Sansiri Public Company Limited (SET: SIRI), Thailand’s leading real estate developer, today announced the successful conclusion of its investment in Standard International that has now been acquired by Hyatt. This strategic exit marks a significant milestone for Sansiri, paving the way for a new era of collaboration with one of the world’s leading hospitality companies.
The friendly acquisition brings several key advantages to Sansiri. The company’s properties will now benefit from Hyatt’s powerful global infrastructure and loyal World of Hyatt member base, significantly enhancing their global reach. While Hyatt has acquired Standard International, Sansiri will continue to own several properties now managed or franchised under the Hyatt brand. This relationship with Hyatt also leads to new hospitality projects, fostering potential growth opportunities.
Sansiri’s diverse portfolio of owned properties showcases its strong presence in the hospitality sector. Included are The Standard, Hua Hin; The Standard Residences, Hua Hin; The Peri Hotel, Hua Hin; The Peri Hotel, Khao Yai; and The Manner in SoHo, which made its highly anticipated debut this month with some of New York Fashion Week’s most coveted afterparties.
Moving forward, Sansiri remains committed to exploring further opportunities in the hospitality sector as a property owner, leveraging its expertise.
Upon closing, Hyatt will pay a base purchase price of $150 million, with up to an additional $185 million over time as additional properties enter Hyatt’s portfolio.
On its overall business performance, Sansiri recently announced its presales and transfer figures for the 9-month period (ending September 30, 2024). Presales already recorded 37,000 million baht (71% of the annual target of 52,000 million baht) and ownership-transfer value reached 31,000 million baht (72% of the target of 43,000 million baht) during the first nine months of 2024. For the remainder of the year (Q4), Sansiri plans to launch 13 new projects with the total value of 22,000 million baht.
