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UK: Trinity Investments, Oaktree Capital Management and Partners Group, have jointly acquired lifestyle hotel The Standard, London, for an undisclosed sum.
The Standard, London was the brand’s first international hotel when it opened in 2019. It is located at 10 Argyle Street in London’s Kings Cross.
The hotel features 266 guest rooms and suites and six food and beverage venues including a rooftop bar.
Ryan Donn, managing partner of Trinity Investments, said: “We are thrilled to acquire The Standard, London, a flagship of the Standard brand, together with our longstanding partners at Oaktree and Partners Group. This hotel has quickly become a cultural icon in one of London’s most dynamic neighbourhoods. We see huge potential to build upon this strong foundation by collaborating with Standard International, following its incorporation into the Hyatt family of brands, and solidify the hotel’s position as a leading luxury lifestyle destination in Europe. The hotel is the perfect addition to Trinity’s quickly expanding portfolio in Europe.”
As of November 2024, Trinity has invested more than $10 billion in the United States, Mexico, Europe, and Japan. More than €550 million has been invested into hotels in Europe and the United Kingdom.
Benjamin Bianchi, managing director and head of Europe for Oaktree’s real estate group, said: “This investment marks yet another milestone in our joint venture with Trinity and aligns with our confidence in the growth potential of Europe’s luxury lifestyle sector. Our long-standing partnership with Trinity dates to 2017, and we have since acquired nearly 5,000 hotel keys, representing close to $3 billion in asset value. It also highlights the strength of our ownership model and our ability to repeatedly collaborate with global brands such as Hyatt, strategically investing in the property and its operations to fully realise the potential of a flag like The Standard.”
Stephen McCall, managing director at Partners Group, said: “We strongly believe that distinctive brands drive performance. We are delighted to have the opportunity to acquire such an iconic hotel as we continue to build our focus on global hospitality as a priority investment theme. The Standard, London is our third acquisition with Trinity, and the first in Europe since we announced our strategic partnership in April. The speed with which Trinity has been able to establish its presence in Europe is a testament to the quality of their team and further reinforces our conviction in this partnership and the sector.”
In October, Hyatt completed the acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotel brands. The company’s portfolio features 22 hotels globally with a pipeline of 30 signed agreements.
Javier Águila, group president, EAME at Hyatt, added: “We are incredibly grateful for the recognition of both the present and bright future of The Standard, London by all those involved in this transaction. Set within King’s Cross, this iconic property is located at the doorstep of London’s most exciting dining, shopping, and cultural programming. Helmed by Amar Lalvani as part of our new lifestyle group, we’re confident The Standard, London will reach even greater heights. This acquisition also strengthens our ties with Trinity and Oaktree in Europe, following their recent purchase of Park Hyatt Zurich. We’re excited about the opportunities ahead and look forward to many more successful projects together, continuing to earn their trust along the way.”
Appeared first on: boutiquehotelnews.com
