Hyatt In Talks to Acquire Standard Hotels
Hyatt is continuing its quest to add more properties through acquisitions, as it aims to close a deal with Standard Hotels.
Bloomberg (no pay-wall)reported on Wednesday that talks of an acquisition are in advanced stages, according to people with knowledge of the matter. The outlet added that “no transaction has been finalized and a deal could fall through”.
Standard’s brand is targeted at the younger crowd and is known for the nightlife. They have a limited footprint, with properties in New York City (Meatpacking District and East Village), Miami Beach, London, Maldives, Ibiza, and Hua Hin, Thailand.
The latest possible addition to the Hyatt portfolio comes after some noteworthy addition in recent years such as Alila, Thompson Hotels, the Apple Leisure Group portfolio of all-inclusive properties, Mr & Mrs Smith, and more recently, me and all hotels.
