S Hotels & Resorts has teamed up with The Ascott Limited (Ascott) to strengthen the former’s portfolio in the UK, while expanding Ascott’s in Europe.
S Hotels & Resorts’ portfolio features 25 hotels comprising 2,678 keys nationwide, with the UK as its largest market.
This partnership will play a major role in contributing to the diversification of S Hotels & Resorts’ portfolio and sustainable revenue growth, helping the company to achieve its target of 11 billion baht (US$299 million) in total full-year revenue in 2024.
“This is an important step forward in our business strategy, as we continue to broaden our portfolio by introducing international brands to the UK market and creating new opportunities for growth,” said Michael Marshall, CEO of S Hotels & Resorts.
Ascott’s CEO Kevin Goh added: “As an Asia-based hospitality company with 40 years of track record, our strong relationships with owners in this region has been key to Ascott’s success. We look forward to bolstering our partnership network by forging new relationships with owners and strengthening ties with existing ones as we chart Ascott’s global expansion.”
