The Standard - Melbourne — Photo by Standard International

As a result of the award-winning debuts of Standard hotels in London, the Maldives, Ibiza, Bangkok, and Hua Hin (Thailand), the company continues to attract development opportunities around the world.

The Standard will open in Melbourne later this year and in Singapore in early 2024, followed by new openings in Lisbon (hotel and residences), Austin, Mexico (resort and residences), Brooklyn (Bushwick), Vancouver, Dublin, Vienna, Brussels, Khao Yai, Nashville and Pattaya. The first Standard branded stand-alone residential project in Midtown Miami has launched successfully with over 70% of the units under contract, and with the upcoming addition of residences to the award-winning Standard, Hua Hin, The Standard will launch its first branded residences in Asia. The company’s sister hotel brand Bunkhouse also continues to thrive with the recent openings of Hotel Genevieve in Louisville (NULU) and the opening of San Fernando in Mexico City, along with projects under development in Chattanooga, Fort Worth, as well as two projects in Houston and two additional hotels in Mexico (Todos Santos and Queretaro). Peri Hotels, Standard International’s latest brand, has two new properties, Bangkok Sukhumvit and Bangkok Riverside, joining the portfolio.

“We are in a unique position as one of the last independent lifestyle brands,” said Amber Asher, CEO of Standard International. “Most of our competitors have been acquired, or have merged into large hotel companies, and we find that many developers and capital partners around the world prefer working with us, as a company that remains entrepreneurial, creative, nimble, and culturally connected. Our owner and developer partners are incredibly proud of the projects we are developing with them which leads to more projects in our global pipeline.”

During the toughest years of the Covid pandemic that left many independent hotel brands struggling to survive, and seeking companies with larger balance sheets to acquire them, the Standard team doubled down on its growth opportunities, deepened its bench of in-house talent (best in class creative, marketing, public relations, development and operations teams) and external collaborators (from world renowned interior designers and artists, to the next generation of fashion stars, to the most skilled and innovative chefs), and refined its operational approach to deliver both experiential and financial results.

Known for its progressive design, innovative cultural programming, detailed but casual service, and in-house F&B concepting and management, the Standard team works closely with its owner and developer partners to create projects that fit the submarkets and buildings themselves, a very different approach to the large brands who typically try to force the owner or developer to fit their projects into the “brand standards”. Standard International’s bespoke approach has resulted in the creation of iconic projects around the world that have transformed emerging neighborhoods into cultural epicenters while delivering strong returns for its partners.

Though The Standard is renowned for creativity and culture at its core, the brand also has a track record for excelling in the financial and operational performance of its properties:

  • Recovery rate on top line revenue to pre-Covid 107.3% from YE 2022 (excludes stub year properties). This is an additional $17.5k per key average
  • EBITDA to pre-Covid +33.1% on average from YE 2022 (excludes stub year properties). This is an additional $33.5k per key on average

Standard International punches well above its weight as an independent brand and delivers extensive value for owners and developers due to:

  • Over 50 food, beverage, and nightlife concepts, all managed in-house
  • Three brands: The Standard, Bunkhouse Hotels, and Peri
  • Direct booking rate of 60%+ (saving 15-20% in third party booking commissions)
  • Website users crossed 3M users in 2022, with Standardhotels.com contributing 45% booking rate
  • Email database of approximately 1 million
  • Repeat guest ratio of 30% (vs 25% Pre-Pandemic) which demonstrates brand loyalty and reduces cost of customer acquisition
  • Global footprint with offices to support growth in NYC, London, Bangkok, and Austin.

Operational Excellence Case Studies: (The Standard Bangkok, Mahanakhon and The Standard, Hua Hin):

The Standard Bangkok, Mahanakhon:

  • In addition to delivering superior financial returns (we beat top-line budget in the first calendar year by around 40% and many more folds in terms of profitability), we strive to make owners proud of their assets and achievements.
  • Product stand out from other traditional hotels, the hotel won the prestigious Ahead Award 2022, Asia, Best Hotel New Build,
    and the hotel has been included on Destin Asian Honor Circle 2022
  • For Market share, the hotel has achieved and maintained a RevPar Index of approximately 150-160 since the second month of operation.
  • Huge success since opening in International and Asia markets, reflected in international guest mix of approximately greater than 80% international and less than 10% domestic.
  • Mexican rooftop Ojo has almost doubled the initially planned average check.
  • Since the openings, we’ve welcomed many international notable guests and top tier medias e.g., Vogue Korea, NY times, South China Morning Post, including frequent visit from Bangkok A list celebrities.

The Standard, Hua Hin:

  • Deliver unique design product with low and efficient cost-to build in the coordination between Standard in-house design team and designers.
  • Named #1 resort in Southeast Asia, #7 in Asia, #35 in the world by Travel Leisure (World's Best Awards 2022)
  • The only hotel in Southeast Asia on Condé Nast Traveler’s 2022 Hot List
  • TripAdvisor ranking of 28 in the first year out of 223 hotels in Hua Hin/Chaam area
  • Praca (The Standard, Hua Hin’s beachfront restaurant and bar) has just become the #2 restaurant in Hua Hin on Trip Advisor
  • Direct booking portion is 43% of total revenue

From the strength of its financial and operational performance and its flexibility (ability to define the most appropriate product by market and effectively execute both new-builds and conversions), Standard International contributes to the superior project economics of the diverse projects its develops and operates, including urban, resort, urban retreats, branded residences, and its extensive array of food and beverage offerings (over 50 unique concepts run in house).