By The Nation
This forms part of the developer’s recent expansion into the global hospitality, technology and lifestyle industries through an investment worth US$80 million (Bt2.63 billion) in six global brands.
The brands’ move to Asia followed rapid growth fuelled by significant investments from Sansiri last year.
Standard International has doubled its secured footprint globally from five to 10 hotels within one year and plans to double again to 20 within five years, while One Night will now expand its reach to the thriving Asian market, starting with Bangkok.
Apichart Chutrakul, Sansiri’s chief executive officer, said on Tuesday: “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.”
The Standard, considered the most powerful brand in the boutique hotel business, doubled its secured global footprint following Sansiri’s acquisition of a 35-per-cent stake in the parent company for $58 million.
Ten properties are slated to open across the world, including two in Thailand over the next few years, as part of its five-year plan to develop 20 hotels globally in thriving urban and intriguing resort locations.
The plan includes and targets new hotels in London (opening in the first quarter of 2019), Paris, Milan, Berlin, Lisbon, Prague, Madrid, Chicago, Las Vegas, New Orleans, Atlanta, Dubai, Singapore, China, Hong Kong, Taiwan, Bangkok, Phuket, Hua Hin, Jakarta and Bali. The Standard has secured deals or is now in advanced discussions in all of these markets.
Amar Lalvani, CEO of Standard International, said: “The arrival of The Standard brand in new locations across the world, including Thailand, will bring our unique approach to hospitality to many more people to enjoy. We create spaces that are culturally relevant to each market brought to life through our thoughtfully designed spaces and experiences for guests and locals alike.”
“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 for us with the country’s many attractions and growth in visitors, as well as the fit with The Standard brand given 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,” he added.