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.

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