What trade name did The Standardx acquire in the Bahia Principe acquisition?

According to The Standardx's 2025 Franchise Disclosure Document, the acquisition of Bahia Principe included the "Bahia Principe" trade name. The acquisition also involved management and hotel services agreements for operating hotels and contemplated the future management of undeveloped Bahia Principe Hotels & Resorts-branded properties. This acquisition expands The Standardx's all-inclusive portfolio, providing more opportunities for guests and loyalty program members to experience all-inclusive travel.

The Standardx entered into various agreements with the joint venture and its related parties to provide commercial and management support services, further supporting the growth of the Bahia Principe brand and the operation of Bahia Principe Hotels & Resorts-branded properties. The company acquired 50% of the outstanding shares of Management Hotelero Piñero, S.L., a joint venture that owns the Bahia Principe brand and manages Bahia Principe Hotels & Resorts-branded properties.

This strategic move allows The Standardx to consolidate the operating results and financial position of the VIE (Variable Interest Entity) in its consolidated financial statements within its management and franchising segment. The assets of the VIE can only be used to settle its obligations, and there is no recourse to The Standardx for the VIE's liabilities. The acquisition was completed during the year ended December 31, 2024.