Hyatt Hotels to Acquire Standard International

Hyatt Hotels Corporation has announced its acquisition of Standard International, the parent company of lifestyle brands such as The Standard and Bunkhouse Hotels, for a base price of $150 million, potentially rising to $335 million. The deal, which does not include physical assets but rather management and franchise contracts for 21 properties, is set to close later this year. Amar Lalvani, the executive chairman of Standard International, will lead a newly formed lifestyle group within Hyatt, focusing on brand integration and growth. This acquisition aligns with Hyatt's strategy to expand its lifestyle offerings and capitalize on its award-winning World of Hyatt loyalty program. The company recently completed a significant asset sale, further supporting its capital allocation strategy aimed at accelerating growth through asset-light platforms. The integration of these new brands is expected to enhance Hyatt's position in the competitive lifestyle hotel market.