Hyatt Wants to Acquire Standard Hotels
Hyatt is in talks to acquire Standard Hotels. This is a group of boutique hotels with seven properties currently located in New York City (Meatpacking District and East Village), Miami Beach, London, Maldives, Ibiza, and Hua Hin, Thailand.
Standard’s brand was developed by Andre Balazs and is known for nightlife-forward properties, with one of the best examples being The Standard High Line Hotel in New York.
Negotiations between Hyatt and Standard are in advanced stages, according to sources with knowledge of the matter, as reported by Bloomberg. No transaction has been finalized and a deal could fall through, said one of the sources.
Hyatt has been on a shopping spree recently. It has acquired brands such as Alila, Thompson Hotels, the all-inclusive portfolio of Apple Leisure Group, Mr & Mrs Smith, and me and all hotels.
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