GOLDEN Tulip Hotels have revealed plans for opening 40 new hotels across Asia in the next four years, with the initial investment for South East Asia expected to be around $800 million.
The first four sites will be concentrated in Thailand and a fifth in Phnom Penh, the capital of Cambodia to kick off the wave of openings.
The company is reviewing and negotiating the opening of properties in Singapore, Vietnam, Malaysia, Indonesia and additional sites along Cambodia’s southern coast.
Golden Tulip President and CEO Hans Kennedie said a similar expansion is to take place in China and India.
"Our strategy is to develop economy business hotels in capital cities in Southeast Asia and our four- and five-star brands, Royal Tulip and Golden Tulip Resorts, in resort areas."
Golden Tulip Hospitality Group currently has more than 911 hotels, 81.000 rooms in more than 50 countries. It franchises and manages hotels in Europe, the Middle East & Africa, the Asian Pacific Region and the Americas with head offices in Amersfoort, The Netherlands and Lausanne, Switzerland.