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MBK unit plans acquisitions of hotels here and abroad

Mar 14. 2016
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MBK HOTEL and Tourism Co plans to take over hotels inside and outside Thailand starting next year in order to achieve annual revenue of Bt2 billion by 2020.
“We plan to open three new hotels this year in Krabi, Phuket and Ranong worth up to Bt230 million,” deputy managing director Arthorn Vana-santakul told The Nation. “We also plan to acquire hotels domestically and overseas [beginning] next year.”
The new investments will focus on those provinces close to neighbouring countries in the Northeast of Thailand such as Udon Thani and Nong Kai, as well as resort areas such as Hua Hin, Cha-am and Pattaya.
Its overseas investments will focus on Asia and Europe, she said.
Arthorn added that the business expansion would also cover the management of chain hotels now that the company has a hospitality academy to train people to respond to the demand for staff in this industry.
This year and in 2017, the company will build on its own brands, including Tinidee and Layana, by renaming Pathumwan Princess Hotel and Dusit Thani Krabi Beach Resort, which now are managed by Dusit Group.
“When we have strong brands, that will contribute to strong long-term growth of our hotel-management business,” she said.
Through aggressive business expansion, the company targets revenue growth averaging 8 per cent a year. This year, it targets revenue of between Bt1.5 billion and Bt1.6 billion, up from Bt1.4 billion last year. 
The company targets annual revenue of Bt2 billion by 2020, she said.
At present, MBK Hotel and Tourism Co owns eight hotel properties and one restaurant. The hotels are Pathumwan Princess Hotel, Dusit Thani Krabi Beach Resort, Tinidee Golf Resort @ Phuket, Tinidee Hotel @ Ranong, Riverdale Golf Club, Loch Palm Golf Club, Red Mountain Golf Club, and Layana Resort & Spa. They comprise 1,223 rooms.
Its restaurant is The Fifth Food Avenue in Bangkok’s MBK Center. 
The group recorded an occupancy rate of about 70 per cent last year.

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