Hotel management firm has ambitious expansion plans here and abroad
Play
BESPOKE HOSPITALITY Management Asia (BHMA) plans to sign 20 management contracts per year with hotels domestically and overseas to cash in on the growth of the tourism industry.
Meanwhile, the group will focus more on non-core business including yachts, private cruises, private jets, limousines and spas.
Anthony McDonald, group chief executive officer, said BHMA expected to sign 20 management contracts this year and about the same number over each of the next three years.
Currently, the group operates hotels under four brands, namely X2, X2 Vibe, Away, and Golden Tulip. There are 11 X2 hotels and another 14 planned, one X2 Vibe and eight planned. The number of Golden Tulips is to double from the current three. Within three years there are to be 44 properties in total, consisting of more than 3,000 rooms.
Some of hotels signing management contracts are abroad, including Vietnam and Indonesia.
Of the total properties in the group, McDonald wholly owns three hotels. They are X2 in Kui Buri, Prachuap Khiri Khan province, X2 on Koh Samui, and Away on Koh Kut in Trat province.
He said the group would expand into Myanmar, Luang Prabang in Laos, and Seam Reap in Cambodia this year to manage hotels there. The group is also eyeing opportunities in other regions such as Europe, the Middle East and Japan.
The expansion will be mostly in the form of management contracts, while some may be joint ventures.
McDonald said the company targeted revenue to double this year and next because of new hotel openings and more contracts.
McDonald married a Thai and began running an automobile business in Thailand 10 years ago before entering the hospitality business eight years ago with the opening of X2 hotel in Kui Buri. He has been focusing on the hotel business ever since.
About five years ago, he formed BHMA to manage independent hotels and resorts under three brands, X2, X2 Vibe and Away.
He joined forces with a French investor a few years ago to seek new investment opportunities in Thailand and other countries. He also signed an agreement with the Louvre Hotels Group of France a few years ago as master franchise of the popular Tulip brand.
Aside from hotel business, the group also plans to focus more on related services such as yachts, cruises, supercar rental, spas, private jets and property management.
Revenue from non-hotel ventures is still small, but is expected to increase to 20 per cent over next three to four years.
