Hyatt Close To Acquiring Standard Hotels

In a major development in the hospitality industry, Hyatt Hotels Corporation is reportedly close to acquiring Standard Hotels, a popular luxury hotel chain known for its boutique properties in major cities around the world. The acquisition deal is valued at around $450 million, according to sources familiar with the matter.

Standard Hotels, which was founded in 1991, operates 10 properties across the United States, England, and Mexico, including the iconic Standard Hotel in Hollywood, California, and the Standard Hotel in New York City. The chain is known for its trendy, design-focused hotels that cater to the millennial crowd, with amenities such as rooftop pools, bars, and restaurants.

Hyatt, one of the world’s largest hotel chains, has been expanding its portfolio in recent years through strategic acquisitions and openings. The addition of Standard Hotels would further strengthen its presence in the luxury segment, particularly in the upscale urban markets.

The acquisition would also bring Hyatt’s global portfolio to over 875 hotels across 60 countries, making it one of the largest hospitality companies in the world. The deal is expected to be completed in the next few months, subject to regulatory approvals and other customary conditions.

Industry analysts believe that the acquisition would benefit both parties. Hyatt would gain access to Standard Hotels’ strong brand reputation and loyal customer base, while Standard Hotels would benefit from Hyatt’s global distribution network and operational expertise.

“This acquisition would be a strategic move for Hyatt, as it would allow them to expand their presence in the luxury segment and tap into the growing demand for experiential travel,” said Mark Woodworth, a hospitality industry analyst at Cowen and Company.

For Standard Hotels, the acquisition would provide a new platform for growth and expansion, while also giving the company access to Hyatt’s resources and expertise in areas such as technology and hotel operations.

The acquisition would also mark a significant shift in the hotel industry, as larger chains continue to consolidate and acquire smaller, independent brands. The trend is expected to continue in the coming years, as hotel chains seek to expand their presence and increase their market share.

In conclusion, the potential acquisition of Standard Hotels by Hyatt would be a major development in the hospitality industry, marking another significant milestone in the company’s growth trajectory. As the hospitality industry continues to evolve, it will be exciting to see how this deal plays out and what it means for the future of travel and hospitality.