Bangkok, Thailand, September 9, 2021 / TRAVELINDEX / Amar Lalvani, CEO of Standard International (parent company of The Standard Hotels), presents arguments for optimism in the hospitality industry in view of the ongoing challenges posed by Covid-19, as well as his company's handling of the crisis and its continued growth.

The latest additions to the company's growing portfolio, The Standard, Hua Hin, the brand's first resort in Thailand, will open on December 1, 2021, followed by The Standard, Bangkok Mahanakhon, the brand's highly anticipated flagship in Asia, scheduled to open in 2022. The Standard is also delighted to announce the opening of The Standard, Ibiza, also in 2022. These three new properties mark the beginning of a series of ten further groundbreaking projects in sought-after markets worldwide, including Singapore, Melbourne, Lisbon, Dublin, Brussels, and Las Vegas.

Standard's market entry in Thailand comes at the right time, as Thailand prepares to open its borders to international travelers amidst flexible travel restrictions and mass vaccination programs.

“We are incredibly proud to announce the opening of The Standard, Hua Hin in December, our stunning Asian flagship, The Standard, Bangkok Mahanakhon, opening next year, and our second hotel in Europe, The Standard, Ibiza,” said Amar Lalvani, CEO of Standard International. “The hotel industry and the millions of people worldwide who work in this sector have experienced an unprecedented crisis. Despite these challenges, we are incredibly grateful that we can continue to delight our guests, serve our communities, and offer new opportunities to our employees by building groundbreaking hotels around the world.”

The Standard is widely regarded as one of the most innovative lifestyle hotel brands in the industry, aiming with every project to defy conventions, raise aesthetic standards and offer an absolutely unique experience that is only possible in the brand's respective hotels.

“Thailand, with its strategic location in Southeast Asia and its rich cultural heritage, continues to be one of the region’s leading travel destinations. To further strengthen our presence in Asia, we offer the dynamic Thai market over 20 years of experience in the boutique hotel industry and an undeniably playful sensibility, combined with high standards of design, attention to detail and service – starting with these two unique projects,” Amar added.

Thailand, which has become one of the most popular destinations for international tourists, experienced decades of steady tourism growth before the outbreak of Covid-19, welcoming over 38 million visitors in 2018 and 39 million in 2019. Bangkok and Phuket recently reaffirmed their status as preferred destinations for international tourists, having been named among the world's most popular travel destinations in the "Popular Destinations - World" category of the TripAdvisor Travellers' Choice Best of the Best Awards 2021. The selection was made by those who have personally visited and clearly appreciated the cities.

Returning tourism to pre-COVID-19 pandemic levels is a major challenge. Nevertheless, the Tourism Authority of Thailand (TAT) has embarked on a promising path toward the recovery of the travel and hospitality industry. As vaccinations are underway, the country is slowly and cautiously reopening its borders to international visitors. The pioneering Phuket Sandbox program has allowed vaccinated foreign tourists to enter the island since July 1, 2021. Similar initiatives have been launched for other holiday destinations, including the Hua Hin Recharge project. This project aims to vaccinate 70% of the local population to safely attract domestic and international visitors to the resort and gradually revive local tourism.

With the start of the peak tourist season, which typically begins in early October, five Thai destinations (Phuket, Koh Samui, Pattaya, Chiang Mai, and Hua Hin, which, according to the Tourism Authority of Thailand (TAT), account for 50% of the country's total tourism revenue) are participating in reopening programs. Two others – Krabi and Phang Nga – are expanding their programs. Phuket is now fully open to vaccinated visitors, while the other destinations are offering access to certain districts under specific conditions. Hua Hin is also being considered as a potential destination without quarantine requirements, where tourists can move freely within an 86-kilometer zone.

Unlike other holiday destinations, Hua Hin, home to The Standard hotel chain's first resort in Thailand, is heavily dependent on the domestic market: Before the pandemic, 74% of all visitors came from Thailand. On weekends and holidays, average occupancy rates reach 90% and above. In 2020, Hua Hin's hotel market recorded the highest domestic occupancy rate at 39%, surpassing popular tourist destinations such as Pattaya, Phuket, and Bangkok.

Demand for travel has built up strongly among high-income individuals and strong economies that are less dependent on inbound tourism. These countries have significant potential to accelerate recovery and become key drivers of demand. Thailand could benefit from a strong recovery in demand if other regional destinations reach herd immunity more slowly and lift border restrictions more gradually.

The impact of Covid-19 on the global economy is undeniably enormous. The outbreak hit the hotel industry hard, but The Standard survived and remains optimistic about the future of the travel sector. The company's market share in its US portfolio surpassed its 2019 level in 2021, with an average Revenue Generation Index (RGI) of 134 compared to 122 in 2019, relative to its competitors.

