Thailand’s Astudo Hotel & Resort Management will spend THB950 million (US$27.9 million) developing four new hotels in the Kingdom, the Bangkok Post has reported. Two of the resorts, in Krabi and Phuket, will be developed by individually by Astudo, while the other two, on Koh Samui and Koh Phangan, will be joint ventures, according to the company’s CEO and founder Anthony McDonald.
“After managing hotels for others, we see a high opportunity for hotels with 50 to 200 rooms and in this segment you won’t have to fight with big chains,” McDonald said.
Astudo began three years ago and currently manages eight hotels, under its X2, Away and Le Bayburi brands. It also plans to introduce a new brand – ‘The Base’ – for budget and business hotels.
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