Mövenpick set to expand in Asia

Continuing its expansion in Asia, Mövenpick Hotels & Resorts plans to open its first property in Indonesia over the next three years as one of eight new hotels the group plans to launch in the region.

The Mövenpick Resort & Spa Jimbaran will have 295 rooms, a ballroom, business centre and meeting rooms all in the scenic island of Bali, which the company sees as an ideal place to launch its first Asian property.

The company is also looking at building hotels in Jakarta, Surabaya and Bandung, all in Indonesia. The fast-growing Southeast Asia country is a key market for expansion, said CEO Andreas Mattmüller, speaking during a recent event.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The Mövenpick Siam Hotel Pattaya is set to open in the first quarter of next year, which will add to the group’s portfolio of properties in Thailand that includes properties in Bangkok, Phuket and Koh Samui.

For its next steps, the group is looking at new properties in Malaysia, the Philippines, Mainland China and Vietnam, most of them markets often considered to be underservice. 

Suggested Articles

The sales included that of the 503-room Hilton São Paulo Morumbi, the real estate investment trust’s last international property.

After disbursing 50 years' worth of hotel assets, the company is focused on worldwide growth in the luxury sector.

Co-living brand The Collective has agreed a new £140m financing package from Deutsche Bank and GCP Asset Backed Income Fund.