Singapore and Thailand will see a lot more of Hyatt’s newly acquired The Standard brand after announcing its new dedicated Lifestyle group will be headquartered in New York City with additional offices in Austin, Texas, and Bangkok
New properties slated to open later this year include The Standard, Singapore, and The StandardX, Bangkok Phra Arthit.
Hyatt’s 100% asset-light acquisition of Standard International’s brands, The Standard and Bunkhouse Hotels, includes management, franchise and licence contracts for 22 open hotels with approximately 2,000 rooms, including The Standard, London, The Standard, High Line in New York City and The Standard, Bangkok Mahanakhon.
The acquisition includes a residential business with Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin and Mexico City.
“The development community knows an industry game-changer when they see it, and the enthusiasm for bringing together the ethos of The Standard and Bunkhouse brands and the power of Hyatt's network and distribution system is palpable,” said Mark Hoplamazian, president and chief executive, Hyatt.
In the coming months, Hyatt will debut its new dedicated Lifestyle group led by president and creative director Amar Lalvani, former executive chairman of Standard International.
“The lifestyle segment isn't for the faint of heart, it takes creativity and commitment,” said Lalvani. “If you get it right, you reap the benefits of outsized guest loyalty and outsized developer returns.”