Emerging Asian hotel investment company – Red Planet Hotels – continues to chronicle an impressive array of achievements as it forges ahead in its mission to place multiple limited service hotels in key Asian cities.
The company is developing a portfolio of Tune hotels in China, Indonesia, Philippines, Thailand and Bangladesh. It is currently constructing 1,023 hotel rooms through six hotels in Indonesia – Jakarta, Thailand – Bangkok and Pattaya, the Philippines – Angeles City and two in Manila. More announcements expected soon.All Red Planet-owned hotels operate under a franchise agreement with Tune Hotels.
Announcing the latest development at the Hotel Investment Conference Asia Pacific (HICAP) in Hong Kong recently, Red Planet Hotels Chief Executive Officer, Tim Hansing said: “Tune Hotels’ business model is solid and complements our investment methodology. Even though many investment companies have been looking to contain expenses and put expansion on the back burner, we were able to go out at the end of global financial crisis in 2009 and raise significant capital.”
“To be able to raise funds and then to quickly secure sites and contracts to have over 1,000 keys under construction is a significant achievement and testament to the strength of our experienced management team and the Tune Hotels business model. We are looking for more opportunities to expand in Asia’s emerging markets with multiple sites in key cities, particularly those that Tune Hotels have interest in,” Hansing said.
Mr Hansing added the limited service hotel synergy presented Red Planet Hotels with some fantastic opportunities for expansion across the region and sites are continually being scoped and investigated.
Tune Hotels is part of the Tune Group, the private investment group of Dato’ Sri Tony Fernandes, founder and Group CEO of low cost carrier AirAsia and Team Principal of the Lotus Racing F1 team.
Tune Hotels is a rapidly growing chain of hotels that have embraced the limited service model used by low cost airlines and employ a self-service online booking system encouraging guests to book early to enjoy exceptionally low prices. Using the demand-based pricing booking system, guests can book rooms at prices starting from USD3.00 (or even lower during promotion periods) through the web.
It currently operates ten hotels – seven in Malaysia, two in Bali, Indonesia and one in London, England; and has entered into strategic partnerships to open 20 hotels in India and a further 14 hotels in the United Kingdom.