Not your usual Standard
The Standard is breaking all norms and exceeding all regular standards. A pioneer in the lifestyle hotel business that has created the blueprint for a new brand of hospitality experience, it already has expansions in key cities such as Los Angeles, New York, Miami and London. The Standard is renowned as a pioneer of hospitality, travel, dining and, nightlife, which is refined by a careful consideration to design, detail and service. The Standard’s vision has always been the desire to provide and create a design-led, creative destination that is deeply rooted in culture and community. Its goal to create authentic and unique young customer experiences, is definitely in line with Sansiri’s visions. One recent example was the high profile Met Gala 2018 presented by Balmain. It was held at The Top of The Standard, The Standard High Line Hotel in New York, where stars such as Emma Stone, Michael B. Jordan, Jennifer Lopez gathered.
The relationship between Sansiri and The Standard
In 2017, as part of its Everyday Visionaries growth map, Sansiri made an investment of $58 million into Standard International, the parent company behind Standard Hotels and Bunkhouse Group, as well as the same-night booking app, One:Night. This investment secured Sansiri a 35 percent stake in the company. With this investment, the move of entering the hotel industry is set to revolutionise old-school, traditional industries such as hospitality and real estate. The investment will fuel new hotels, food and beverage outlets, and the innovative One Night app for enhanced capacity utilisation through last-minute hotel bookings in a carefully curated list of lifestyle hotels around the world.
As described by Sansiri President Srettha Thavisin, Sansiri has a global ambition of expanding internationally as a global brand and ensuring that they are at the forefront of tech and innovation, with the property developer being more than just being a “world-class modern living platform”.
Standard International hopes that the partnership with Sansiri will give them access to more opportunities to develop technology for the app, to develop to its full potential and to grow internationally, especially in Asia.
Expanding One Night into Asia
With Sansiri’s investment, One Night strives to develop its full potential and to grow internationally, especially in Asia. The app, developed by Standard International, is the first third-party distribution platform for hotels designed by a hotel company. The mobile-only platform wishes to capitalise on the rapid growth of mobile bookings, guests’ desire for experience-driven offerings and the dynamic lifestyles of the next generation of travellers..
It is evident that the company has a strong desire to not only lead as a Thai property developer but to potentially evolve into something more than just residential real estate business. With the investments into the different businesses, Sansiri’s vision of future projects including hospitality, co-working, and lifestyle media will soon be made possible.