Hyatt adds 21 Standard hotels in the lifestyle segment

American Hyatt has added 21 lifestyle hotels to its portfolio from Standard International, the parent company of The Standard and Bunkhouse Hotels brands. This acquisition includes 100% of the assets and includes management, franchise and license agreements.

The hotels will represent approximately 2,000 rooms for Hyatt, which will be managed by a new group of the Hotel chain dedicated specifically to “lifestyle”, which will operate in New York and will be integrated into World of Hyatt to make this new acquisition available to the 48 million members of the loyalty program, as reported by Desarrollo.

The new group will be chaired by Standard International CEO Amar Lalvani, with key roles “including experience creation, design, marketing, programming, public relations, restaurants, nightlife and entertainment,” the company said in a statement.

“The planned acquisition will continue Hyatt’s trend of becoming a brand- and experience-driven company,” Hyatt said, noting that it includes The Standard London, The Standard High Line in New York, The Standard Bangkok Mahanakhon and boutique treasures such as Hotel Saint Cecilia in Austin, Texas, and Hotel San Cristobal in Baja California, Mexico.

As reported by REPORTUR.usthe results of the Hotel chains Hyatt and IHG have surpassed Marriott and Hilton in margins during the first half of the year. Hyatt obtained revenues of 3,444 million dollars and profits of 887 million dollars, that is, it achieved 26% profitability, while IHG, with revenues of 2,343 million dollars and profits of 528 million dollars, obtained 23% margin. (Hyatt and IHG surpass Marriott or Hilton in margins).