Centara Aims for 65 Properties within Next 5 Years

Thailand-based Centara Hotels & Resorts, has said that it intends to acquire more properties to manage in addition to operating its own properties, following the success of its first managed hotel, the Centara Duangtawan Hotel in Chiang Mai.

The company anticipates the proportion of its hotel management business and own-hotel business will change to 40:60 over the next five years from its present level of 20:80.

In the four years since the Centara Duangtawan has been under Centara management, the hotel’s performance has exceeded anticipations.

Centara, which currently has 23 hotels and resorts in its portfolio, manages eight of the properties for other owners. The company directly owns nine of its properties, with another four owned through joint ventures.

“We have a target for increasing our number of properties to 65 within the next five years,” said Gerd Steeb, president of Centara Hotels & Resorts. “These will be both in Thailand and overseas, and will include a substantial number of managed properties.

“Following the successful opening of the Centara Grand Mirage Beach Resort Pattaya our intention is to open other theme hotels, and we currently have Hua Hin and Phuket under consideration.”

“Our strategy also includes the creation of a new mid-priced brand next year, which will enable us both to build on our presence in existing destinations and to go into new destinations.”

The group is eyeing hotel management business in the Middle East, India, China, Asia Pacific, and South East Asia.

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