TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

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

STARWOOD CAPITAL Trading Luxury For Budget Hotels

Category: Hotels, Posted:04 Feb 2010 | 06:00 am

It's been reported in the financial press that Starwood Capital head Barry Sternlicht has said the group is looking to dispose of some luxury assets in order to create more critical mass in the budget hotel sector. Starwood is a leading privately held investment management firm.
While the group is well known for its acquisition in the mid 90's of Starwood Hotels and Resorts along with brands Sheraton, Westin, Le Meridien, St. Regis and W, Sternlicht left in the 2005 to focus on the investment group and expanding international acquisitions.
It's acquisition of Groupe Taittinger/Société du Louvre with its SDL hotel group of over 800 budget hotel Europe saw a large foray into the budget tier. This was further reinforced in 2009 as the group acquired Golden Tulip Hospitality BV who have 260 hotels in 45 countries along with core brands Golden Tulip and Tulip Inn.
According to industry watchers the budget segment is widely attracting more institutional investors due to its lower investment and development profile along with recurring cash yields. In Phuket Golden Tulip recently signed the Mangosteen Resort and have 5 new hotels under development in Thailand.

Other News

Read more

Phuket’s Russian Winter Market Airlift Surge

Category: Tourism, Posted:14 Aug 2022 | 19:39 pm Direct airlift between Moscow and Phuket will resume with flights starting from 30th October. National carrier Aeroflot will offer daily service. Currently,  most Russian travelers fly via the Middle East on Emirates, Qatar, or Etihad. Singapore Airlines previously flew direct to Moscow and connected travelers via a number of flights to Phuket, but suspended services […]
Read more

Global Experiential Hospitality Brand Selina Debuts In Southeast Asia

Category: Hotels, Posted:12 Aug 2022 | 18:12 pm One of the fastest-growing hospitality brands in the world Selina, has opened their first Southeast Asia property in Phuket, Thailand. The 52-key Selina Serenity Rawai Phuket is a conversion of what was previously an independently managed property, and prior to that had been operated by Outrigger Hotels and Resorts. Selina’s DNA is based on local […]
Read more

BDMS To Open Medical Wellness Facility At Laguna Phuket

Category: Real estate, Posted:12 Aug 2022 | 10:27 am The Greater Cherngtalay area in Phuket is set to see a new international-standard medical and wellness facility from leading Thai group BDMS (Bangkok Dusit Medical Services). Located in the middle of the integrated resort development of Laguna Phuket at Canal Village, the offering is targeted at both a growing local and expatriate population and overseas […]
SiaJai logo

Thailand's Leading Homecare Marketplace