Red Planet Hotels
| Red Planet Hotels Limited | |
|---|---|
| legal form | Pte Ltd. |
| founding | 2010 |
| Seat | Bangkok , Thailand |
| management | Timothy Hansing |
| Branch | Hotel industry |
| Website | www.redplanethotels.com |
Red Planet Hotels is a privately owned hotel operator founded in 2010 that focuses on the hotel sector in Asia. The company is based in Bangkok , Thailand. At the end of 2016, the company owned and operated 26 hotels in Indonesia , Japan , the Philippines and Thailand , and twelve more hotels are in the making.
Company history
Founded in Red Planet Hotels in 2010 and started the business with a strategic partnership with Tune Hotels , one on the Malaysian Tune Group owned hotel chain in the low-price sector. As a franchisee, Red Planet Hotels opened the first hotel under the Tune Hotels brand in Hat Yai, Thailand, in December 2011 . As part of the strategic partnership with Tune Hotels , Red Planet Hotels concentrated on building additional hotels in Indonesia, Japan, the Philippines and Thailand, while Tune Hotels initially limited itself to its home country Malaysia. In 2012, Red Planet Hotels held around 16% of the company shares in Tune Hotels through investments and thus became its third largest investor. From 2012 to 2015, numerous other hotel openings followed in quick succession and the company grew rapidly.
In July 2015, Red Planet Hotels separated from Tune and withdrew the 24 hotels previously operated under the Tune Hotels brand from the group in order to operate them in the future under its own Red Planet Hotels brand . The management justified this step with different strategies for the future direction. While Tune Hotels was increasingly orienting itself towards Europe , having already opened several hotels there in Great Britain , Red Planet Hotels sees itself as a Southeast Asian company and would like to focus on its home region. The renaming of the 24 hotels in Indonesia, Japan, the Philippines and Thailand was completed within 3 months. Tune Hotels lost around half of the previous hotels under the Tune brand and remained with 23 of their own hotels, mostly in their home country Malaysia and in Great Britain.
Investments and outsourced subsidiaries
In September 2016, the US investment bank Goldmann Sachs invested 70 million US dollars in Red Planet Hotels to finance their expansion and the opening of ten more hotels over the next two years. Since 2010, the company has already raised $ 240 in capital from investors, which has enabled their rapid growth.
The Japanese subsidiary is listed on the Tokyo Stock Exchange and, since 2014, the Indonesian subsidiary is also listed on the Indonesian Stock Exchange .
Hotel locations
All Red Planet Hotels are located near public transportation hubs.
In December 2016, Red Planet Hotels operates 26 hotels in 4 countries and has 12 more hotels in the planning and construction phase.
Individual evidence
- ↑ Borneo Post online: Tune Hotels begins foray into Thailand with the opening of the Hat Yai branch , accessed on March 21, 2017
- ↑ hospitalitynet.org: Red Planet Hotels becomes third largest investor in Tune Hotels , accessed on March 21, 2017
- ↑ traveltrends.biz: Red Planet Hotels says goodbye to Tune , accessed on March 21, 2017
- ↑ reuters.com: Goldmann Sachs invests $ 70 million in Red Planet Hotels (English), accessed on March 21, 2017
- ↑ corporate.redplanethotels.com: Red Planet Hotels - Upcoming Openings , accessed on March 21, 2017