Hyatt Nears Deal to Acquire Standard International

Hyatt Hotels Corporation is in advanced negotiations to acquire boutique hotel operator Standard International, known for its high-end properties in locations like London, Ibiza, the Maldives, and Melbourne. While no financial details have been disclosed and the deal is not yet finalized, this acquisition would align with Hyatt's strategy of expanding its luxury portfolio through strategic acquisitions. Standard International, initially developed by Andre Balazs and now led by CEO Amber Asher, has been rapidly expanding and plans to open up to a dozen new hotels in the next five years. This potential acquisition follows Hyatt's recent purchases of other luxury brands, demonstrating its commitment to an 'asset-light' growth model focused on licensing brands to third-party investors.