Hyatt Shares Plans to Acquire Standard International
Lifestyle CHICAGO, IllinoisHyatt Hotels Corporation announced the planned acquisition of the brands and most of the affiliates of lifestyle company Standard International, the parent company of The Standard and Bunkhouse Hotels brands. This move builds on Hyatt’s organic growth and acquisitions that quintupled the number of lifestyle rooms in Hyatts global portfolio between 2017 and 2023. The transaction is anticipated to close later this year, subject to customary closing conditions.With this transaction, Hyatt will form a new dedicated lifestyle group that will be headquartered in New York City. Led by Standard International’s Executive Chairman Amar Lalvani, the lifestyle group will leverage Hyatt’s operational and loyalty infrastructure while assuming leadership across functions including experience creation, design, marketing, programming, public relations, restaurants, nightlife, and entertainment. The new lifestyle group will be made up of the Standard International...
