Bangkok - Sansiri has announced the opening of The Standard Hotel and Standard Residences in Thailand as part of its global expansion plan. The company also launched One Night, an app for same-day hotel bookings, marking its first foray into Asia in Bangkok. This initiative follows the announcement of its vision to enter the global hotel, technology, and lifestyle business through an investment of $80 million, or 2.64 billion baht, across various leading global brands. The expansion of The Standard and One Night into Asia is a result of rapid business growth following Sansiri's joint investment with Standard International late last year. Standard International aims to double its hotel locations from the current 5 to 10 within one year and further expand to 20 locations within 5 years. One Night is also entering the Asian market, which has high business growth potential, starting with its first service in Bangkok.

Mr. Apichart Chutrakul, Chairman of Sansiri Public Company Limited, stated, "In November 2017, we announced our investment plans in various global brands, all of which are leaders in the hotel, technology, and lifestyle sectors. This investment is part of our strategy to expand our knowledge base and create partnerships in diverse business areas beyond real estate development. It is gratifying that within just one year, this investment has propelled The Standard and the One Night app to grow rapidly. Today, both brands are ready to robustly expand into the Asian market, with Thailand as the first target."

The Standard, a brand recognized as a significant player in the boutique hotel industry, plans to double its hotel locations globally after Sansiri acquired a 35% stake in the parent company, valued at $58 million or over 1.9 billion baht. The Standard aims to expand into new markets by leveraging its talented team and expertise in creating programs and activities that reflect local cultures. The brand is also focused on selecting unique partners and creating one-of-a-kind events to connect communities and local societies worldwide. The Standard has earmarked 10 locations for global expansion, including 2 branches in Thailand, which will open in the near future as part of a 5-year business plan to reach a total of 20 locations in prime city centers and leading resort destinations worldwide, including London, which is set to open in Q1 2019, followed by Paris, Milan, Berlin, Lisbon, Prague, Madrid, Chicago, Las Vegas, New Orleans, Atlanta, Dubai, Singapore, China, Hong Kong, Taiwan, Bangkok, Phuket, Hua Hin, Jakarta, and Bali. All targeted cities are locations where The Standard has concrete plans for hotel development or is in advanced negotiation stages.

Amar Lalvani, CEO of Standard International, said, "Expanding The Standard brand into new areas worldwide, including Thailand, is a significant opportunity to deliver our unique hotel experience to many more people. We create spaces that harmonize with the unique culture of each location where our hotels are situated through thoughtful design and experiences that are unlike any other for both guests and local residents. The Standard also aims to establish itself as a hub of creativity and fun activities. A clear example is The Standard High Line, our flagship hotel in New York, which has transformed a former meatpacking district into one of the city's most desirable locations, attracting interesting venues and new businesses, including the Whitney Museum, Tesla, and Samsung. Since The Standard began operating in the area, property values have approximately doubled compared to properties just a few blocks away, and we believe this phenomenon will occur again when we open The Standard's first new hotel outside the United States in London, in the King's Cross area, and in many other new locations worldwide."

"For Thailand, we plan to open the first The Standard hotel in Phuket, which will also feature Standard Residences, developed in collaboration with Sansiri. Thailand is an attractive market due to its various tourist destinations and the increasing number of visitors each year, making it a suitable location for launching The Standard brand, known for its excellence in dining, fashion, and art. Considering all these factors, we decided to establish our regional office in Bangkok to oversee all business operations in Asia and the Middle East," he added.

Currently, with a total of 6 hotels and over 1,200 rooms (including the new hotel opening in London), The Standard generates approximately $200 million in annual revenue, or 6.6 billion baht, with an average occupancy rate of 85% and an average revenue per room growing by 121%. All locations have similar occupancy rates, and The Standard enjoys a high percentage of direct bookings and repeat customers, reflecting the brand's strength compared to its competitors.

Jimmy Suh, CEO and Co-Founder of One Night, said, "We are thrilled to launch the One Night app in Bangkok, marking our first expansion into Asia. Bangkok is a city that never sleeps, filled with energetic people who work and live life to the fullest, making it a fantastic opportunity for One Night, the same-day hotel booking app that offers a selection of independent hotels curated for a unique experience at the best prices."

"The One Night app was created to promote a lifestyle that maximizes value and travel experiences, aligning with the current economy where consumers seek on-demand services through their smartphones. Additionally, it encourages hotel stays to become a leisure activity for local residents, allowing them to escape their daily routines in line with the trending Staycation concept. The app also provides information about interesting activities around the hotel," he added.

One Night, launched in Bangkok, features a selection of the best independent hotels, including Akira Sukhumvit, Akira Thonglor, Bangkok Riverside, Paheua Guesthouse Yaowarat, Cabochon Hotel, The Okura Prestige Bangkok, Riva Arun, Riva Surya, Shanghai Mansion, The Siam, Siam@Siam, The Sukhothai Hotel, The Sukosol, 137 Pillars Suites & Residences, Amdaeng Hotel, Josh Hotel, and One Day Hostel. Sansiri customers can enjoy special booking privileges for hotels in Bangkok through the One Night app from today until November 30, 2018, with a discount of 1,000 baht for Sansiri Family customers and 1,500 baht for Siri Priority customers.

In addition to Bangkok, One Night is currently available in 15 major cities in the United States and London, covering over 170 independent hotels, with plans to expand to 30 cities worldwide, including in Asia and Europe, by the end of 2023. "Partnering with strong and distinctive brands will enhance Sansiri's core real estate business, allowing consumers to access services from true global leaders. The launch of The Standard and One Night in Thailand is another significant step for us, leading to many new opportunities in the future," Mr. Apichart concluded.

Thank you for the information from www.sansiri.com