PTT Oil and Retail Business Public Company (OR) will invest in Traveloka through its subsidiary PTTOR International Holdings (Singapore), providing additional lifestyle solutions to OR customers and growth opportunities to both companies in domestic and international markets.
OR and Traveloka will seek new investment opportunities together with partners to provide more solutions to address customers’ needs.
According to Jiraphon Kawswat, president and CEO of OR, the company has chosen to focus on the travel sector as tourism is one of the major economic contributors to the Thai economy.
Kawswat said: “OR foresees many opportunities and possibilities that we can realise from this collaboration. Not only can this partnership provide new opportunities to OR in the travel sector, it can also provide additional venues for OR’s existing partners and business alliances to grow together with OR and to deliver greater offerings and experiences to OR customers.
“Given Traveloka’s position as a leading online platform for travel and lifestyle services in South-east Asia, as well as its strong technology capabilities, I believe there is a range of areas OR can explore together with Traveloka, to further enhance our tech capabilities.”
Ferry Unardi, co-founder and CEO of Traveloka, added: “We see immense value from the collaboration as we see the region growing at a rapid pace, leading to greater opportunities in the industry. We are excited to work with OR, with its expertise in creating great businesses with a customer-focused approach, to capture the demand and provide enhanced solutions to our customers, while also creating new opportunities for our merchant-partners in Thailand and the region.”
IHG Hotels & Resorts signs off two management contracts this week that will see it bring the first Crowne Plaza brand to Penang, Malaysia and a fifth hotel to Rajasthan, India.
In Malaysia, the partnership between IHG and STC Property Management will result in the 343-room Crowne Plaza Penang Butterworth Straits City, set within a sustainable high-end mixed-use development on the waterfront.
Rajit Sukumaran, managing director, South East Asia and Korea, IHG said: “This signing underscores IHG’s commitment to further expand its footprint across Malaysia and grow its portfolio in strategic destinations.”
Crowne Plaza Penang Butterworth Straits City adds to an already impressive list of IHG properties scheduled to open in Malaysia in the next few years, most notably, Crowne Plaza Kota Kinabalu, Crowne Plaza Kuala Lumpur City Centre, Hotel Indigo Kuala Lumpur on the Park, and Kimpton Kuala Lumpur.
Over in India, Crowne Plaza Resort Pushkar will join four other IHG properties – two in operation and two under development – in Rajasthan.
Crowne Plaza Resort Pushkar will be a new-built property featuring 125 rooms and is expected to be operational by early 2026.
Located on the outskirts of Pushkar, the hotel will be well-connected to one of the most significant highways in India passing through Delhi, Mumbai and Jaipur. Set in a serene locale, the hotel will be an ideal choice for leisure travel and destination weddings.
Sudeep Jain, managing director, South West Asia, IHG Hotels & Resorts said: “We are thrilled to announce the signing of a new Crowne Plaza Resort in Pushkar which has become a hotspot for leisure and spiritual tourists visiting Rajasthan. The city’s growing popularity as a weekend and wedding destination also presents a great opportunity for us, and bringing our premium brand, Crowne Plaza to the city will help us cater to this increasing demand.”
He added that there is growing tourism potential in secondary Indian destinations, and the company is committed to “fill the need gap for quality branded accommodation in these cities”.