NEWS ALERT Centara Expands With Astudo Chain Merge
Leading Thai hotel group Centara have struck a deal to acquire the management of properties under Bangkok based Astudo Hotels. Astudo currently operates under the X2, Le Bayburi, Case and Away brands which have 7 operating properties and 5 in the pipeline.
Centara (formerly Central Hotels)will be rebranding the Astudo properties and have recently announced that a new budget tier product would be put into the market. The deal give Centara added critical mass and helps push forward its strategy to grow as a management chain both in Thailand and in the region.
In Phuket there is a Le Bayburi project under development in Kata. For Anthony McDonald of Astudo who was able to fast track his homegrown chain over a very short period, this deal certainly has played out as the realization of his ambitions. Looks to be a win win here for all.