Aiken Spence adds two new properties in the Maldives

Aitken Spence Hotels, a Sri Lanka-based hotel operator, has announced its acquisition of two new properties in the Maldives. According to TTG Asia, the company has invested US$ 5 million to lease the Raafushi Island in Noonu Atoll, where it will build a four-star resort. A further investment of UD$ 50 million will go into developing a 163-key five star property on Aaarah Island in Raa Atoll. The new additions to its portfolio will make Aitken Spence the largest foreign hotel operator in the Maldives. The developments will join some 1,700 rooms currently within the Maldives’ new supply pipeline. In the first quarter of 2015, the destination enjoyed a slight growth in international visitor arrivals, accumulating 329,968 arrivals in the first three months, a 2.6% increase from the first quarter of 2014. The Maldives received a record 1.2 million visitors in 2014, an annual growth of 7.1% from 2013. Its top five feeder markets include China, Germany, the UK, Russia and Italy.

Movenpick Hotel debuts in Bangkok

Mövenpick Hotels & Resorts, a Swiss Hospitality firm, recently unveiled its first property in Bangkok. Located on Sukhumvit 15, the 297-rooms Mövenpick Hotel Bangkok is strategically positioned in the centre of Bangkok’s business, entertainment and leisure districts. The hotel offers gastronomic restaurants of European, International and Thai cuisines; a 20-metre rooftop pool and bar with views of the Bangkok skyline; 330m2 of meeting facilities and a courtyard featuring a two-storey waterfall. The company also plans to open Mövenpick Siam Hotel Pattaya by the first quarter of 2016, as well as Mövenpick Hotel Chiang Mai, Suriwongse by 2017. Its existing properties include a property in Laen Yai Beach Samui and two properties in Phuket, located in Bangtao Beach and Karon Beach. Aside from the developments in Thailand, the company has pipeline in China, Malaysia, Vietnam and Tunisia.

Budget Hotel Aggregators in India witnessing heightened investor interest

Budget hotel aggregators in India, which work on an asset-light strategy wherein they partner with small hotels by providing them with their brand names and standardized services, are witnessing a steep growth in India backed by keen investor interest from leading venture capital funds tracking early-stage startups. A recent example is Accel Partners and Kalaari Capital having invested US$ 5 million into Fabhotels.com, formerly called Casa2Inns. At the same time, Tiger Global in conjunction with Orios Venture Partners is rumoured to be in talks with Zo Rooms for closing a US$ 10 million financing round, while OYO Rooms is in the midst of raising US$ 100 million from Softbank. Another player, Stayzilla.com, raised US$ 20 million in its B-round of funding from Nexus Capital and existing investor Matrix Partners, in February this year. Besides adding rooms, these companies are strongly focusing on developing appropriate consumer and operator facing technology in order to deliver the right experience. Marketing and brand building are also focus areas for these aggregators.

Absolute Share Price Performance, as at 28 May 2015