Thai hotelier Centara, Japan’s Taisei, Kanden to build $300m luxury hotel

Thailand’s Centara Hotels & Resorts and Japanese firms Taisei Corporation and Kanden Realty & Development signed a 9 billion baht ($293.64 million) agreement to build a luxury hotel in Osaka, Centara‘s chief executive said on Wednesday.

The 34-story Centara Grand Hotel Osaka, slated to open by 2023, will be the company’s first hotel in Japan and is part of its strategy of doubling the number of proprieties under management by 2022, Thirayuth Chirathivat said in a statement.

The deal is the latest in Thai hospitality firms investing in hotels abroad.

In September, Singha Estate Pcl opened a $300 million 11,000 square meter resort and entertainment venue in the Maldives. Last year, Minor International Pcl completed a 2.3 billion euro acquisition of Madrid-listed NH Hotel Group SA.

Centara, a unit of Central Plaza Hotel Pcl, currently has 76 properties including those in Thailand, the Maldives Indonesia and China.

Reuters 

Singapore Reporter/s

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.