Flight Centre Travel Group (FLT) is making its first investment in the accommodation sector with the acquisition of Bangkok-based hotel management company, Bespoke Hospitality Management Asia (BHMAsia).
Terms of the acquisition have not been disclosed, but BHM said in a statement that “full details of the transaction and the strategic plans for the group will be released shortly, after the formal completion of the deal”.
The Austrailan based travel company said the purchase of BHMAsia “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.”
Anthony McDonald: Flight Centre and BHMAsia a “perfect fit” (Image credit: BHMAsia).
For BHMAsia, the deal will boost its expansion plans and help fast track its growth in the Asia Pacific region.
“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”,” said Anthony McDonald, chief executive officer of BHMAsia.
McDonald, who founded BHMAsia in 2013, will remain as CEO along with other key executives.
The hospitality company currently has 15 properties in the Asia Pacific region spanning the X2 (five star and resorts), X2 Vibe (mid-scale lifestyle and resorts) and Away Resorts and Villas brands. It is also taking on larger properties, including the recently opened 266-rooms X2 Vibe Sukhumvit Hotel in Bangkok, and is expanding into Vietnam with properties in Ho Chi Minh City, Hoi An and Danang.
• Featured image credit (Away Resorts): BHMAsia
