Bangkok, 7 July 2017 – Bespoke Hospitality Management Asia (BHMAsia), an emerging Asia-based hotel management company, announced it had agreed its acquisition by The Flight Centre Travel Group (FLT). The acquisition will be FLT’s first investment in the accommodation sector and will strengthen its rapidly expanding in-destination travel experiences division, currently being the company’s third core business pillar, alongside its extensive leisure and corporate travel operations. FLT is one of the world’s largest travel agency groups; it has company-owned operations in 14 countries and a corporate travel management network that spans more than 75 countries. It employs more than 19,000 people globally and has a total of 3,000 stores, with annual group revenues in excess of USD$14bn.
Chief Executive Officer, Anthony McDonald, said the acquisition would help fast-track BHMAsia’s growth. “Strategically, this is a perfect fit – Flight Centre has customers that need hotels and BHMAsia has hotels that need customers. By leveraging FLT’s global distribution network, BHMAsia-managed hotels can deliver improved returns to their owners and an end-to-end experience for FLT customers”.
BHMAsia’s current management portfolio includes properties in Bangkok, Phuket, Koh Samui, Pattaya and Chiang Mai. Properties range from individual villas and apartments to hotels and resorts. The company is taking on larger properties, including the recently opened 266-room X2 Vibe Sukhumvit Hotel in Bangkok, and is poised to expand its footprint into Vietnam (Hoi An and Danang) in 2018.
BHMAsia’s brands include:
- X2 (Cross To): Luxury by design – five-star hotels and resorts
- X2 Vibe : Mid-scale lifestyle hotels and resorts; and
- Away Resorts and Villas: Casual resorts and retreats
Mr. McDonald founded BHMAsia in 2013 and will remain in the business as CEO, along with other key BHMAsia executives, as it continues its expansion throughout the Asia Pacific region.
Full details of the transaction and the strategic plans for the group will be released shortly, after the formal completion of the deal.