Accor signs SO/ hotel in Maldives bwhotelier.businessworld.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bwhotelier.businessworld.in Daily Mail and Mail on Sunday newspapers.
Accor’s luxury lifestyle brand, SO/ Hotels & Resorts, is bound for the Maldives after signing a management deal for a new-build property with Thailand’s S Hotels & Resorts.
SO/ Maldives will showcase 80 villas, including beachfront and over-water options, all adorned with designer interiors and an audacious twist. Nestled on its own exclusive island overlooking the azure Emboodhoo Lagoon, just 15 minutes by speedboat from Malé’s Velana International Airport, this eclectic resort will bring a fresh sense of avant-garde style and sophistication to the Maldives, while also reflecting the local spirit of this captivating country.
The new resort will take centre stage on the third island of CROSSROADS Maldives, the first integrated leisure destination in the exotic South Malé Atoll.
SHR emphazises on the performance of CROSSROADS project in Maldives and believes its UK hotel portfolio will flourish in the second half of 2021
published : 14 May 2021 at 12:23
S Hotels & Resorts Plc (SHR) has revised its strategies to create a business stability through the revenue and customer diversifications. In particular, this was contributed to the opportunity for business recovery after COVID-19 crisis. The company invested THB 560 million to purchase 26 UK hotels in February 2021, followed by the divestment on a selection of its hotel assets. Proceed from sales will be used to reinvest in the renovation of top-tier hotel in the countries. Nonetheless, SHR was successful in adapting major commercial strategies and introducing a new homegrown brand for attracting Thai residents. The Q1/2021 performance reflected a recovery with 83% rise in revenue from the previous quarter.
BANGKOK, 22 April 2021: S Hotels and Resorts Public Company
Limited (SET: SHR) has disclosed it will shed underperforming hotel assets in
the UK as part of its strategy to optimise its portfolio and maximise returns.
In February 2021, S Hotels & Resorts invested THB560 million to purchase additional 50% stakes in 26 of its portfolio of 29 UK hotels, raising its total ownership of those properties to 100%.
The hospitality arm of Singha Estate PCL (SET: S), S Hotels and Resorts, made the announcement Wednesday on what it described as a “limited divestment strategy.” It will start with the sale of the 73-key Mercure Newbury Elcot Park S Hotels & Resorts valued at UKP4.25 million (THB182 million).
Press Release21 April 2021
S Hotels & Resorts Books THB 182 Million From Divestment Of UK Hotels, In Line With Portfolio Enhancement Strategy
Company remains fully committed to the UK market with plans to reinvest sale funds in the renovation of its top-tier hotels in the country, following significant THB 560m investments in February 2021
share this article
S Hotels & Resorts Chief Executive Officer, Dirk De Cuyper Photo: S Hotels & Resorts
S Hotels and Resorts Public Company Limited (SET: SHR), the flagship hospitality arm of Singha Estate PCL (SET: S), has disclosed its intention to divest a selection of its underperforming hotel assets in the United Kingdom, as part of its strategy to optimise its UK portfolio and maximise returns.