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S Hotels and Resorts Public Company Limited (SHR), the flagship hospitality arm of Thailand’s Singha Estate PCL, expects to rebound from the COVID-19 induced global downturn and has reiterated its commitment to its long-term expansion strategy, which will see the company double in size within five years.
According to Dirk De Cuyper, SHR Chief Executive Officer said SHR felt the effect of this year’s worldwide travel restrictions, as all 39 of its hotels and resorts on five countries had to suspend operations temporarily. But with life and travel now resuming in many countries, SHR has embarked on a progressive reopening plan, in line with the “new normal” of enhanced health and hygiene protocols, and a proactive effort to drive business back to its entire portfolio of properties.
“In the short-term, SHR will roll-out a series of innovative commercial initiatives that target the domestic and intra-regional markets, to help its existing collection of hotels adapt to the changing conditions,” he said.
He explained that looking ahead, the group will continue to pursue its ambitious expansion goals, with a target of doubling its portfolio within five years through international investments, acquisitions and hotel management agreements. This will include the growth of its new upper-upscale resort concept, SAii, which launched in late 2019 to attract free-spirited, experience-seeking travellers.
“The global pandemic has caused unprecedented disruption to the global hospitality industry, and SHR was certainly not immune to its impact. We are confident however, that our company’s structure and key strengths – including our upper-upscale and leisure positioning – will help us bounce back more easily. With our healthy capital structure and low debt, we are aiming to build a strong and sustainable future for SHR,” Dirk De Cuyper noted.
He added SHR’s recovery has already started, with seven hotels and resorts having reopened their doors in July. In Thailand, every SHR property will be participating the government’s “Rao Tiew Duay Kan” (We Go Travel Together) campaign, which is offering 40% discounts worth up to THB 3,000 per room per night for a maximum of five nights. [traveltext.id]
