Absolute Hotel Services to buy 20 new hotels over five years

Absolute Hotel Services, a local hotel management firm, is eyeing the purchase of at least 20 hotels abroad in the next five years.

A new company will also be established in London in Q3 2014. Additionally, a venture fund with $100 million in assets is already committed to be one of the key stakeholders. Jonathan Wigley, chief executive of Absolute, expects to see the company listed on the London Stock Exchange.

Currently, Absolute operates 22 hotels, 12 of which are in Thailand. The company expects to add 40 new properties to its portfolio this year.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

Suggested Articles

Gross operating profit per available room dropped to -$17.98 while total RevPAR dropped 92.9 percent to $17.39 for the month.

As businesses plan their back-to-work strategies, implementing a safe workplace is at the top of every executive’s mind.

The company is extending furloughs of above-property employees and anticipates a significant number of position eliminations later this year.