Hyatt hotels announced their expansion into the lifestyle hotel segment with the acquisition of The Standard and Bunkhouse brands. This move is part of Hyatt’s strategy to appeal to a younger demographic and offer unique, experiential accommodations.
The Standard brand is known for its trendy and vibrant hotels in popular destinations such as Miami, Los Angeles, and New York. These hotels feature innovative design, lively social scenes, and cutting-edge amenities. The Bunkhouse brand, on the other hand, offers a more laid-back and authentic experience with properties in hip locations like Austin and Marfa, Texas.
With this acquisition, Hyatt aims to cater to the growing demand for lifestyle hotels that offer more than just a place to sleep. The company believes that the addition of The Standard and Bunkhouse brands will complement its existing portfolio and enable them to reach a wider range of travelers.
In a statement, Hyatt’s executive vice president of global development, Jim Chu, expressed excitement about the partnership with The Standard and Bunkhouse brands. He emphasized the brands’ individuality and appeal to travelers seeking unique and immersive experiences.
This acquisition comes at a time when the hospitality industry is rebounding from the impact of the COVID-19 pandemic. As travelers seek out new and exciting accommodations, Hyatt’s move to expand its lifestyle offerings could position the company as a leader in the market.
Overall, the acquisition of The Standard and Bunkhouse brands reflects Hyatt’s commitment to innovation and strategic growth. By aligning with these popular lifestyle brands, Hyatt is poised to attract a younger, more experiential-focused clientele and solidify its position as a top player in the hospitality industry.
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