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.
SHR ready to sell off hotels in UK
published : 23 Apr 2021 at 04:00
3
S Hotels and Resorts Plc (SHR), the hospitality arm of Singha Estate, has announced it will sell off a number of its underperforming hotels in the United Kingdom including the Mercure Newbury Elcot Park Hotel.
The firm has entered into a sales agreement for the 73-key hotel for 182 million baht. SHR is also considering divesting from five other UK hotels, which have been identified as non-core assets.
Proceeds from sales will be used to reinvest in the renovation of core hotel assets in its portfolio.
Dirk De Cuyper, chief executive of SHR, revealed that the transaction forms part of the company s portfolio enhancement strategy comprising asset enhancement, disposal and optimisation.
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.