Trinity Investments, Oaktree Capital Management, and Partners Group have joined forces to acquire London luxury hotel The Standard.
The Standard was previously managed by Crosstree Real Estate, and was reportedly purchased for UK£185 million (A$359,87 million).
“This hotel has quickly become a cultural icon in one of London’s most dynamic neighbourhoods. We see huge potential to build upon this strong foundation by collaborating with Standard International, following its incorporation into the Hyatt family of brands, and solidify the hotel’s position as a leading luxury lifestyle destination in Europe,” said Trinity Managing Partner Ryan Donn.
The Standard is located at King’s Cross, and features 266 rooms as well as six high-end restaurants and bars.
The hotel first opened in 2019, having been converted by Crosstree. The building previously held offices, and was known as the Camden Town Hall Annex.
“We strongly believe that distinctive brands drive performance. We are delighted to have the opportunity to acquire such an iconic hotel as we continue to build our focus on global hospitality as a priority investment theme,” said Partners Group Managing Director Stephen McCall.
Trinity has invested over EU€550 million (A$893.8 million) into the United Kingdom and Europe hotel sector thus far.
This will be Trinity’s second major acquisition in Europe since the company opened its London office last year. Trinity purchased the Park Hyatt Zurich in April.
Hyatt Hotels Corporation acquired Standard International, The Standard’s parent company, last month.
The Standard London’s acquisition “also strengthens our ties with Trinity and Oaktree in Europe, following their recent purchase of Park Hyatt Zurich”, according to Hyatt’s EAME Group President Javier Águila.
Standard International operates hotels in locations including New York City, Bangkok, and Ibiza. Its first hotel under the StandardX brand opened in Melbourne this year, and a Singapore Standard will open on November 28.