Top News Slumber Party Hostels continues expansion with Bodega Hostels acquisition By TTG Asia / Posted on 26 April, 2021 15:47 Collective Hospitality, the owner and operator of Slumber Party Hostels (SHG), Path and Socialtel brands, has acquired Bodega Hostels, making it the largest hostel company in South-east Asia and fourth largest globally. Following the acquisition, SHG now operates 25 properties and more than 2,500 beds across Thailand, Indonesia and Cambodia. Acquisition of Bodega Hostels brings SHG’s total number of properties across South-east Asia to 25 Established in 2013, Bodega Hostels operates nine hostels in key tourist markets including two in Bangkok, two in Chiang Mai, and one each in Koh Phangan, Mae Hong Son, Phuket, Ao Nang and Siem Reap. “This acquisition was a strategic move aimed at growing our market share and expanding the expertise in our workforce by bringing skilled team members into the company,” said Edmund Lowman, founder of SHG and CEO of Collective Hospitality. He added that “SHG itself has also acquired five new properties in Koh Tao, Koh Phangan, Koh Phi Phi and two in Indonesia – Lombok and Bali”. While the Covid-19 crisis has decimated the travel and tourism industry over the past year, Collective Hospitality said in a press release that it has identified key business expansion opportunities, driven by its “robust and experience-focused business model”. “Implementation of our business model will add value to the newly-acquired assets through diversification of revenue streams, development of brand presence and centralised strategic support,” said Lowman. He added: “As the bruised travel industry awaits vaccine distribution, a quick rebound in demand is likely to happen. For Asia, a gradual but full recovery is expected to happen, leading to strong capital appreciation in the coming three to five years”. Most recently, SHG announced the construction completion of their flagship Socialtel property, a 130-room hostel in Koh Samui with facilities including a beach club, speakeasy, IV bar and a co-working space. Collective Hospitality is currently pursuing leasing and management opportunities with operators and owners of properties in Sri Lanka, Vietnam, the Philippines and Indonesia.