SINGAPORE-based Park Hotel Group (PHG) is poised to reap the rewards of its five-year brand-building programme, with a planned doubling of portfolio in the next five years and an eventual IPO.
Senior vice president Mohd K Rafin would not comment on the IPO, only saying the group aimed to add eight to 10 hotels in the next five years.
Park’s director Allen Law was recently quoted as eyeing a dual listing in Singapore via a REIT (real estate investment trust) and a Hong Kong listing.
Park has been spending S$1.2 million (US$946,000) to S$1.5 million each year from 2007 to 2010, and S$2 million this year – its 50th anniversary – to build brand awareness among consumer and trade.
Separately, it also made strategic acquisitions, including the flagship Grand Park Orchard, and upgraded older properties. The group started with the lone Park Hotel Hong Kong in Tsimshatsui and now operates eight hotels, including three in Singapore, one each in Kunming, Xian and Wuxi, China; and one in Otaru, Japan.
In the past five years, the group also worked to foster a strong corporate culture among staff, culminating in the ongoing branding themed 50 years of loving hospitality. “What it means is, in everything we do – how we treat our customers and staff – we do it with love and passion,” said Rafin. “Corporate culture, leadership and right talent are key to consistency.”
Meanwhile, Rafin said the group was strengthening its sales and marketing by opening three new offices in the Middle East (Dubai or Jeddah), India (New Delhi or Mumbai) and Australia (Sydney).
It has seven regional sales offices now and the three planned openings reflect the markets which are fast growing for its hotels. Currently, its main markets groupwise are Europe, Australia, Japan, South-east Asia, Hong Kong/China and India, according to Rafin.
– Read more in ITB Asia 2011 Official Daily – Day 1 issue
