Standard International eyes global expansion with USD 58m
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Standard International has unveiled its global development pipeline of 15 domestic and international properties.
“This is an exciting time for our team,” said Amar Lalvani, CEO of Standard International, the parent company of boutique hotel brands Standard Hotels and the Bunkhouse Group, which uncovered its plans involving 15 hotels across the globe.
The pipeline includes Standard Hotels’ first European property, The Standard, London, a 266-room property being developed at the historic Camden Town Annex across from St Pancras Station. The much-anticipated property is slated to open in spring.
“The plethora of soulless ‘lifestyle brands’ popping up”
Lalvani added: “We have a global pipeline of incredible projects well underway in some of the most interesting places in the world — all with first-rate partners. Sophisticated hotel owners and developers have taken note of how genuine and rich our culture and creativity are compared to the plethora of soulless ‘lifestyle brands’ popping up seemingly at every turn.”
In 2017, Standard International received a USD 58 million capital investment from Bangkok-based real estate development group Sansiri PCL. Currently, the company’s expansion plans include new hotels in key destinations such as the Maldives, Bangkok, Phuket, Jakarta, Hua Hin, Pattaya, Lisbon, Mexico City, London, Paris, and Milan.
Furthermore, the company also announced an update on its venture-backed tech company called One Night, which was launched in 2016. One Night is a same-day hotel booking app that features over 200 hotels in 17 cities.
According to the group, One Night will become a separate company through a recent investment led by SWaN & Legend Venture Partners in Washington, DC.
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