Trinity Investments Acquires The Standard, London Alongside Oaktree and Partners Group

Rhea-AI Summary

Trinity Investments, along with Oaktree Capital Management and Partners Group, has acquired The Standard, London, a luxury lifestyle hotel featuring 266 rooms and suites. Located in King's Cross, the hotel occupies the Brutalist-style Camden Town Hall Annexe building and includes six food and beverage venues. This acquisition follows Hyatt's recent purchase of Standard International, which includes The Standard and Bunkhouse Hotel brands. The deal marks Trinity's second European asset, with the firm investing over €550 million in European hotels, establishing itself as a leading acquirer of single asset hotels in Europe in 2024.

Positive

• Strategic location in King's Cross, Europe's most connected transportation hub
• Property is surrounded by major tech companies (Google, Meta, Merck, AstraZeneca)
• Integration into Hyatt's brand portfolio potentially enhancing global reach
• Hotel features 266 rooms and six revenue-generating F&B outlets

Negative

• None.

Insights

Financial Analyst

The acquisition of The Standard, London represents a significant strategic move in the luxury hotel market. The 266-room property's location in King's Cross, a major tech and life sciences hub, positions it favorably for corporate demand. The deal strengthens Hyatt's presence in the luxury lifestyle segment following their recent acquisition of Standard International, which added 22 hotels and 30 pipeline projects to their portfolio.

The transaction demonstrates strong institutional investor confidence in the European luxury hospitality sector, with Trinity Investments deploying over €550 million in European hotels. The partnership structure between Trinity, Oaktree and Partners Group, which has acquired nearly 5,000 hotel keys worth approximately $3 billion, indicates robust financial backing and potential for further strategic acquisitions.

Market Research Analyst

The King's Cross location offers compelling market dynamics with major tech tenants like Google and Meta, plus life sciences companies including Merck and AstraZeneca nearby. This corporate presence, combined with the area's status as Europe's largest transportation hub, creates strong demand fundamentals for both business and leisure travelers.

The luxury lifestyle hotel segment has shown resilience and growth potential, particularly in gateway markets like London. The Standard's distinctive brand positioning and multiple F&B venues, including the acclaimed Decimo restaurant, align well with current market trends favoring experiential hospitality offerings. The integration with Hyatt's distribution platform should drive additional revenue opportunities and operational efficiencies.

Trinity acquires second European asset, establishing itself as a leading acquirer of single asset hotels in Europe in 2024

LONDON--(BUSINESS WIRE)-- A partnership between Trinity Investments (“Trinity”), funds managed by Oaktree Capital Management, L.P. (“Oaktree”), and Partners Group, acting on behalf of its clients, has acquired The Standard, London, a luxury lifestyle hotel situated in the heart of London.

The Standard, London was the brand’s first international hotel when it opened in 2019, and is situated at King’s Cross, occupying the striking and architecturally significant Brutalist-style Camden Town Hall Annexe building. The hotel features 266 spacious guestrooms and suites, six exceptional food and beverage offerings, including the award-winning Decimo restaurant, Double Standard cocktail bar, and a rooftop bar with panoramic city views. In addition to being Europe’s most connected transportation hub, the King’s Cross area has also evolved into the home of the technology and life sciences sector, with major companies such as Google, Meta, Merck, and AstraZeneca establishing offices nearby.

“We are thrilled to acquire The Standard, London, a flagship of the Standard brand, together with our longstanding partners at Oaktree and Partners Group,” said Ryan Donn, Managing Partner of Trinity Investments. “This hotel has quickly become a cultural icon in one of London’s most dynamic neighborhoods. 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. The hotel is the perfect addition to Trinity’s quickly expanding portfolio in Europe.”

“This investment marks yet another milestone in our joint venture with Trinty and aligns with our confidence in the growth potential of Europe’s luxury lifestyle sector. Our long-standing partnership with Trinity dates to 2017, and we have since acquired nearly 5,000 hotel keys, representing close to $3 billion in asset value,” said Benjamin Bianchi, Managing Director and Head of Europe for Oaktree’s Real Estate group. “It also highlights the strength of our ownership model and our ability to repeatedly collaborate with global brands such as Hyatt, strategically investing in the property and its operations to fully realize the potential of a flag like The Standard.”

“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. The Standard, London is our third acquisition with Trinity, and the first in Europe since we announced our strategic partnership in April. The speed with which Trinity has been able to establish its presence in Europe is a testament to the quality of their team and further reinforces our conviction in this partnership and the sector,” said Stephen McCall, Managing Director at Partners Group.

“We are incredibly grateful for the recognition of both the present and bright future of The Standard, London by all those involved in this transaction,” said Javier Águila, Group President, EAME at Hyatt. “Set within King’s Cross, this iconic property is located at the doorstep of London’s most exciting dining, shopping, and cultural programming. Helmed by Amar Lalvani as part of our new lifestyle group, we’re confident The Standard, London will reach even greater heights. This acquisition also strengthens our ties with Trinity and Oaktree in Europe, following their recent purchase of Park Hyatt Zurich. We’re excited about the opportunities ahead and look forward to many more successful projects together, continuing to earn their trust along the way.”

In October, Hyatt Hotels Corporation (NYSE:H) announced the completed acquisition of Standard International, the parent company of The Standard and Bunkhouse Hotel brands, boasting a portfolio of 22 hotels globally with a strong pipeline of 30 more signed agreements.

To date, Trinity has invested more than €550 million in hotels in Europe and the United Kingdom, becoming one of the largest acquirers of single asset hotels in Europe in 2024.

About Trinity Investments

Trinity is a private real estate investment firm with a 28-year history of specializing in value-add opportunities. Based in Honolulu, Hawaii, with offices in Los Angeles and London, Trinity focuses on unique real estate investments in world-class markets. As of November 2024, Trinity has invested more than $10 billion in the United States, Mexico, Europe, and Japan by leveraging its deep institutional knowledge and longstanding local relationships. For additional information, please visit Trinity’s website at www.trinityinvestments.com. For updates on Trinity’s investment activity, follow Trinity on LinkedIn.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes a value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

About Partners Group

Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and approximately $150 billion in assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241118517192/en/

Trinity Media Contact

Prosek Partners

media@trinityinvestments.com



Oaktree Media Contact

FGS Global Communications

mediainquiries@oaktreecapital.com



Partners Group Media Contact

Henry Weston

henry.weston@partnersgroup.com

Source: Trinity Investments

FAQ

What is the significance of The Standard London's acquisition for Hyatt (NYSE:H)?

The acquisition strengthens Hyatt's presence in the luxury lifestyle sector and follows their recent acquisition of Standard International, which includes 22 hotels globally and a pipeline of 30 more signed agreements.

How many rooms does The Standard London have?

The Standard London features 266 guestrooms and suites, along with six food and beverage venues including the Decimo restaurant, Double Standard cocktail bar, and a rooftop bar.

How much has Trinity Investments invested in European hotels?

Trinity Investments has invested more than €550 million in hotels across Europe and the United Kingdom, becoming one of the largest acquirers of single asset hotels in Europe in 2024.

When did The Standard London first open?

The Standard London opened in 2019 as the brand's first international hotel.