S Hotels & Resorts, the international hospitality arm of Singha Estate, has announced plans to add 50 new hotels and resorts over the next five years.
It is targeting a revenue of Bt12bn ($332.78m) across five international markets, according to a press release posted on HospitalityNet.
The company noted that its growth will be driven by operational efficiencies, renovations, rebranding of key properties, and the development of its SAii resort brand.
The expansion strategy also includes mergers and acquisitions, with Bt15bn ($415.97m) allocated for seizing opportunities across the Asia Pacific, Fiji, Europe, and the Indian Ocean.
S Hotels & Resorts CEO Michael Marshall said: “The continued resurgence of the global tourism industry throughout 2023 and the advantageous locations of our hotels in leading tourist destinations have contributed to S Hotels & Resorts’ notable successes.
“We have achieved a Bt10bn revenue milestone and maintained our position as the No. 2 Thai hotel operator in terms of revenue.”
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By GlobalDataLast October, the company unveiled a $27m renovation plan for its resorts in Thailand and Fiji.
The resorts SAii Laguna Phuket, SAii Phi Phi Island Village and SAii Koh Samui Choengmon are currently under renovation.
Meanwhile, properties in UK cities such as Manchester, Edinburgh, Leicester, and Glasgow are under review for potential repositioning.
The company also aims to cut carbon emissions by 5% annually, starting this year. It plans to achieve this with the installation of solar panels at its resorts in Thailand and the Maldives.
In December 2023, the company signed a memorandum of understanding (MOU) with the Maldivian Ministry of Climate Change, Environment & Energy.
This MOU has incorporated CROSSROADS Maldives’ conservation area into an OECMs programme to protect 3.1 million square feet of marine space.
The group’s Marine Discovery Centres in Thailand and the Maldives aim to attract 50,000 visitors yearly, offering educational activities and conservation projects.
Additionally, the resorts’ restaurants are said to be committed to using locally sourced produce and implementing farm-to-table menus.
S Hotels & Resorts’ current portfolio of hotels includes Castaway Island, Fiji; Mercure Hotels & Holiday Inn Hotels and Konotta Maldives, among others.
