Kata Group Resorts, the Thailand-based hospitality company, is preparing to embark on a major new phase of expansion.
The company is preparing to undertake an IPO in 2017, in a move that will raise capital for the growth of the company’s portfolio.
One project that has already been announced is The Landmark Patong, a hotel and mall in Phuket, and the company is also looking for new properties in the Thai beach resort towns of Pattaya and Hua Hin.
The company has appointed financial services company Asset Pro Management to prepare it for the listing on the Thai stock exchange. Kata’s president & owner, Pramookpisitt Achariyachai, said the expansion plans are being fuelled by the growth of the Thailand’s tourism and hospitality sectors.
“We feel we still have a lot of room to grow,” said Pramookpisitt. “We currently own and operate six hotels in absolute beachfront locations – with one a two-minute walk from the beach – featuring concepts in the four- and five-star categories, appealing to a wide range of target groups and markets from around the world.
“Our strategy has always been to grow steadily and sustainably. This will not change. We have a strong project in The Landmark Patong and are seeking opportunities in Pattaya and Hua Hin, for which we need capital to fund the growth. This is why we have appointed financial experts in Asset Pro Management to achieve this goal.”
Kata Group Resorts has been operating in Thailand for more than 35 years. Its portfolio now includes three adults-only Beyond Resorts in Krabi, Khao Lak and Phuket, plus the Kandaburi Resort & Spa in Koh Samui and two other properties in Phuket: Kata Beach Resort & Spa and Phuket Orchid Resort & Spa.
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