Mövenpick signs up to run Crowne Plaza
KARON: Swiss-based Mövenpick Hotels and Resorts (MH&R) has signed a management agreement with Kingdom Hotel Investments (KHI) to run the Crowne Plaza Karon Beach resort, which KHI bought recently for 3.7 billion baht.
On June 28, the resort, which has 186 villas and 166 guest rooms, as well as 30 apartments for lease, will become the Mövenpick Resort & Spa Karon Beach Phuket.
Sarmad Zok, KHI’s CEO, said, “With Mövenpick Hotels & Resorts, we have the right management partner. This further demonstrates our ability to consolidate our position in attractive, emerging growth markets.”
Jean Gabriel Pérès, President & CEO of MH&R, said, “Thailand and Phuket are a perfect growth platform for our presence in Asia, based on our expertise in exquisite resort operations, and we are pleased about our return to the Asian region.
“We expect to be able to announce further projects soon, aimed at establishing our brand on a broader base in this promising region.”
Meanwhile, KHI has announced its preliminary results for the fiscal year ending December 31, 2005, indicating strong performance.
The numbers show gross profit of US$17.9 million (678 million baht), an increase of 41%, on revenue of US$58.8 million (2.23 billion baht), which was up 53% from 2004.
Earnings per share rose 133% to US$0.07 (2.65 baht) in 2005, while revenue per available room (RevPAR) was US$81 (3,068 baht) in 2005, an increase of 23%.
