Movenpick Hotels and Resorts is mapping a portfolio expansion in the Thai market with an objective to operate three hotels over the next few years, said Mark Willis, president of Asia for the company.
Mr Willis, who began overseeing operations in Asia since January this year, said Thailand is a key market for the group because of the huge potential in the travel and hotel business. The group is optimistic about growth for Asia over the long term.
In order to capitalise on this bright future, Movenpick rejigged its expansion plans for Thailand and the region. In Thailand, it is set to operate Movenpick Asara Resort and Spa Hua Hin, with 96 rooms (all suites and pool villas) starting in March this year. Movenpick Resort Khao Yai, with 62 rooms and 49 villas is scheduled to open in the next two months, while Movenpick Resort Mai Khao in Phuket is expected to open next year.
"Generally, Thailand has a reputation as a safe destination and a good environment for travel and doing business. However, Thailand should not grow alone, complementing other countries such as Vietnam," he said.
The group projects its rooms in Thailand will increase from 1,382 at six properties to 1,589 at the end of 2018.
The average occupancy rate at Movenpick properties in Thailand last year rose 5% year-on-year from 2016.
"We expect to see the average occupancy rate in Thailand grow by 3% this year, with the rate for Asia projected to gain 4%. The lower rate in Thailand is because hotels are already running at high occupancy, up to 99% at some properties," said Mr Willis.
Last year, Movenpick expanded throughout the region, opening Movenpick Hotel Colombo with 219 rooms in January; Movenpick Resort and Spa Jimbaran Bali with 297 rooms in January; Movenpick Residences Ekkamai Bangkok with 158 residences in March; Movenpick Resort and Spa Boracay in the Philippines with 312 rooms in November; and Movenpick Suriwongse Hotel Chiang Mai with 262 rooms in November.
"The company seeks more opportunities in the Thai market. We hope to achieve deals for more hotels in Bangkok, Chiang Mai and Pattaya," he said.
For Asia, a total of 1,652 rooms are projected to be added by the end of 2018, resulting in a total of 4,261 rooms, or over 50% more than the figure in 2017.
Mr Willis said the main markets for hotels are in Asia such as China, Thailand, South Korea and Japan (60%), with Europe filling only 25% of the portfolio and the Middle East and India 15%.
The company plans to open the following hotels in Vietnam: Movenpick Resort Cam Ranh (2018), Movenpick Resort Lang Ko (2019), Movenpick Resort Phu Quoc (2019), Movenpick Resort & Spa Quy Nhon (2020), Movenpick Hotels Quang Binh (2020), and Movenpick Hotel and Residences Han River, Danang (2020).
A hotel and guest house in Chifeng, China is scheduled to open its doors this year, as is a resort and spa in Kuredhivaru Maldives. In the Philippines, a hotel and residences in Quezon City is projected for 2021. In Bangladesh, Movenpick Hotel Sylhet (2018) and Movenpick Hotel Khulna (2020) and planned for the next three years. In Malaysia, a hotel and convention centre at Kuala Lumpur airport is planned for 2018, a resort and spa in Chendering for 2019 and a hotel in Kota Bharu for 2020.