Recently opened The Manner sets a new standard
for lifestyle hotels in SoHo, New York; The Standard, Singapore;
Hotel Saint Augustine in Houston and The StandardX, Bangkok are
slated to open this year
Hyatt Hotels Corporation (NYSE: H) today announced the completed
acquisition of the brands and most of the affiliates of pioneering
lifestyle hospitality company Standard International, parent
company of The Standard and Bunkhouse Hotels brands. This
acquisition enhances Hyatt’s leading position in the industry’s
premier lifestyle segment, building on both Hyatt’s organic growth
and a series of acquisitions that quintupled the number of
lifestyle rooms in Hyatt’s global portfolio between 2017 and
2023.
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The Manner, SoHo in New York (Photo:
Business Wire)
The 100% asset-light portfolio includes management, franchise
and license contracts for 22 open hotels with approximately 2,000
rooms, including The Standard, London, The Standard, High Line in
New York City, The Standard, Bangkok Mahanakhon and The Manner in
SoHo, which made its highly anticipated debut last month with some
of New York Fashion Week’s most coveted afterparties. New
properties slated to open later this year include The Standard,
Singapore, Bunkhouse’s Hotel Saint Augustine in Houston, and The
StandardX, Bangkok Phra Arthit, offering the immersive experiences
Standard International’s brands are known to deliver. The
acquisition includes a robust residential business with Standard
Residences under development in Miami, Lisbon, Phuket, Hua Hin,
Mexico City and Tulum as well as completed Bunkhouse Residences at
Hotel Saint Cecilia in Austin, TX.
The acquisition includes more than 30 future projects with a
signed agreement or letter of intent, along with new projects
sparked by the August announcement of the planned acquisition. “The
development community knows an industry game-changer when they see
it, and the enthusiasm for bringing together the ethos of The
Standard and Bunkhouse brands and the power of Hyatt’s network and
distribution system is palpable,” said Mark Hoplamazian, President
and Chief Executive Officer, Hyatt. “Developers love this
combination as much as we do.”
In the coming months, Hyatt will debut its new dedicated
Lifestyle group that will be headquartered in New York City with
additional offices in Austin and Bangkok and led by President &
Creative Director Amar Lalvani, former Executive Chairman of
Standard International. “The lifestyle segment isn’t for the faint
of heart, it takes creativity and commitment,” said Lalvani. “But
if you get it right, you reap the benefits of outsized guest
loyalty and outsized developer returns. The beauty of this
combination is that Hyatt respects the creativity and freedom
required to deliver the experiences we do, and we respect the value
of Hyatt’s storied history, global infrastructure and best-in-class
commercial services.”
Complementing its growth in lifestyle, Hyatt’s portfolio
continues to grow across all segments. Hyatt boasts the largest
collection of luxury all-inclusive resorts globally, and Hyatt’s
select service portfolio, which represents 50% of Hyatt’s pipeline
as of the second quarter of 2024, is a key driver for bringing
Hyatt-branded properties to new markets. 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 organization to
propel us into the future, benefiting our guests, members,
customers, owners and shareholders along the way,” said
Hoplamazian. “This is not about prioritizing 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.”
The growth in Hyatt’s brand footprint has a direct correlation
to growth in loyalty members and contribution. Since 2017, the
number of properties in Hyatt’s portfolio has grown by 86 percent,
the number of World of Hyatt members has tripled, and the level of
room night penetration for World of Hyatt members has increased by
more than 1,300 basis points.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Hotels
Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of June 30, 2024, the
Company’s portfolio included more than 1,350 hotels and
all-inclusive properties in 78 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt
Place®, Hyatt House®, Hyatt Studios, and
UrCove; the Boundless Collection, including Miraval®,
Alila®, Andaz®, Thompson Hotels®, Dream®
Hotels, Hyatt Centric®, and Caption by Hyatt®;
the Independent Collection, including The Unbound Collection by
Hyatt®, Destination by Hyatt®, and JdV by Hyatt®;
and the Inclusive Collection, including Impression by
Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels
& Resorts®, and Sunscape® Resorts & Spas.
