Ascott Buys Into Indonesian Group Tauzia

Category: Hotels, Posted:18 Sep 2018 | 06:44 am

Consolidation in the hospitality sector is continuing back of news that Singapore’s Ascott is transacting a 70% shareholding in Indonesia’s Tauzia Hotel Group through its holding company Green Oak for USD26 million.

Tauzia was founded by former ACCOR executive Marc Steinmeyer, and has a portfolio of 122 properties with nearly 20,000 rooms through Indonesian, Vietnam and Malaysia.

The group’s key brands include Harris, Pop! and Yello.

Ascott, as are one of the many international serviced apartment groups that are trying to edge into the hotel space given Asia’s broad tourism boom.

Other News

C9 Hotelworks Releases Mid-Year Phuket Hotel Market 2023

Category: Hotels|Tourism, Posted:10 Sep 2023 | 15:42 pm In the first half of 2023, Phuket experienced a resurgence, signaling a promising path toward recovery. International and domestic flights both saw significant increases, accounting for 75% of the total flights in 2022. Airlines and travelers alike are eager to reengage with Phuket’s offerings. In terms of passenger arrivals, the first half of 2023 displayed […]

The Green Minute – PHIST 2023

Category: Hotels, Posted:10 Sep 2023 | 14:11 pm For those of you who missed PHIST 2023 and those of you who did attend, please find a selection of video short Green Minutes from the event. Sustainability has to be a priority for the hotel and travel sectors and hopefully the ideas and messages here, give you your own inspiration to go green. PHIST […]

TG’s Big Birds Set To Fly Phuket Bangkok Route Again

Category: Tourism, Posted:08 Sep 2023 | 16:14 pm One good indication of Phuket’s return to tourism recovery is airlift growth. Making news this week is Thai Airways International’s reported resumption of service on the high-traffic Phuket Bangkok route. The airline will start a once-daily right on 1st October 2023. Thai Smile (WE) will still operate other flights til the end of November when […]

More Insider News