World of Hyatt adds five more brands to its portfolio with the planned acquisition of the brands and most of the affiliates of pioneering lifestyle hospitality company Standard International by Hyatt Hotels Corporation for a base purchase price of $150 million, bringing its total number of brands to 34.
World of Hyatt Adds Five More Brands To Its Portfolio
The brands of Standard International include The Standard Hotels, Bunkhouse Hotels, and Peri Hotels — as well as The StandardX and The Manner, which are the newest brands, which will initially add 21 open hotel properties to the existing portfolio of greater than 1,350 hotel properties of Hyatt Hotels Corporation.
“The planned acquisition will continue Hyatt’s evolution to a brand- and experience-driven company”, according to this announcement which was posted at the official Internet web site of Hyatt Hotels Corporation yesterday, Tuesday, August 20, 2024. “The acquired portfolio will be 100 percent asset-light and includes management, franchise and license contracts for 21 open hotels with approximately 2,000 rooms, including The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon and boutique treasures like Hotel Saint Cecilia in Austin, Texas and Hotel San Cristóbal in Baja California, Mexico. Following the closing of the transaction, Hyatt plans to integrate these hotels into World of Hyatt, bringing this portfolio of celebrated lifestyle properties to the program’s 48 million loyalty members.”
Additional hotel and resort properties expected to open during the next year in such destinations as Singapore, Lisbon, Mexico City, Brussels, Pattaya, and Houston.
Final Boarding Call
No definitive date has been set as to when the hotel properties of the brands of Standard International will formally participate in the World of Hyatt membership program — but members will eventually be able to earn and redeem points at these properties; and also receive benefits during their stays.
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One location of The Standard is at the High Line in the city of New York. Photograph ©2022 by Brian Cohen.
