Ascott Buys Into Indonesian Group Tauzia
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.