Standard Hotels Has a New Major Investor From Thailand
Photo Credit: The Standard Hotel, High Line in New York City. The parent company, Standard International, has a new major stakeholder: Sansiri, a Bangkok-based real estate developer. The Standard
Skift Take
Foreign investment in U.S.-based hotel companies is a trend that continues. Even more interesting here is that Sansiri is also choosing to invest in so many other diverse businesses. How they plan to bring all those investments together eventually should be interesting to watch.
Standard International, the parent company behind Standard Hotels and Bunkhouse Group, as well as the last-minute booking app, One Night, has a new major investor.
Sansiri Public Company Ltd., a Bangkok-based real estate developer, is investing $58 million into Standard International and One Night, securing a 35 percent stake in the company. That's part of an overall $80 million investment in a handful of technology and lifestyle companies, Sansiri announced Wednesday.
The remaining $22 million will be spread out among four other businesses, although Sansiri didn't divulge exact breakdowns in the investments: home rental management service Hostmaker; Tyler Brûlé's influential Monocle media company; Southeast Asia-based co-working company JustCo; and Farmshelf, a "smart" indoor farm maker.
With Monocle, in particular, Sansiri hopes to launch a co-branded mixed-use residential concept in Bangkok by next year.
The 33-year-old company labels itself as Thailand's only full-ser