Subsidiaries of the Company operate the World of Hyatt® loyalty
program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation
Club®, Amstar DMC destination management services, and Trisept
Solutions® technology services. For more information, please visit
www.hyatt.com.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements include statements about the Company’s plans for a
dedicated lifestyle group and a dedicated luxury group, and
personnel for such groups, the Company’s development pipeline,
strategies, outlook, prospects or future events and involve known
and unknown risks that are difficult to predict. As a result, our
actual results, performance or achievements may differ materially
from those expressed or implied by these forward-looking
statements. In some cases, you can identify forward-looking
statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered reasonable by us and our management, are
inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: general economic uncertainty in key global markets and
a worsening of global economic conditions or low levels of economic
growth; the rate and pace of economic recovery following economic
downturns; global supply chain constraints and interruptions,
rising costs of construction-related labor and materials, and
increases in costs due to inflation or other factors that may not
be fully offset by increases in revenues in our business; risks
affecting the luxury, resort, and all-inclusive lodging segments;
levels of spending in business, leisure, and group segments, as
well as consumer confidence; declines in occupancy and average
daily rate; limited visibility with respect to future bookings;
loss of key personnel; domestic and international political and
geopolitical conditions, including political or civil unrest or
changes in trade policy; hostilities, or fear of hostilities,
including future terrorist attacks, that affect travel;
travel-related accidents; natural or man-made disasters, weather
and climate-related events, such as earthquakes, tsunamis,
tornadoes, hurricanes, droughts, floods, wildfires, oil spills,
nuclear incidents, and global outbreaks of pandemics or contagious
diseases, or fear of such outbreaks; our ability to successfully
achieve certain levels of operating profits at hotels that have
performance tests or guarantees in favor of our third-party owners;
the impact of hotel renovations and redevelopments; risks
associated with our capital allocation plans, share repurchase
program, and dividend payments, including a reduction in, or
elimination or suspension of, repurchase activity or dividend
payments; the seasonal and cyclical nature of the real estate and
hospitality businesses; changes in distribution arrangements, such
as through internet travel intermediaries; changes in the tastes
and preferences of our customers; relationships with colleagues and
labor unions and changes in labor laws; the financial condition of,
and our relationships with, third-party owners, franchisees, and
hospitality venture partners; the possible inability of third-party
owners, franchisees, or development partners to access the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations; failure to successfully
complete proposed transactions (including the failure to satisfy
closing conditions or obtain required approvals); our ability to
successfully execute our strategy to expand our management and
hotels services and franchising business while at the same time
reducing our real estate asset base within targeted timeframes and
at expected values; our ability to maintain effective internal
control over financial reporting and disclosure controls and
procedures; declines in the value of our real estate assets;
unforeseen terminations of our management and hotels services or
franchise agreements; changes in federal, state, local, or foreign
tax law; increases in interest rates, wages, and other operating
costs; foreign exchange rate fluctuations or currency
restructurings; risks associated with the introduction of new brand
concepts, including lack of acceptance of new brands or innovation;
general volatility of the capital markets and our ability to access
such markets; changes in the competitive environment in our
industry, industry consolidation, and the markets where we operate;
our ability to successfully grow the World of Hyatt loyalty program
and Unlimited Vacation Club paid membership program; cyber
incidents and information technology failures; outcomes of legal or
administrative proceedings; and violations of regulations or laws
related to our franchising business and licensing businesses and
our international operations; and other risks discussed in the
Company's filings with the SEC, including our annual reports on
Form 10-K and quarterly reports on Form 10-Q, which filings are
available from the SEC. All forward-looking statements attributable
to us or persons acting on our behalf are expressly qualified in
their entirety by the cautionary statements set forth above. We
caution you not to place undue reliance on any forward-looking
statements, which are made only as of the date of this press
release. We do not undertake or assume any obligation to update
publicly any of these forward-looking statements to reflect actual
results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements,
except to the extent required by applicable law. If we update one
or more forward-looking statements, no inference should be drawn
that we will make additional updates with respect to those or other
forward-looking statements.
HHC-FIN
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version on businesswire.com: https://www.businesswire.com/news/home/20241001679720/en/
MEDIA: Franziska Weber Hyatt franziska.weber@hyatt.com
INVESTOR: Adam Rohman Hyatt adam.rohman@hyatt.com
Hyatt Hotels (NYSE:H)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Hyatt Hotels (NYSE:H)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
