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Star Asia Group Buys Japanese Hotel Operator Minacia

Alan Woinski

May 14th, 2024

Skift Take

After the acquisition of Minacia, Star Asia will have an additional 5,100+ rooms from 39 limited service hotels under its management.

Thailand’s Ministry of Finance has requested an additional two weeks to complete a feasibility study into the legalization of casino gaming. The Bangkok Post said Deputy Finance Minister Julapun Amornvivat did confirm that the gaming areas in the legal integrated will not be permitted to exceed 5% of the total project area, with the remainder to be utilized for complementary hotel and entertainment offerings. They will be convening with 16 other government agencies to discuss details of the casino resort topic. This includes legislation on regulation of casino resort complexes, locations, the pros and cons of the casino resort projects, and the establishment of a fund to mitigate any negative impacts from such gaming resorts. What have they been doing the past 30 days?

Hilton announced the signing of an agreement with SC Asset Corporation PCL to introduce KROMO, Curio Collection by Hilton, marking the lifestyle brand’s debut in Thailand and the brand’s growing presence in South East Asia. Scheduled to open at the end of 2024, the new build hotel will join Hilton’s portfolio of hotels in Thailand where they currently operate 13 properties across five brands, with nine more in the pipeline. KROMO, Curio Collection by Hilton, is located along Sukhumvit’s vibrant shopping belt, close to retail destinations including Emporium, EmQuartier, and the EmSphere. KROMO will feature 306 rooms and suites, each fitted with a three-fixture bathroom. Rooms start from 32 square meters. The hotel will offer three dining concepts including an all-day dining restaurant, a creative social dining space, and a bar. Other amenities will include a fitness center and indoor and outdoor pools.

Hilton also announced the signing of Hilton Garden Inn Townsville, adding to their portfolio of 91 hotels operating across Asia PacificHilton will manage the 190-room hotel located in the city of Townsville in northern Queensland, Australia under a management agreement with HHNQ Pty Ltd. Completion of the hotel is expected in early 2026. The Hilton Garden Inn will be centrally located, alongside the new 25,000-seat Queensland Country Bank stadium. Amenities will include a restaurant and bar, meeting rooms, a fully equipped gym, and a swimming pool. The hotel will be modular constructed. For the Hilton Garden Inn brand, they have three operational hotels throughout Australasia with an additional six in the pipeline.

Plans for a new hotel on Hobart’s Macquarie Street have undergone a last-minute change as the project nears completion. The 9-story, 206-room development by Fragrance Group of Singapore will now operate under the DoubleTree by Hilton brand, rather than the previously announced Novotel brand. The $65 million hotel will feature a function center, restaurant, pool, and basement parking. Fragrance confirmed the changes, saying the previously confirmed operator had changed. Construction remains on track for completion later this year.

Star Asia Group announced it entered into a share transfer agreement with Minacia Co. Ltd. on April 26, 2024, to acquire 100% of the shares of Minacia, a leading hotel operator in Japan. Minacia operates 39 limited service hotels totaling 5,180 rooms in major Japanese cities nationwide. Star Asia Group actively invests in the hotel sector and has been a hotel and restaurant management company operating limited service hotels throughout Japan under brands such as Wing International and Tenza Hotel. In 2018 they purchased a majority stake in Polaris Holdings, a hotel operated listed on the Tokyo Stock Exchange. Star Asia has been Polaris’s main sponsor.

Lemon Tree Hotels announced its latest signing, Keys Select by Lemon Tree Hotels, Bareilly. The property will be franchised by Lemon Tree Hotels Limited and is expected to open in FY25. Bareilly is the seventh-largest metropolis of Uttar Pradesh and is the 50th largest city in India. The 60-room Keys Select by Lemon Tree Hotels, Bareilly will include a restaurant, bar, banquet facilities, meeting rooms, a swimming pool, fitness center, and other public areas.

Following the signing of a management agreement with Hindva Hospitality LLP in March 2024, Royal Orchid Hotels Ltd announced the launch of ‘The World’, the largest all-suite 5-star hotel in Gujarat and the debut hotel by ROHL in Surat. The hotel has 288 suites and includes large banqueting rooms, sprawling lawns, meeting facilities, and a signature Spa with extensive wellness and yoga experiences on the one side, clubbed together with an in-house Co-Working space and a Gaming Zone on the other. Royal Orchid said this is their very first hotel in Surat in partnership with Hindva. The hotel unveiled ‘FAM’, an all-day modern eatery at the launch. The World will also present a unique ‘Surati’ concept eatery.

Personnel Moves

Venkata Narayana K has resigned as CEO of Prestige Estate Projects after serving in that role for over six and a half years. The company said he quit to pursue personal interests. He had been CFO and company secretary of the firm as well when he assumed the role of CEO of Prestige Estates in August 2017. Sources told the media that he plans to float a fund to buy land parcels for real estate projects. Prestige recently announced plans for six hotels with Marriott International and was considering listing their hospitality arm. Prestige said they had outlined its roadmap by appointing various business heads for each vertical and geography.

Cygnett Hotels & Resorts announced the appointment of Deba Prasad as the new Director of Operations. Prasad has a 27-year track record in hospitality management with previous positions with OberoiTajJaypeeStarwoodLalitBest WesternSterlingWyndham, and MGM.

Citrus Leisure PLC announced the appointment of Suresh de Mel as Chairman of the Board of Director. De Mel will serve as Chairman of the Citrus Leisure Group of Companies which will include Waskaduwa Beach Resorts PLC and Hikkaduwa Beach Resorts PLC. The appointment comes following the sudden demise of the Group Chairman, Prema Cooray. Citrus also welcomed the appointment of Lalith Withana as Independent Non-Executive Director. De Mel has been an Independent Non-Executive Director of Citrus since 2011. He is the co-founder and Managing Director of Lanka Fishing Flies Ltd. Withana is founder and Managing Director of Agility Consulting Services Ltd.

Minor Hotels announced the appointment of Lokesh Kumar as Vice President of Development for the Middle East. Lokesh joins Minor Hotels from a most recent management consulting role, helping develop tourism offerings along the 1,600 km Coral Highway from Jezan to NEOM. Lokesh also provided advisory services for operator selection and joint venture evaluation for sovereign fund entity in KSA that aimed to develop 4,000 hotel rooms in key cities.

Alan Woinski

May 14th, 2024

Companies: Star Asia Group, Citrus Leisure, Curio Collection by Hilton, Cygnett Hotels & Resorts, DoubleTree by Hilton, Hilton Garden Inn, Hilton Hotels & Resorts, Lemon Tree Hotels, Marriott International, Minacia, Minor Hotels, Prestige Estate Projects, Royal Orchid Hotels Limited, SC Asset Corporation

Locations: Australia, Gujarat, Japan, Queensland, Singapore, Thailand, Uttar Pradesh

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