NIGHTLIFE entrepreneur Michael Ma, who runs the IndoChine group in Singapore and elsewhere, is going into hotel management with the setting up of a joint venture to be known as the LaTour IndoChine Hotel Group. It will be headquartered in Singapore. The hotel management company is designed to provide wide-ranging expertise to developers entering the realm of boutique hotels, six-star hotels as well as...
Hotels
KOP Capital is moving from residential and commercial property development into hotel business for the first time. The Singapore-based developer has recently acquired a 50 per cent stake in a small luxury hotel operator, Stein Group, which is based in Spain. The investment is valued at US$250 million. Last year, KOP Capital launched Asia's first high-end residential project that features a car park right...
Luxury resorts and spa operator Banyan Tree is reaping more rewards from its overseas expansion. Banyan Tree Bintan (file picture) Its net profit for the full year jumped 142 percent to $102 million. This was achieved on the back of a 26 percent rise in revenue to $422 million. The bottomline was driven by Banyan Tree's hotel operations and property sales segments, coupled with a one-off negative...