BANGKOK, 19 September 2023: S Resorts and Resorts PCL (SET: SHR), the hospitality arm of Singha Property PCL (SET: S), has introduced important renovations at a number of lodges in key cities, together with Mercure Manchester Piccadilly Lodge, Mount Royal Lodge Edinburgh, and The Grand Lodge Leicester, plus in depth upgrades at one other eight lodges.
The UK is S Resorts & Resorts’ largest market, accounting for 65% of the rooms in its world portfolio. The corporate has 27 lodges comprising 2,940 keys nationwide, working beneath manufacturers together with Mercure and Vacation Inn.
S Resorts & Resorts is maximising its UK property by divesting underperforming properties and reinvesting funds – supplemented by a further funding of round UKP16 million (approx. USD20.1m) – to renovate property with excessive potential. That is anticipated to lead to an occupancy price of greater than 75% and a 10-15% ADR improve for these properties.
In 2021, S Resorts & Resorts bought a further 50% stakes in 26 of its UK lodges, and the corporate not too long ago accomplished the pinnacle lease acquisition of the 76-key Mercure Perth Lodge in Scotland as a part of its effectivity enchancment technique within the UK. It has additionally disposed of three properties: Mercure Newbury Elcot Park Lodge, Mercure Burton upon Trent Newton Park Lodge, and Mercure London Watford Lodge.
The group at present has 38 lodges and resorts comprising 4,552 keys in 5 nations: the UK, Thailand, Maldives, Mauritius and Fiji.