Hyatt Said to Be in Advanced Talks to Buy Standard Hotels Brand

Hyatt Hotels Corp. is nearing a deal to buy boutique hotel operator Standard International, continuing a run of acquisitions that has helped Hyatt add luxury properties in leisure destinations.

Negotiations between Hyatt and Standard — which operates properties in London, Ibiza, the Maldives and Melbourne, among other places — are in advanced stages, according to people with knowledge of the matter. No transaction has been finalized and a deal could fall through, said one of the people, asking not to be named because the talks are private.

A spokesperson for Hyatt declined to comment on the talks, but said the ...