US-based Standard International, the company behind The Standard Hotels, and the Bunkhouse Group, has recently revealed their plans for the management plan for four new properties in Thailand, in order to take advantage of the strong and stable growth of tourist arrivals in the country.
Company CEO Amar Lalvani, during an interview with local news outlets, revealed their plans, as well as details. The four new hotels in Thailand that’ll be under the Standard brand will be sitting right next to popular destinations, like Sukhumvit malls and Phuket villas; located in four different cities in the country; Bangkok, Hua Hin, Phuket, Pattaya.
These developments, he reports, is only the first step of the company’s plans, not just for Thailand, but across Asia and Europe. By the end of the plan, the company plans to add 15 new properties to its management rights, spread across 12 cities in the two regions, including Bangkok, Chicago, Hua Hin, Jakarta, Lisbon, Mexico City, the Maldives, Pattaya, Paris, and Phuket.
There’ll also be new properties, set to operate as Bunkhouse hotels, located in Austin, Atlanta, and New Orleans.
The first hotel to be built in Thailand, which will be managed by Standard International, is set to open amidst the many Phuket villas by 2021, to be followed by the three others, located in Bangkok, Hua Hin and Pattaya. Lalvani estimates that these four projects will create around 1,000 jobs.
Meanwhile, The Standard London will be opening by June, at Kings Cross, to be followed by the opening of the property in Maldives by the third quarter of the year.
The company is currently managing five hotels as part of the Standard brand, with seven being part of the Bunkhouse brand, in the US.
As part of the plan, the company is aiming to have 27 hotels under their management portfolio by 2023, which would amount to 3,000 rooms, up from its current management load of 1,200 rooms, 1,000 of which under The Standard brand, with the remaining 200 under the Bunkhouse brand.
The company will also be partnering up with Sansiri PLC, a local Thai developer, for the investment of the development of three hotels that Standard International will manage, located in Bangkok, Hua Hin, and Pattaya.