“Despite the challenges, we have managed to maintain profitability and continue to grow as we expand our market share in new projects and see a further acceleration of our project pipeline,” commented the CEO, who attributed the company’s market share figures to the strength of the brand and the decision to retain employees and continue marketing and program development during the pandemic.

The Standard Hotel has always benefited from a high percentage of direct bookings, a testament to the strength of the brand. This share increased from around 45% before the pandemic to 58%, a tremendous achievement for an independent brand. This success is based on innovative offerings and experiences that respond to the rapidly changing needs of guests, as well as the brand's signature highly creative marketing.

Despite the economic situation, Amar continued, The Standard Hotels significantly expanded its global project pipeline last year. "With the brands The Standard, Bunkhouse, and The Peri Hotel, we currently operate 17 hotels, 15 of which have reopened since the pandemic. A further 21 projects are in the secured pipeline, and many more are in discussions. This makes us one of the world's leading independent lifestyle brands," said the CEO.

The Standard, Hua Hin, the Standard Group's first hotel in Thailand, opens on December 1, 2021. With 178 guest rooms and 21 pool villas with direct beach access, The Standard, Hua Hin will be a timeless destination for Thailand's creative community and the Standard Group's loyal global clientele. A popular holiday destination with roots dating back to 1911, Hua Hin became a sought-after resort when the railway connecting Bangkok to the south reached the once-untouched coastal town. By the mid-1920s, it had become a favorite holiday spot for the aristocracy. Over time, the sleepy fishing village transformed into a popular seaside resort without losing its old-world charm. Today, Hua Hin is a favorite weekend getaway for Bangkok residents who have come to expect exactly what The Standard promises: a stylish and vibrant beachfront resort. A place that respects the understated elegance of Hua Hin, the appreciation for its history and local environment, and combines it with international flair and a touch of joie de vivre.

The Standard Bangkok Mahanakhon will be the Asian flagship of the Standard brand. Already a landmark, the hotel, opening in 2022, is located in the King Power Mahanakhon Building, a 78-story mixed-use building that ranks among the tallest in Thailand. Centrally located in the business district between Sathorn and Silom, the hotel reflects the dynamic energy of the Thai capital. It will feature 155 rooms, a penthouse suite, a terrace pool, a fitness center, meeting facilities, and a diverse selection of restaurants, bars, and pubs, from The Parlor and the Tea Room to the renowned Standard Grill, as well as Thailand's first branch of the acclaimed restaurant Mott 32. The property was designed by the Hayon Studio of Spanish artist and designer Jaime Hayon, in collaboration with The Standard's award-winning in-house design team. This stunning new addition to the Standard portfolio will proudly join the brand's award-winning, vibrant urban flagship hotels in the US and Europe, The Standard, High Line and Standard, London, and provide a perfect contrast to our waterfront retreats, The Standard, Maldives, The Standard, Miami, as well as the soon-to-open hotels The Standard, Hua Hin and The Standard, Ibiza.

“Bangkok’s vibrant metropolitan flair perfectly aligns with our ambition to be one of the most innovative brands in the travel sector. King Power Mahanakhon is one of the most impressive construction projects in the region, and we are honored and extremely pleased to partner with the King Power Group to bring The Standard to this incredibly lively project in the heart of the City of Angels,” he added.

Learn more about our upcoming expansion to Bangkok and Hua Hin and plan your visit to The Standard, Hua Hin now with an exclusive opening offer. Also, look forward to a special offer for The Standard, Bangkok Mahanakhon at www.standardhotels.com/bangkok/properties/bangkok.

About Standard International: Standard International Management, LLC is the company behind The Standard Hotel, Bunkhouse Hotels, and The Peri Hotels, with offices in New York, London, Austin, and Bangkok. The company operates over 16 hotels and restaurants, with more in development. Standard International is a leader in creating immersive experiences in its properties and in technology-driven industry innovations, including the One Night spontaneous booking app.

About The Standard Hotels: Founded in 1999, The Standard Hotels are known for their trendsetting clientele, pioneering design, and unconventional approach. With seven hotels in New York, Los Angeles, Miami, most recently London and the Maldives, as well as the soon-to-open The Standard, Hua Hin and the Asian flagship The Standard, Bangkok Mahanakhon, scheduled to open in early 2022, every Standard project – whether hotel, rooftop nightclub, or magazine – aims to break conventions, set aesthetic standards, and deliver a unique experience. The Standard's unconventional and playful approach, combined with a meticulous attention to detail in design and service, has earned the company a reputation as a leader in hospitality, travel, dining, nightlife, and beyond. Sansiri PLC, Thailand's leading property developer, first invested in Standard International in late November 2017. The stake grew over time, eventually making Sansiri PLC the majority shareholder.