RED PLANET HOTELS GROWS ROOM INVENTORY BY 200% IN 12 MONTHS
RED PLANET HOTELS GROWS ROOM INVENTORY BY 200% IN 12 MONTHS
For Immediate Release October 13, 2011
BANGKOK, THAILAND - Red Planet Hotels has delivered on its key promise of sustainable and planned expansion to announce it now has over 3,000 rooms under construction for the pioneering value Tune Hotels brand, contained in a portfolio of 19 hotels spanning three countries – Thailand, the Philippines and Indonesia.
The milestone of 3,000 rooms under development comes exactly 12 months after the investment company passed the 1,000-room mark, posting growth of 200% over the last year.
This sustained strategic growth sees Red Planet Hotels with projects worth USD120 million now underway before it hopes to raise another USD100 million in equity by the first quarter of 2012.
Red Planet will have six Tune Hotels open by March next year, and will have 15 properties operational by December 2012. Chief Executive Officer, Tim Hansing, said the company will use revenue from the soon-to-be operating hotels (see table below) to invest and increase its room inventory further – aimed to increase by a minimum of 2,000 rooms per year over the next five years.
“We have delivered on our aggressive growth targets and our track record now speaks for itself,” he said. “Taking Red Planet Hotels from 1,000 rooms 12 months ago to 3,000 today is a remarkable achievement and is testament to the quality of our people and our ability to hit planned and strategic expansion projections.
“The team has built a highly effective platform to enable our investors to benefit from the surge in hotel demand across the region and, in particular, from the leisure consumer and business market segments seeking unrivalled value that Tune Hotels deliver.”
Red Planet Hotels has a franchise agreement with Tune Hotels and will operate their portfolio under the Tune brand. Tune Hotels is the accommodation associate of Asia’s largest low cost carrier - Air Asia - and its growing global portfolio that will revolutionise the way “limited service” hotels are managed and the experience they provide.
“This year has been a year of acquiring and building, we will continue with this pace of growth for the
foreseeable future. In December we will open
our first Tune Hotel in Thailand, after which we will open an average of one hotel every month,” Mr Hansing said.
“Once this opening schedule is underway we will look to raise additional funds to allow our pace of strategic growth to increase so we can open a hotel every two weeks.”
Red Planet Hotels currently has assets in Thailand, Philippines and Indonesia and will soon have sites for development in China. The China hotels will also come under the Tune brand.
Tune Hotels is a value hotel brand that provides high quality accommodation with the basic essentials such as central and convenient locations, a clean environment, 24-hour security, highly comfortable beds and power showers. Using a demand-based pricing booking system, guests can book rooms at prices starting from USD3.
Red Planet Hotels Opening Schedule
Country City Opening Date
Thailand Hat Yai December 2011
Philippines Angeles City February 2012
Thailand Pattaya February 2012
Philippines Cebu February 2012
Philippines Ermita, Manila March 2012
Indonesia Pasar Baru, Jakarta March 2012
Philippines Makati, Manila April 2012
Indonesia Pekanbaru May 2012
Indonesia Makassar June 2012
Thailand Asoke, Bangkok July 2012
Indonesia Surabaya September 2012
Thailand Patong, Phuket October 2012
Philippines Cagayan De Oro October 2012
Indonesia Palembang November 2012
Philippines Ortigas, Manila December 2012
Philippines Davao February 2013
Indonesia Bekasi, Jakarta March 2013
About Red Planet Hotels
Red Planet Hotels Limited (RPHL) was formed in 2010 and is a privately owned regional hotel investment company focused on Asia’s emerging markets by developing a portfolio of budget hotels in China, Indonesia, the Philippines, Thailand and Bangladesh.
RPHL owns the hotels it operates and they are all managed under a franchise agreement with Tune Hotels, one of the hospitality arms of the rapidly growing Air Asia brand.
RPHL was formed with a vision to capture the growth in the worldwide limited-service hotel market, supported by the growth in budget airlines and the robust economy of the ASEAN region and China.
Its head office is in Bangkok and now has 3,000 Tune Hotel rooms under development. The first RPHL-owned hotel will open in Thailand this December and then at least one property will open each month for the foreseeable future.
About Tune Hotels
Tune Hotels is part of the lifestyle business conglomerate Tune Group that was founded by Tan Sri Tony Fernandes and Dato’ Kamarudin Meranun. Tune Group seeks to innovate and revolutionise the way services are made available and has employed efficient web-based technologies to reach and engage its customers, presenting a unique lifestyle offering ranging from value hotel stays, personal finance solutions and affordable prepaid mobile services. Tune Group of Companies are Tune Air, Tune Hotels, Tune Money, Tune Talk, Tune Box, Tune Studios, Tune Tones, Team Lotus, ASEAN Basketball League, Queens Park Rangers Football Club and Kuala Lumpur Education City (owner of Epsom College in Malaysia).
Since Tune Hotels was first launched in Kuala Lumpur, Malaysia, in 2007, over two million guests have stayed in its properties spread across Malaysia, Indonesia and the United Kingdom. It now has 13 hotels located in Kuala Lumpur, Kota Kinabalu, Kuching, KLIA-LCCT Airport, Penang, Johor Bahru, Kota Damansara, Bintulu, Kota Bharu and Kulim in Malaysia; Kuta and Legian in Bali, Indonesia; and London in the United Kingdom.
All Tune Hotels feature space-efficient, streamlined rooms focusing on high-quality basics: five-star bed, powerful hot showers and energy-saving fans. The strategically located hotels provide housekeeping services, electronic keycard access into rooms, CCTV surveillance, and prohibits access into the main lobby without a keycard past midnight. Through Tune Hotels’ “Less Waste, More Earth” pay-as-you-use system of add-ons wi-fi, television, laundered towels and other energy-consuming facilities and amenities, Tune Hotels aims to help guests conserve both their funds as well as the earth’s resources.
Tune Hotels is a part of Tune Group, the principal partner of the Premier League’s Professional Games Match Officials and the Team Lotus Formula 1 Team.