Thailand’s Centel to focus on hotel management
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Bangkok-based Central Plaza Hotel Plc (Centel) will begin to shift its focus to hotel management more heavily next year, the Bangkok Post has reported. The company has existing success with its Centara Hotel & Resorts brand, and is reported to believe that this arm will help Central to grow rapidly in the long term.
Centel has eight management contracts so far – three hotels already being managed, and five other agreements to be operational by 2010, according to Jean Marc Garret, the company’s Vice-President for Development. In the first nine months of this year, total revenue of Centara Hotels and Resorts amounted to THB2.55 billion (US$73 million), a rise of 24% from the same period last year. It expects 2008 revenue to grow by at least 22% this year and 20% in 2009.
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