Sansiri Announces Planned Sale of Standard International to Hyatt, Cementing Strong Return on Investment
Sansiri Public Company Limited (SIRI), Thailand’s leading real estate developer, has announced the planned sale of Standard International, the parent company of The Standard and Bunkhouse (named among the Top 10 hotel brands by Travel + Leisure’s World Best Awards 2023), to leading global hospitality company Hyatt. This transaction marks the culmination of a fruitful investment for Sansiri PLC, which acquired a majority stake in Standard International in 2017 and supported its international expansion. The transaction is anticipated to close later this year, subject to customary closing conditions.
Hyatt’s planned acquisition of Standard International will provide substantial benefits to Sansiri’s existing properties by leveraging Hyatt’s powerful global infrastructure and loyal World of Hyatt member base. Sansiri will retain ownership of various properties managed or franchised under Hyatt, and this relationship will pave the way for future hospitality projects. Sansiri-owned properties include: The Standard, Hua Hin; The Standard Residences, Hua Hin; The Peri Hotel, Hua Hin; The Peri Hotel, Khao Yai; and The Manner, a new luxury brand debuting in SoHo, New York City in September 2024. Sansiri remains committed to exploring opportunities in the hospitality sector as a property owner.
“Sansiri has been approached by several top-tier hotel brands in recent years. We have carefully evaluated timing, market conditions, and alignment with our strategic goals,” said Uthai Uthaisangsuk, Sansiri’s President. “As tourism rebounds, our objective is to secure a bright future for Standard International, and Hyatt aligns perfectly with this vision.”
“We are thrilled that Hyatt recognizes the tremendous potential of the brands we have developed. While this deal concludes a chapter for us, it opens up exciting new opportunities for our guests and team members,” Uthai added.