Hyatt in advanced talks to buy Standard hotels brand

HYATT Hotels is nearing a deal to buy boutique hotel operator Standard International, continuing a run of acquisitions that has helped Hyatt add luxury properties in leisure destinations.

Negotiations between Hyatt and Standard – which operates properties in London, Ibiza, the Maldives and Melbourne, among other places – are in advanced stages, according to sources with knowledge of the matter. No transaction has been finalised and a deal could fall through, said one of the sources, asking not to be named because the talks are private.

A spokesperson for Hyatt declined to comment on the talks, but said the company remains committed “to asset-light growth through both organic growth and strategic acquisitions”. A representative for Standard International, which counts Thai real estate firm Sansiri as an investor, did not have an immediate comment.

Hyatt, led by chief executive officer Mark Hoplamazian, has been an active acquirer in recent years, purchasing brands such as Alila, Thompson Hotels and the all-inclusive portfolio of Apple Leisure Group. Those deals have helped speed Hyatt’s shift to a business model that revolves around licensing brands to third-party investors, while also populating the company’s system with aspirational hotels that help attract loyalty members.

Standard’s brand was developed by Andre Balazs and is known for nightlife-forward properties including the hotel straddling New York’s High Line. BLOOMBERG