TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

BUDGET HOTEL CRAZE ibis Singapore Transaction

Category: Hotels, Posted:24 Jun 2010 | 06:00 am

First we had the Asian low cost airline carriers like AirAsia, Tiger, and Jetstar flood into the market place and now comes the budget hotels with ACCOR's Ibis, IHG's Holiday Inn Express and Tunehotels.com.
Back of substantially lower investment costs, operating efficiency and a growing segment of regional business the ibis Bencoolen was a slam dunk for US institutional giant LaSalle Investment Management (LIM).
As part of the fund strategy to gear up project and then exit the Singapore property which has been a huge hit with travelers has now been put on the transaction market and expectations are that the 538 key hotel will capture a significant upside on sale.
Here in Phuket many industry players remember LaSalle's banner conversion of the Karon Villa Resort into a Crowne Plaza and subsequent sale for in excess of USD 100 million a few years back to Kingdom Hotel Investments. The property was subsequently rebranded as a Moevenpick back of the new owner's stake in the chain.
ACCOR's ibis has two properties on the island in Patong and Kata which are owned by the substantial Thai hotel group Erawan.

Other News

Read more

Vietnam Tourism Voices  – The Tiger Roars Back

Category: Tourism, Posted:24 Sep 2021 | 13:40 pm Next Tuesday join C9 Hotelworks and Delivering Asia Communications for an in-depth look at Vietnam’s return of the international marketplace. Vietnam’s tourism and hotel market is focused an upcoming ‘Sandbox-style’ reopening for international travel. With the Vietnamese resort island of Phu Quoc taking center stage in a proof of concept, the hospitality industry in this […]
Read more

Manic Monday. No Rain, No Rainbows

Category: Tourism, Posted:20 Sep 2021 | 14:24 pm Rainy days and Mondays are no reason to get down. We have three new Thai Road Trip episodes from C9 Hotelworks and our friends at Delivering Asia Communications for you. Have a seat, throw the umbrella out the window and take a look now. INSIDE STORY Bill Heinecke’s Phuket Resort Home Phuket Hotel Insight – […]
Read more

After The Sandbox – Phuket Hotels Ask What’s Next?

Category: Hotels, Posted:16 Sep 2021 | 09:37 am The resort island of Phuket’s proof of concept Sandbox advantage looks to dramatically change come October. Since the first of July island hotels have experienced considerably higher occupancy levels and much-needed revenue from international arrivals. This has been Sandbox generated, and travelers, not necessarily tourists. Bangkokians fleeing the red zone situation have also aided in […]