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NEWS UPDATES 18 December 2009

AirAsia’s hotel affiliate in franchise tie-up with Thai firm

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Malaysia’s AirAsia Bhd affiliate Tune has entered into a strategic partnership with Thailand-listed Evolution Capital pcl to franchise the roll-out of 44 hotels in Thailand, China, Bangladesh, the Philippines and Indonesia, the StarBiz daily reported.

In a statement yesterday, Tune said the first 24 hotels were targeted to be in development by early next year and operational by 2012, with staggered roll-out of the subsequent 20 hotels to be completed by 2013.

“This expansion affirms our confidence in Thailand’s tourism and strong commitment to the Thai market. “Thailand has become the leading tourism destination for those seeking to stretch their hard-earned income.

“It’s a natural fit for Tune to expand its limited service brand of hotels here,” group chief executive officer Mark Lankester said.

He said the partnership with Evolution Capital formed part of Tune’s aggressive regional expansion plan. “In total, we will have about 100 hotels in key cities across Asia by 2013, including seven existing Tune hotels in Malaysia and Bali, as well as our own significant hotel development plans over that period,” he added.

Evolution Capital president and managing director Simon Gerovich said there remained a huge demand for safe and clean low-cost accommodation in Asia’s most popular destinations.

“The Tune limited service model has proven itself to cater very well to this demand.

“We are very excited to partner with in spreading this fresh concept throughout a growing number of destinations in Asia,” he said.


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