Sansiri Public Company Limited (SIRI), Thailand\u2019s 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\u2019s 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,\u202fsubject to customary closing\u202fconditions.<\/p>\n
<\/p>\n
Hyatt\u2019s planned acquisition of Standard International will provide substantial benefits to Sansiri\u2019s existing properties by leveraging Hyatt\u2019s 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.<\/p>\n