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Source: Thailand Hotel News  Aug 18, 2019

US Based Standard Hotels Plans 5 Properties In Thailand

US Based Standard Hotels Plans 5 Properties In Thailand
Source: Thailand Hotel News  Aug 18, 2019
Standard International, the US based parent company of The Standard Hotels and the Bunkhouse Group, plans to open 5 hotels in Thailand within the next 5 years. The Chain that was once famous for its chic and trendy all-night bars and party scenes was founded by social hotelier Andres Balazs.
 

Some of its hotel properties in the US are known for their late-night see and be seen bars and restaurants, such as the NYC High Line location’s Top of the Standard and  Miami’s Lido Bar. Its properties are also known the “in” spot for late-night parties and celebrity sightings at its Los Angeles, New York City, and Miami locations.


The newly opened Standard London In King's Cross
 
Besides Thailand, the Group also plans to bring another 20 properties under its management rights with the Standard brand, including in cities like London, Paris, Lisbon, Mexico City, Chicago, the Maldives and Jakarta. The company currently operates six hotels under the Standard brand in the US.
 
The Five new hotels in Thailand to come under The Standard brand will be located in Bangkok, Phuket, Samui, Pattaya, and Hua Hin, according to the company’s CEO, Amar Lalvani. The first will open in Samui in 2020 while the rest will be in 2021.
 
The two properties in Phuket and Hua Hin will be developed by Sansiri Plc, a local Thai property developer that hold a 35% stake in Standard International. Sansiri had invested a total of US$ 58 million into Standard International which besides the hotel management business, also has the money losing magazine Monocle, an  obsolete booking app called One Night and a few other businesses in their portfolio.
 
Standard International had opened its London property at King’s Cross in July 2019 and will be opening a Maldives property in October this year as well. Average  occupancy at its hotels are to date running at about 85 % in total, as claimed by its CEO. The company is planning more aggressive expansions in Asia an also Europe as the tourist markets there are currently booming.