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Andre Balazs Sells Stake in the Standard Brand

Sep 5, 2013


André Balazs has sold a majority interest in the Standard hotel brand. 



Under the terms of the private placement, Balazs will remain as active chairman and a significant shareholder, and he will continue to serve in an operational role in the newly formed management company, Standard International. The former head of development for André Balazs Properties, Amar Lalvani, will serve as managing partner of the company. 



In the 15 years prior to working with Balazs, Lalvani served with Starwood Capital Group, the Blackstone Group, and Starwood Hotels. The transaction provides substantial capital for the global expansion of the Standard brand.
 
At the same time, Balazs and the original investor group that financed the Standard, High Line, a hotel based in New York's High Line Park, will release an offering for potential buyers of the building, which was developed by Balazs as the fourth Standard hotel. Standard International expects that it will continue to manage the property after its sale.





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