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- Hyatt Hotels to Acquire Standard International, Expanding Lifestyle Portfolio
Hyatt Hotels to Acquire Standard International, Expanding Lifestyle Portfolio
Slice of Real Estate Team
August 22, 2024
Key Highlights:
Hyatt to acquire Standard International’s brands and affiliates.
New dedicated lifestyle group to be formed, led by Amar Lalvani.
21 open hotels with 2,000 rooms to join World of Hyatt loyalty program.
Transaction expected to close by the end of the year.
Source (Business Wire)
Notable Quotes:
"These properties truly drive the zeitgeist, creating destinations unto themselves with celebrated and talked-about programming and events, such as the Met Gala afterparty."
"We waited a long time to find the right company with whom to join forces. In choosing Hyatt, we tap into a powerful global infrastructure and loyal guest base."
Our Take:
Hyatt's acquisition of Standard International is a strategic move that solidifies its leadership in the lifestyle hospitality space. By integrating the iconic brands of Standard International into its portfolio, Hyatt not only expands its global reach but also enhances its ability to deliver unique and experiential offerings to its guests. The formation of a dedicated lifestyle group under the leadership of Amar Lalvani signals Hyatt's commitment to innovation and creativity in the hospitality industry. This acquisition is poised to offer significant value to Hyatt's brand portfolio and its loyal customer base, making it a transformative moment for both companies.