Hyatt Hotels is in advanced stages of a negotiation to acquire boutique hotel operator Standard International, according to reports from Bloomberg.
Standard International – which is behind the Standard brand of hotels - operates properties across the world including in New York, Bangkok, London, Melbourne and Ibiza,
This comes as Hyatt continues to add luxury properties in leisure destinations, for example its £53 million acquisition of luxury hotel booking platform Mr & Mrs Smith. The company’s growth journey has also seen it acquire Dream Hotel Group for $125 million and Germany’s Lindner Hotels, both in 2022.
Both Hyatt and Standard declined to comment.