Hyatt Hotels Corporation (NYSE:H) disclosed plans to acquire Standard International for a base purchase price of $150 million, with up to an additional $185 million as more properties join the portfolio.
The acquisition includes over 30 projects with signed agreements or letters of intent, including new properties set to open in the next 12 months, such as The Standard, Pattaya Na Jomtien, The StandardX, Bangkok Phra Arthit, and Bunkhouse Hotels Saint Augustine and Hotel Daphne.
Stabilized fees from the base purchase are expected to be around $17 million, with potential additional fees of up to $30 million if the contingent purchase price is fully paid.
The transaction, expected to close later this ...
