StayWell targets China and Southeast Asia in major growth plan

StayWell Hospitality Group is planning to launch multiple new hotels in China and Southeast Asia, as the company continues to grow from its Australian roots.

Speaking to Travel Daily last week, StayWell’s CEO, Simon Wan, revealed that his company is in advanced negotiations for new hotels in the key Southeast Asian gateway cities of Bangkok, Jakarta and Kuala Lumpur. He is also on the verge of signing a joint venture in China that would lead to several new StayWell-branded properties in the country.

“At this stage we’re negotiating a joint venture with a state-owned company,” said Wan. “[We would] manage their hotels in China, help attract foreign business to their hotels and identify future overseas projects.”

Initially, StayWell would manage “probably about half a dozen” of the Chinese company’s properties under its Park Regis or Leisure Inn brands. Wan added that the joint venture will only cover the management of hotels, and the two companies have “not discussed” mutual equity investments.

In terms of Southeast Asia, StayWell is looking to build upon the recent revamp of its Park Regis hotel in Singapore by expanding into more key regional cities.

“We are negotiating hotels in Kuala Lumpur, Jakarta and Bangkok,” Wan revealed. In terms of the Bangkok property, Wan added that he hopes to enter into an MoU, following which StayWell would invest in a refurbishment of the hotel to bring it into line with Park Regis standards.

The Park Regis Singapore was recent upgraded
The Park Regis Singapore was recently upgraded
The KL and Jakarta properties will also operate under the Park Regis brand.

The launch of hotels in these key cities forms part of StayWell’s longer-term plan to “build a strong network in [Southeast Asia’s] mature countries.”

“That is our business principle;” Wan said, “to build a strong base in terms of resources, to secure gateway cities first, before branching out.”

And having established these solid foundations, Asia can expect to see more Park Regis and Leisure Inn hotels rise across the region in coming years.

Pic caption: Simon Wan, CEO of StayWell Hospitality Group

sourced:traveldailymedia.com