BANGKOK--(BUSINESS WIRE)--Sansiri Public Company Limited aims beyond real estate development by investing US$80 million in six leading global technology and lifestyle businesses in a bold move to expand its holdings and create a collaborative, multi-disciplinary portfolio. All six investments are in high-growth sectors in global markets which offer new sources of revenue beyond Thailand. They represent new, asset-light business models from the synergy opportunities and rapid-growth opportunities in this digital disruptive era. The potential increase in each company's valuation, as a result of Sansiri’s share in ownership, positively benefits the core Sansiri business.
Since 1984, Sansiri has established its position as a business leader across Thailand and is the only full-service real estate developer in the country with more than US$1.2 billion sales volume annually. The company also has a dominant presence in China, Hong Kong, Singapore, Taiwan and Japan, with a target of US$360 million sales volume in 2017.
Mr. Srettha Thavisin, President of Sansiri Public Company Limited, today announced, “Our next chapter centres on anticipating and meeting evolving consumer needs by creating a world-class modern living platform. This involves taking Sansiri to the next level as a global brand, ensuring we are at the forefront of tech and innovation, transforming ourselves for the future, and creating a synergistic environment for our business to grow. We will focus on three key activities: strategic investment in global lifestyle brands; developing property technologies in partnership with industry disruptors; and enhancing influence and audience through premium lifestyle media.”
The Standard is considered the most powerful brand in the boutique hotel business and includes five properties in New York, Los Angeles and Miami Beach, with a new property in London opening in 2018. Sansiri’s US$58 million investment secures 35% stake in Standard International which is comprised of three business unites: 1) The Standard hotel brand and operations; 2) Bunkhouse Group; 3) One Night mobile booking application.
The investment will fuel the investment of new hotels, food and beverage outlets, and the innovative One Night app for enhanced capacity utilization through last-minute hotel bookings in a carefully curated list of lifestyle hotels around the world.
One Night is an app developed by Standard International, the parent company of The Standard hotels, and is the first third-party distribution platform for hotels designed by a hotel company. One Night is a mobile-only platform that capitalizes on the rapid growth of mobile bookings, guests’ desire for experience-driven offerings and the dynamic lifestyles of the next generation of customers.
Sansiri will help One Night to develop to its full potential and to grow internationally, especially in Asia.
Hostmaker is an award-winning home rental management service and a No.1 Airbnb listed company. Sansiri has identified that home-sharing is growing rapidly in popularity and scale, and property management services are emerging to keep pace. With operations in London, Rome, Paris and Barcelona, Hostmaker has hosted more than 150,000 guests to date.
Hostmaker will expand its business to Asia with the support of Sansiri. This will help Sansiri to secure revenue beyond Thailand.
JustCo is Southeast Asia's largest provider of co-working spaces, currently with 11 locations, and with 20 new offices planned for 2018 in Southeast Asia. Sansiri’s future vision is that big corporations will adapt the co-working model as they seek to energise their staff, to encourage the cross-pollination of ideas and development of new connections. Sansiri aims for rapid growth expansion in JustCo.
Sansiri and JustCo have secured a plan to launch 4 new JustCo offices in Bangkok in 2018, and will continue to expand the business across Asia.
Farmshelf is a creator of innovative automated growing systems that enable anyone to grow food with ease in their home or workplace. Sansiri invested in Farmshelf as they have observed the rapid growth of the health and wellbeing sector and people are driven by a desire for high quality fresh food and collaborative living.
Farmshelf presents huge opportunities to integrate its products into Sansiri's selective residential projects, creating enormous added-value for their consumers. This groundbreaking partnership promises a remarkable opportunity to rapidly scale up the business across Asia.
During the decade since the launch of Monocle, the media industry has seen numerous upheavals but the magazine has found success by delivering a luxury experience through print, married with a pioneering use of audio, retail and hospitality. Monocle’s understanding of the value of quality journalism – and brand – has become a benchmark in the magazine industry.
Monocle is uniquely positioned to support Sansiri and its partners shape and interpret consumer behaviours; to engage with its informed international following and leverage its global reach. Sansiri also sees significant potential in developing co-branded businesses in entirely new sectors. Sansiri plans to launch a mixed-use residential concept with Monocle, in Bangkok, in 2018.