The Standard to enter Thailand with five new hotels
US-based Standard International, the parent company of The Standard Hotels and the Bunkhouse Group, plans to manage 25 hotels globally within the next five years, including in Thailand, due to the continuous growth in tourist arrivals that are averaging 7 per cent yearly.
Five new hotels in Thailand will come under The Standard brand will be located in Bangkok, Phuket, Samui, Pattaya, and Hua Hin, the company’s CEO, Amar Lalvani, said in a group interview on Wednesday.
Currently, the company operates six hotels under The Standard brand in the US.
The move into Thailand is the first step of its plan to add 19 new hotels to its management rights, under which properties in 16 Asian and European cities will come under The Standard brand including in Bangkok, Samui, Phuket, Pattaya, Hua Hin, London, Paris, Lisbon, Mexico City, Chicago, the Maldives and Jakarta.
Their first hotel in Thailand, to be managed by Standard International, will open in Samui in 2020, followed by four others in Phuket, Hua Hin, Pattaya and Bangkok.
Two of the five in Thailand – located in Phuket and Hua Hin – will be developed by Sansiri Plc, a property developer that holds a 35-per-cent stake in Standard International.
“We cannot say how much investment [we will have in the] two new hotels, but our project in Phuket will have a condominium project for sale that will manage facilities by Standard International,” Sansiri Plc’s board of directors and senior advisor, Supakorn Vejjajiva, said.
Meanwhile, the Standard, London at Kings Cross opened in July of 2019, and will officially hold their Grand Opening event in September, followed by a Maldives property in October this year, Lalvani said.
Its hotels now under its management are recording an average occupancy rate of 85 per cent, he said.
“We will take 5 per cent of the new hotels’ total revenue as the manager, and not the owners, of the properties,” Lalvani said.
The Standard started expanding in Asia and Europe as it saw market opportunities emerging. It plans to launch a new service under a new brand this year to provide consultancy and support to hotels in need of renovation or extending their properties.
“We will offer our expertise on renovation, decoration and management. This is the new model to expand our business,” Lalvani said.