Trinity Investments, Oaktree Capital Management and Partners Group have teamed up to acquire London luxury lifestyle hotel The Standard.
Located at 10 Argyle Street in Kings Cross, the hotel features 266 guestrooms & suites, six food & beverage offerings and a rooftop bar. In October, Hyatt completed its acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotel brands.
The deal marks Trinity’s second European acquisition following its April purchase of 138-key Park Hyatt Zurich. To date, the real estate investment firm has invested over €500 million in the UK and Europe hotel sector.
Speaking exclusively with Hospitality Investor earlier this year, Trinity’s managing partner Ryan Donn revealed an ambition to achieve €1.5 billion in European hotel investments within the next three years, noting that the company is exploring opportunities starting from the luxury and upper-upscale segments.
What they said
Ryan Donn, managing partner of Trinity Investments said: The Standard London has quickly become a cultural icon in one of London’s most dynamic neighbourhoods. We see huge potential to build upon this strong foundation by collaborating with Standard International, following its incorporation into the Hyatt family of brands and solidify the hotel’s position as a leading luxury lifestyle destination in Europe. The hotel is the perfect addition to Trinity’s quickly expanding portfolio in Europe.”
Benjamin Bianchi, managing director & head of Europe for Oaktree’s Real Estate group added: “This investment marks yet another milestone in our joint venture with Trinty and aligns with our confidence in the growth potential of Europe’s luxury lifestyle sector. Our long-standing partnership with Trinity dates to 2017, and we have since acquired nearly 5,000 hotel keys, representing close to $3 billion in asset value.
Stephen McCall, managing director at Partners Group added: “We are delighted to have the opportunity to acquire such an iconic hotel as we continue to build our focus on global hospitality as a priority investment theme. The Standard, London is our third acquisition with Trinity, and the first in Europe since we announced our strategic partnership in April.