Global hospitality company Hyatt Hotels Corporation has recently announced the completion of its acquisition of Standard International and its portfolio of lifestyle hotel brands. This strategic move is expected to further strengthen Hyatt’s position in the fast-growing lifestyle sector of the hospitality industry.
The acquisition includes The Standard, known for its unique design-driven properties in popular destinations such as Los Angeles, Miami, and New York. By adding these iconic and highly sought-after hotels to its portfolio, Hyatt aims to appeal to a broader range of travelers seeking unique and authentic experiences.
This acquisition also includes other lifestyle hotel brands under the Standard International umbrella, such as Bunkhouse Group and Hotel Andre Balazs, which will further expand Hyatt’s presence in the lifestyle hotel market. With the addition of these brands, Hyatt will have a more diverse offering for guests looking to experience something different from traditional hotel accommodations.
Hyatt’s President and CEO, Mark Hoplamazian, expressed excitement over the completion of the acquisition and described it as a significant step in the company’s strategy to expand its presence in the lifestyle hotel sector. He also emphasized the complementary nature of The Standard’s properties and how they align with Hyatt’s vision for delivering unique and personalized experiences to guests.
Overall, Hyatt’s acquisition of Standard International and its lifestyle hotel brands represents a strategic move to enhance its portfolio and cater to the evolving preferences of travelers seeking distinctive and memorable hospitality experiences. With this new addition, Hyatt is well-positioned to continue its growth in the competitive lifestyle hotel market.
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