Hyatt Hotels Nears Deal To Acquire Standard International : Report

(RTTNews) - Hyatt Hotels Corp. (H) is close to finalizing an acquisition deal with Standard International, a boutique hotel operator. The potential acquisition is part of Hyatt's strategy to expand its portfolio with luxury properties in popular tourist destinations, Bloomberg reported citing people familiar with the matter.

The report revealed that negotiations between Hyatt and Standard International, known for its hotels in London, Ibiza, the Maldives, and Melbourne, among other locations, are at an advanced stage. However, the report cautioned that while discussions are ongoing, the deal has not yet been finalized and there is a possibility it may not materialize.