International Investments in U.S. Hotels is a Continuing Trend
Sansiri Public Company Ltd. is investing $58 million in Standard International and One Night, giving the company a 35 percent stake
The trend of international companies making significant investments in hotels in the United States has continued with Standard International, the parent company behind Standard Hotels and Bunkhouse Group plus also the last-minute booking app One Night, getting a major new investment from Sansiri Public Company Ltd., a real estate developer that is headquartered in Bangkok.
Sansiri Public Company Ltd. is investing $58 million in Standard International and One Night, which is slated to give the company a 35 percent stake, constituting a part of an overall $80 million investment in several lifestyle and technology companies, according to a recent announcement from Sansiri.
The remaining $22 million not encompassed by the investment in Standard International and One Night will end up being spread across four other businesses. While Sansiri did not reveal the exact way that the money distribution would break down, the companies involved were identified as home rental management service Hostmaker, the Southeast Asia-based company for co working JustCo, the smart tech indoor farm maker Farmshelf, and Tyler Brule's Monocle media company, which is widely identified as being influential.
Experts say that these purchases, especially the acquisition of Monocle, would seem to indicate a desire on Sansiri's part to launch a co branded mixed use residential concept in its home city of Bangkok some time in the next year or so.
For those who are unaware of Sansiri, it is a 33 year old company that has long labeled itself as the country of Thailand's only full service real estate developer, with a total of more than $1.2 billion in annual sales to its name. The company is one that also has a major and significant prescence in countries such as China, Singapore, Taiwan and Japan, expecting to do more than $360 million of sales volume in 2017 within those markets.
"This involves taking Sansiri to the next level as a global brand, ensuring we are at the forefront of tech and innovation, transforming ourselves for the future, and creating a synergistic environment for our business to grow," said Srettha Thavisin, Sansiri's president, in a statement. "We will focus on three key activities: strategic investment in global lifestyle brands; developing property technologies in partnership with industry disruptors; and enhancing influence and audience through premium lifestyle media."
Chinese investment in U.S. hotels has also accelerated in recent years, with the most significant deal ranking as an October 2016 investment by Chinese shipping and aviation giant HNA group that involved $6.5 billion for a 25 percent stake in Hilton Worldwide Holdings from Hilton's biggest shareholder, Blackstone Group LP.
Related projects
Let's take a look at a few other projects currently under construction in the United States of America:
InterContinental Lane Field South
This Hotel will be part of phase II of the Waterfront development in San Diego (Lane Field South). [READ MORE]
8950 Sunset Blvd. will tout a "jewelry box" design, with the hotel's dynamic technical capabilities serving as the crown jewel. [READ MORE]
Rosewood Miramar Beach Montecito
Spread over nearly 16 acres of prime beachfront real estate, Rosewood Miramar Beach Montecito will offer 122 guestrooms and 48 suites. [READ MORE]
More information on USA's hotel projects can be found on TOPHOTELPROJECTS, the specialized service provider in hotel construction information in the international hospitality industry.
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