Hyatt family,” said Mark Hoplamazian, President and CEO of Hyatt. “Standard International’s distinctive approach to hospitality has resonated with travelers around the world, and we believe that their innovative spirit and commitment to excellence will complement Hyatt’s existing offerings.”
The acquisition is expected to be completed in the fourth quarter of 2021, pending regulatory approval. Once finalized, Hyatt will have the opportunity to leverage Standard International’s expertise in lifestyle hospitality to enhance its overall guest experience and grow its presence in key markets worldwide.
Overall, the acquisition of Standard International represents a strategic move for Hyatt as the company continues to expand its lifestyle offerings and adapt to the evolving preferences of modern travelers. By combining forces with Standard International, Hyatt is well-positioned to meet the changing demands of the hospitality industry and attract a new generation of guests looking for unique and memorable experiences.
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