Hospitality company Hyatt Hotels Corporation is in advanced talks to acquire Standard International, a boutique hotel operator.

However, no final decision has been made, and there remains a possibility that the acquisition may not proceed, sources privy to the development told Bloomberg. 

A Hyatt spokesperson has emphasised the company's strategy, stating it remains committed to “asset-light growth through both organic growth and strategic acquisitions”.

Standard International, developed by American businessman and hotel manager Andre Balazs, revealed its expansion plans last year, including opening 14 new hotels within the next five years.

Currently, the company includes a collection of hotels in locations such as London, Ibiza, the Maldives, and Melbourne, among others.

This potential acquisition follows Hyatt's recent purchase of the 'me and all hotels' brand from Lindner Hotels, earlier this year.

Hyatt's acquisition has previously acquired brands such as Alila, Thompson Hotels, and the all-inclusive portfolio of Apple Leisure Group.

These acquisitions are said to have facilitated Hyatt's transition towards a business model focused on licensing brands to third-party investors and expanding its hotel system.

The company also recently bolstered its presence in New Orleans, Louisiana, with the acquisitions of Maison Métier and the Barnett, enhancing its portfolio in the US market.

As of 31 December 2023, Hyatt's portfolio included more than 1,300 hotels and all-inclusive properties across 77 countries on six continents.