The asset-light portfolio consists of management, franchise, and license agreements for 22 hotels, totalling around 2,000 rooms, including prominent properties like The Standard in London, New York City, and Bangkok, as well as The Manner in SoHo, which recently debuted during New York Fashion Week. Upcoming openings this year feature The Standard in Singapore, Bunkhouse’s Hotel Saint Augustine in Houston, and The StandardX in Bangkok. The acquisition also includes a growing residential business with Standard Residences under development in Miami, Lisbon, Phuket, and other global cities, along with completed Bunkhouse Residences in Austin, Texas.
The acquisition includes over 30 future projects with a signed agreement or letter of intent, along with new projects sparked by the August announcement of the planned acquisition. In the coming months, Hyatt will debut its new dedicated Lifestyle group to be headquartered in New York City with offices in Austin and Bangkok led by President and Creative Director Amar Lalvani, former Executive Chairman of Standard International.
Hyatt’s portfolio continues to grow across all segments with a large collection of luxury all-inclusive resorts globally, and Hyatt’s select service portfolio which represents 50% of its pipeline as of the second quarter this year. In the coming months, Hyatt intends to announce a new dedicated luxury group with distinct leadership across key functions and services focused on caring for guests and customers at the pinnacle of luxury.
“Our transformation to an asset-light business model has been a resounding success, and now it’s time to evolve our organisation to propel us into the future, benefiting our guests, members, customers, owners and shareholders along the way,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. “This is not about prioritising one segment over another; this is about aligning our internal resources and expertise to care even more deeply for guests, customers and owners across our entire portfolio.”
Hyatt’s brand expansion has led to significant growth in its loyalty program. Since 2017, the number of properties has increased by 86%, and the number of World of Hyatt members has tripled. Additionally, room night penetration from loyalty members has risen by over 1,300 basis points, highlighting a strong correlation between brand growth and member engagement.
