Bangkok-based Bespoke Hospitality Management Asia (BHMAsia) is planning to raise capital to fund the continued expansion of its hotel management business.
The company has seen a surge in its hotel business in recent years, almost doubling its portfolio in the last 12 months and expanding from its Thailand base to cover Indonesia and Vietnam. It also plans to launch in the Middle East in the second half of 2015.
And according to company founder, Anthony McDonald, BHMAsia is now at a stage where new funding is required to manage the openings planned for 2016 and 2017.
“Although the company is profitable, the growth rate of two-to-three new hotels a month has generated the need for us to seek outside capital,” said McDonald.
He added that the company is looking for between US$1 million and US$5 million in venture capital or investment, prior to the company’s planned listing in a few years.
BHMAsia, which operates the X2 and Away brands, currently operates almost 40 hotels and is planning to expand to a portfolio of more than 50 properties by the end of 2015.
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