BTS Group Considers Buying More European Hotels

22 ธ.ค. 2560

BTS Group Considers Buying More European Hotels

BTS Group Holdings Plc wants to acquire another hotel chain in Europe as it looks to increase its global assets, reports local media. The company could spend up to THB10 billion as it looks to increase its average annual net profit growth of 25% in the next 5 years.

“There’s the possibility we might acquire more hotel chains in Europe to expand our hotel business and build a strong global presence,” says BTS Group Chairman Keeree Kanjanapas to the Bangkok Post.

The company has already opened talks with 2 hotel chains in Europe, but their names have not been announced. The 1st hotel company operates wellness resorts in central Europe while the 2nd hotel chain runs smaller hotels in inner city locations. It has hotels in France, Germany, the Czech Republic, and Spain.

BTS Group is eager to increase its presence in the hotel market abroad. Earlier this year it purchased Vienna International Hotel Management AG (Vienna House) through U City Plc, an affiliate company it owns 35.6%t of. The deal was worth THB12.3 billion and saw BTS Group takeover 16 hotels and the operations of 8 more properties in Germany, the Czech Republic, Poland, Romania, Austria, Belarus, France, Russia, and Slovakia.

BTS Group is looking for permission from shareholders that will allow it to restructure and transfer all of its property businesses to its U City affiliate. These businesses include a 50% joint venture that operates the U Hotels & Resorts, Eastin Hotels, Eastin Residences, and Eastin Easy hotel brands and over 20 joint venture condo projects. A number of undeveloped land plots owned by another BTS Group subsidiary would also be moved to U City.

“If the restructuring plan is approved, U City will no longer be a small real estate company, with its business spanning the globe. We expect it will soon be able to start paying dividends to shareholders,” says Keeree.

Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews


ข่าว-บทความอื่นๆ ที่คุณอาจสนใจ

Thai Property Investors Urged To Consider Europe

Thai investors looking to diversify their real estate portfolios should consider property in Europe, according to new research from Credit Suisse Asset Management. The bank believes the region’s mar

อ่านต่อ19 ก.ค. 2560

1st Condo Completed From BTS Group and Sansiri

The Line Jatujak–Mochit has been completed by BTS Group and Sansiri, 2 years after it launched. It is the 1st of many projects being developed by the pair’s joint venture company, BTS Sansiri Hold

อ่านต่อ3 ต.ค. 2560

Origin Property And IHG Sign Partnership For 3 Hotels

Origin Property Plc has reached a deal with InterContinental Hotels Group (IHG) to launch 3 hotels worth THB7.5 billion combined. The 3 properties will be located in Bangkok and Siracha and are aimed

อ่านต่อ15 ธ.ค. 2560