Centara plots expansion

BANGKOK 27th November 2017: Thailand-based Centara Hotels and Resorts released details of a business plan that calls for the group to double revenue through inventory expansion over five years.

Centara identified three expansion strategies, Monday, starting with the group adding hotels and resorts through a combination of investments and management agreements.

It aims to be more prominent in Southeast Asia, the Indian Ocean and Middle East, but will also expand its footprint in East Asia, Africa, and the Caribbean.

Mr. Thirayuth Chirativat and Mr. Markland Blaiklock

New brands, such as the economy COSI brand will help to fill gaps.

The second priority focuses on an expansion into the lucrative branded residences market through new-build developments or acquisitions.

The third priority identifies the need to strengthen core infrastructure, including operating platforms and technology to secure its position as best-in-class through loyalty programmes and awareness promotions using a variety of media channels.

The latest business strategy follows the recent strengthening of the management team by welcoming back seasoned industry professional, Markland Blaiklock, in a newly formed role of deputy CEO.

Centara already has 57 properties in operation or under development across 12 countries in Southeast Asia, the Indian Ocean, China, the Middle East and the Caribbean.

This year, Centara was active in Asia and the Middle East opening new hotels, signing management and joint venture agreements, and launching its new COSI lifestyle brand. It plans to continue growing, doubling revenue over the next five years.

Centara’s chief executive officer, Thirayuth Chirativat  commented: ”We are entering a significant phase of growth. Centara has always been at the forefront of the hospitality industry in Thailand and with our concerted focus on expansion in both new and existing markets, we will become an even more prominent regional player in the coming years.”