S Hotels & Resorts announces 50 New Global Properties for 2024 Following Crossroads Maldives success of 2023

“In the Wake of Covid’s Impact, Global Travel Rebounds: S Hotels & Resorts Announces Aggressive Growth Post-Exceptional 2023, Targeting $337M Revenue and 50 New Sustainable Hotels”




S Hotels & Resorts PCL, under Singha Estate PCL, ambitiously aims to escalate its global presence, targeting a revenue increase to THB 12 billion (around USD 337 million) by 2024 and expanding its portfolio with 50 new hotels and resorts within five years. This strategic growth plan encompasses operational optimisations, key property renovations, elevating the SAii brand, and exploring mergers & acquisitions (M&A), all while prioritising sustainability.


Strategic Expansion and Brand Amplification

The year 2023 stood out for S Hotels & Resorts with the debut of SO/ Maldives, marking the culmination of its CROSSROADS Maldives project. Discover more about luxury destinations like The Maldives. The focus now shifts to renovating SAii Laguna Phuket and SAii Phi Phi Island Village, while also seeking to reposition and rebrand properties in strategic UK cities including Manchester, Edinburgh, Leicester, and Glasgow. With THB 15 billion allocated for mergers and acquisitions, S Hotels & Resorts aims to broaden its footprint in sought-after leisure destinations across Europe, Asia Pacific, Fiji, and the Indian Ocean.


Central to S Hotels & Resorts’ expansion is a steadfast dedication to environmental stewardship. By 2024, the company is set on reducing its carbon emissions by 5% yearly, with plans to install solar panels at its properties in Thailand and The Maldives. A pivotal Memorandum of Understanding (MoU) with the Maldives government has seamlessly woven CROSSROADS Maldives into an innovative Other Effective Area-Based Conservation Measures (OECMs) initiative, safeguarding an extensive marine territory and establishing it as the most significant protected marine area in the Indian Ocean. The company’s Marine Discovery Centres, with a goal to welcome 50,000 visitors annually, are dedicated to providing enlightening activities and spearheading conservation efforts. Additionally, the commitment to sustainability extends to its dining experiences, with a focus on incorporating locally sourced ingredients in its restaurants.


Envisioning Tomorrow: Pioneering Sustainability

CEO Michael Marshall underscores the company’s commitment to achieving carbon neutrality and expanding vital biodiversity regions by 30% by the year 2030, reflecting Singha Estate’s comprehensive sustainability objectives. As the worldwide tourism sector makes a comeback, S Hotels & Resorts, with its distinctive services and strategically located properties, is well-equipped to address the changing needs of modern travelers, capitalizing on current and future market opportunities. This deliberate growth strategy, combined with a dedication to environmental stewardship, enables S Hotels & Resorts to not just reach its economic targets but also make a significant positive impact on the environment and communities around the globe.


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