Thai Group On Overseas Hotel Buying Spree
Thai property group Singha Estate has been making headline news in hotel circles with their acquisition of a hospitality chain in the UK.
Singha partnered with another Thailand-based firm FICO on the purchase of Jupiter Hotel Holdings who operate 26 properties under ACCOR’s Mercure flag.
More reports are circulating in the business community that Singha is expected to add to the portfolio in the near future and will use the venture for continued expansion in the UK and Europe.
Thailand’s hotel groups are increasing their exposure to overseas assets and diversification seems to be the order of the day as Asia’s sector remains highly priced and investment yields are under attack.