Hop Inn has announced its strategic investment plan of 10 billion baht (US$283.4 million) for its Asia-Pacific expansion, with the aim of achieving over 150 hotels and 14,000 keys operating across the region with expected revenue to grow by four times by 2030.
Operating under the Erawan Hop Inn Company, Hop Inn plans to expand to 100 hotels in Thailand, 15 hotels in the Philippines, and 35 hotels in other Asia-Pacific countries. The expansion will be executed either through mergers & acquisitions, newly built, lease and operate and franchise models.
Petch Krainukul, president of Erawan Hop Inn, said: “After nearly a decade of successful operations of the Hop Inn brand in Thailand and the Philippines since its first established in 2014, (now is the time for a) significant shift of our business growth. We are now exploring investment opportunities in other counties in Asia-Pacific.”
He shared that the first move will start in Japan with an investment of 1.7 billion baht for the acquisition of three hotels and one long-term lease hotel within Tokyo and Kyoto. A total of 373 keys are expected to open by 1Q2024.
“It presents significant growth potential and an attractive investment opportunity where we can expand our budget hotel portfolio,” he added.