The Standard Hotel in King’s Cross, London, UK, has been acquired by a partnership comprising Trinity Investments, Oaktree Capital Management funds, and Partners Group.
The hotel opened in 2019 as the brand’s first international property and boasts 266 rooms and suites, multiple dining venues, and a rooftop bar with views of the city.
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Dining options include the Decimo restaurant and the Double Standard cocktail bar.
Trinity Investments managing partner Ryan Donn 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 solidifying 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.”
Oaktree’s Real Estate Group Europe managing director and head Benjamin Bianchi said: “This investment marks yet another milestone in our joint venture with Trinty 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 $3bn in asset value.
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By GlobalData“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.”
Partners Group managing director Stephen McCall 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.”
The acquisition follows Hyatt Hotels Corporation’s announcement last month that it completed the acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotel brands.
Trinity has now invested more than €550m in European and UK hotels.
