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SHR plans to launch property in the Maldives by 2023
published : 15 Jul 2021 at 04:00
With a promising outlook for tourism in the Maldives, S Hotels & Resorts (SHR), a hospitality arm of SET-listed Singha Estate, will launch its new property SO/ Maldives valued at US$60 million (1.9 billion baht) by 2023.
Dirk De Cuyper, chief hospitality officer at SHR, said construction of the 80-villa property will start in November this year on the third island of the Crossroad Maldives project, SHR s integrated resort project at Emboodhoo Lagoon.
The development, owned through an equal joint venture with Myanmar-based Wai Eco World Developer, will be the third property in the Crossroads Maldives project, following SAii Lagoon Maldives and Hard Rock Hotel Maldives which opened in September 2019.
Hotel chains warily eye expansion
2
published : 9 Jul 2021 at 06:44
2 Guests relax by the pool at Vijitt Resort in Phuket on July 1 the opening day for arrivals via the Phuket sandbox tourism scheme. (AFP photo)
Hotel chains continue to tread lightly to maintain liquidity, while cautiously rolling out expansion plans amid the pandemic, which has quickly deteriorated prospects for recovery.
Garth Simmons, chief executive at Accor for Southeast Asia, Japan and South Korea, said Accor implemented a €200 million (7.6 billion baht) recurring cost savings plan, with strong liquidity of over €4 billion, putting the group in a strong position to survive the current crisis.
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).