Acquisitions & Hotel Openings

Centara Takes Over Management of Astudo Hotels

March 5, 2010 - Centara Hotels and Resorts has acquired the management of Astudo Hotels and Resorts, effective April 1.

Currently operating seven resorts in Thailand with a further five hotels to open in Thailand and the Philippines, the portfolio of Astudo is a valuable addition to the Centara network, the company says.

“We have been looking for an opportunity to expand our Boutique Collection brand, and many of the Astudo properties fit perfectly here,” says Centara President Gerd Steeb. “In addition, the majority of resorts are in locations where Centara operates larger 4- and 5-star properties, so excellent synergies will deliver significant cost benefits to the combined operation.”

Suthikiati Chirathivat, chairman of the executive board of Central Plaza Hotels (Public) Co. Ltd. says: “I am particularly delighted to see this deal happen. Astudo Hotels and Resorts is a unique collection of properties, and provides us with a tremendous boost to our product offering here in Thailand.”

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