Last year, Singha Estate, the property arm of Thailand's Singha Corporation, bought 26 UK hotels with 2,880 rooms for Bt8.8 billion. Today, Singha Estate is planning to invest Bt20 billion in real estate projects this year, including more than Bt1 billion to acquire a British hotel chain with nearly 1,000 guestrooms. "Besides England, we're also looking for potential acquisition deals for hotels in Germany and Spain," CEO Naris Cheyklin said.
About 80 percent of the capital-expenditure budget will be spent on six to seven joint-venture and acquisition deals, including hotels, industrial estates, logistics, warehouses and shopping malls.
The company is also looking for businesses, especially hotels and logistics companies, in Cambodia, Laos, Myanmar and Vietnam, with the focus on Myanmar and Vietnam, over the next two to three years. "We will diversify our investment to different products and different markets to avoid risks," Cheyklin said.
The expansion is in line with the company's five-year business plan to boost annual revenue to Bt30 billion by 2020 from Bt7 billion projected for this year. "We expect the contribution from overseas businesses to soar from 20 percent of total revenue to 30-40 percent in five years," Cheyklin said.