KUALA LUMPUR: TA Global Bhd, a property development company, is expanding its hotel portfolio with the acquisition of the five-star Movenpick Karon Beach Resort and Spa in Phuket, Thailand.
The acquisition, which is already completed, will enhance TA Global’s hospitality operations in major cities worldwide and expand its existing portfolio of hospitality properties in Thailand.
“The acquisition of Movenpick Phuket allows the company to further expand its portfolio of hotels in the growing South-East Asian region.
“We are confident the hotel will be able to achieve commendable returns, provide steady revenue stream while enhancing the revenue contribution from the hospitality division to the group,” TA Global executive director Kimmy Khoo said in a statement yesterday.
Movenpick Hotel consists of 175 guestrooms, 163 suites and villas and 30 beachfront two-bedroom apartments.
The hotel is situated 45 minutes from Phuket International Airport and is expected to attract both short and long-stay leisure travellers, families and corporate guests.
TA Global currently has six hotels under its portfolio.
They are namely The Westin Melbourne in Melbourne and Radisson Blu Plaza Hotel Sydney in Australia, Aava Whistler in Canada, Swissotel Merchant Court in Singapore, Swissotel Kunshan in China and the Movenpick Phuket in Thailand.
By Bernama
Wednesday, June 20, 2012
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