Saturday, July 6, 2024 S Hotels and Resorts PCL , a subsidiary of Singha Estate PCL , a leading international development company, has announced a strategic partnership with The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment . This collaboration marks the first strategic alliance between two leading Asian hospitality brands. It is a significant step forward in S Hotels & Resorts’ strategy to strengthen its portfolio in the UK while enabling Ascott’s expansion in Europe.
Looking ahead, the companies plan to broaden their collaboration to other countries. The UK is S Hotels & Resorts’ largest market, with 25 hotels comprising 2,678 keys nationwide. This strategic partnership will play a major role in diversifying the company’s portfolio and driving sustainable revenue growth, helping S Hotels & Resorts achieve its target of THB 11 billion (approx.
USD 299 million) in total full-year revenue for 2024. Ms. Thitima Rungkwansiriroj, Chief Executive Officer, Singha Estate PCL, commented: “We are excited to partner with Ascott to enhance our presence in the UK and provide our discerning guests with exceptional experiences through international management for hotels located in strategic locations.
This will lead to market expansion both domestically and internationally, ultimately resulting in sustainable financial returns. This partnership will strengthen our position as a leading international investment and development company.” Mr.
Michae.