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Published on : Wednesday, May 20, 2015
Asia-Pacific hotel management, development and consulting group, Bespoke Hospitality Management Asia or BHMAsia has seen a surge in its hotel and resorts management business, expanding from 20 properties to now nearly 40 properties in over the last 12 months. At the same time the company has expanded from Thailand to cover Indonesia and Vietnam, with launch plans for the Middle East in the second half of 2015.
According to company founder Anthony McDonald, the company and its X2 (Cross To) design hotel brand are at a stage where an increase in the operating platform is required to service the new openings planned for 2016 and 2017. “Although the company is profitable, the growth rate of 2-3 new hotels a month has generated the need for us to seek outside capital,” said Mr. McDonald.
Currently the company is looking for $USD1-5 million in venture capital or strategic investment that would provide investors participation in the company, prior to its planned listing in a few years.
As the largest chain of design hotels in the Asia Pacific region, its X2 brand has gained notable traction in the market, for both hotels/resorts and now also branded residences. “Developers in the region have realized the huge value of having the X2 brand on their developments, in terms of sales take-up and rental management post completion. The company has tailored solutions that greatly reduce marketing and sales costs for developers, whilst allowing them to achieve premium pricing over other similar properties,” added Mr. McDonald.
With over 50 properties forecast by the end of 2015 in four countries, X2 and BHMAsia have very quickly and successfully positioned them self as a credible player in the hotel management arena, and in particular in the fast growing lifestyle and design hotel segment. This should appeal to many investors looking for exposure in that segment, and to those that want to participate in what is one of the regions fastest growing hotel management groups.