Hotel & Tours Group

Thailand-based Centara Hotels and Resorts recently signed a deal to acquire Astudo Hotels and Resorts. The acquisition comes into effect on 1 April 2010. Financial terms have not been disclosed.

Astudo currently operates 7 resorts in Thailand with a further 5 hotels to open in Thailand and the Philippines. Astudo's two most active brands are X2 and Away resorts. The resorts will be rebranded as follows:

X2 Kui Buri, Centara Boutique Collection
X2 Samui, Centara Boutique Collection
Away Koh Kood, Centara Boutique Collection
Away Pranburi, Centara Boutique Collection
Away Chiang Mai, Centara Boutique Collection
The Bayburi Vacation Villas Hua Hin, Centara Boutique Collection
The Bayburi Vacation Villas Samui, Centara Boutique Collection
X2 Koh Kood, Centara Boutique Collection
X2 Rayong, Centara Boutique Collection
Centara Hotel Manila
The Bayburi Vacation Villas Phuket, Centara Boutique Collection
The Bayburi Vacation Villas Samui Hills, Centara Boutique Collection

Commenting on the takeover, Mr. Gerd Steeb, President of Centara Hotels & Resorts said, “We have been looking for an opportunity to expand our Boutique Collection brand and many of the Astudo properties fit perfectly here. In addition the majority of resorts are in locations where Centara operates larger 4 and 5-star properties so excellent synergies will deliver significant cost benefits to the combined operation.”

The year 2010 marks the 27th anniversary of Centara Hotels & Resorts. The company currently operates a chain of 24 hotels and resorts throughout Thailand, with the properties being either self-owned or managed under contract. A further 9 are at present under development. The group is also expanding overseas.

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