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Red Planet Raise USD70 Million From Goldman Sachs

Author: Bill Barnett. Category: Hotels. Posted: 28th Sep 2016

Thailand-based budget hotel group Red Planet has raised USD70 million in funding from Goldman Sachs to expansion of the chain

According to the group they have raised USD240 million over the past 6 years and their next step is an IPO (initial public offerings).

Currently the group has 26 operating hotels in four Asian countries – Thailand, Philippines, Japan and Indonesia.

Prior to using the Red Planet name for properties the hospitality group had worked under a license agreement with Tune Hotels.

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