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Fri, 9 Nov 2018

The Standard Hotels and Residences Unveils Major Expansion Plans

As part of its recent expansion into the global hospitality, technology and lifestyle industries through an investment worth US$80 million in six global brands, Sansiri has announced the arrival in the Thai market of The Standard Hotels and Residences.

Apichart Chutrakul, Chief Executive Officer, Sansiri Public Company Limited, said, "In November 2017, we announced our investments in several global brands that are leaders in the hospitality, technology and lifestyle businesses as part of Sansiri's move to expand our collaborative, multi-disciplinary portfolio beyond real estate development. I'm delighted to share that only one year on, the investment has helped to fuel impressive growth that will see two of the brands -- The Standard and One Night -- expand into the lucrative Asian markets, with Thailand as their first port of call."

Apichart Chutrakul (Center), Chief Executive Officer, Sansiri Public Company Limited, Amar Lalvani (Left), Chief Executive Officer, Standard International and Jimmy Suh (Right), President and Co-founder of One Night jointly announced The Standard Hotels global expansion plans and Asia’s first launch of the One Night spontaneous hotel booking app in Bangkok. Click to enlarge.

The Standard doubled its secured global footprint following Sansiri's acquisition of a 35% stake in the parent company for US$58 million.

 Ten properties are slated to open across the world including two in Thailand over the next few years, as part of a five-year plan to develop 20 hotels globally, including London (opening Q1:2019), Paris, Milan, Berlin, Lisbon, Prague, Madrid, Chicago, Las Vegas, New Orleans, Atlanta, Dubai, Singapore, mainland China, Hong Kong, Taiwan, Bangkok, Phuket, Hua Hin, Jakarta and Bali.

Amar Lalvani, CEO, Standard International, said, "Our first hotel in Thailand will be in Phuket where we will also introduce the first Standard Residences product in partnership with Sansiri. Thailand is a particularly attractive market with the growth in visitor arrivals and the fit with The Standard brand giving its thriving culinary, fashion and arts scene. We have chosen to open our regional office in Bangkok to oversee all of our operations in Asia and the Middle East."

With its existing portfolio of six properties and a combined 1,200 rooms (including the soon to open London property), The Standard generates annual property level revenue of approximately US$200 million, with an average occupancy rate of 85%.

One Night is a hotel booking app. In addition to Bangkok, One Night is operating in 15 major cities in the United States and London with over 170 independent hotels. One Night is projected to be in 30 cities by the end of 2019, including more cities in Asia and Europe.

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