Marco Polo Hotels to expand portfolio; launch new brand
Friday, 6 December 2013 00:01
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Marco Polo Hotels has unveiled plans to almost double its hotel portfolio in the next five years.
With three new hotels launching in 2014, the group has said it will open a further six properties in the region, predominantly in China within the next five years. This includes mid-tier to deluxe China projects in Changzhou, Chengdu, Guiyang, Wuxi, Chongqing, Tianjin, Changsha and Suzhou, as well as further development in the Philippines; thereby substantially expanding a Marco Polo network in the Asia Pacific region.
With a current portfolio of 13 owned or managed hotels across Asia Pacific and a parent company whose history spans over 125 years in the region, the group’s Asian heritage is the driving force behind its expansion strategy.
The group’s long term strategy is a continued growth path within the APAC region, focusing on China’s key gateway and secondary cities; emerging cities with high growth potential.
Marco Polo Hotels President Eric Waldburger said: “Marco Polo Hotels has a longstanding reputation for sustainable growth within Asia Pacific’s prime real estate locations, so the development of such a large-scale expansion strategy was always going to be well-considered and carefully formulated. Following five years of planning, we are now beginning to see the fruits of our labour and are confident of the continued success of the group both here in Hong Kong and on the Mainland.”
In the first half of 2013, the total revenue of the group increased by 6% to HK$ 689 million. Consolidated occupancy of the three Marco Polo hotels in Hong Kong reached 81%, with an increase of 6% in average room rate.
The group has also confirmed it will launch a totally new brand within the Marco Polo Hotels portfolio in 2014, but has not, as yet, unveiled any details.
“The impending launch of a new brand within the group’s portfolio is an exciting new venture and a very different offering to our current brand. We are optimistic that its unveiling next year will further cement our reputation as one of the leading hotel groups in Asia and introduce our hotels to a whole new generation of travellers,” said Waldburger.
