Sansiri invests US$80 million in 6 international brands in synergy with its vision to globally invest in next generation living
08 Nov, 2017, 14:26 GMT
Standard International - One Night – Hostmaker - JustCo - Farmshelf - Monocle
BANGKOK, Nov. 8, 2017 /PRNewswire/ -- Sansiri Public Company Limited aims beyond real estate development by investing US$80 million (HKD 650 million/ SGD 110 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 Sansiri's core business. The investments are in line with Sansiri's vision to focus on next generation living and how we live, work, play and discover through technology and media.
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Sansiri's investments include shares in Standard International, the most powerful brand in the boutique hotel business that turns high-end hospitality upside down; One Night, a spontaneous booking app that is transforming the way people book same-day stays in handpicked hotels worldwide; Hostmaker, London's No1. Airbnb management company; JustCo, Southeast Asia's largest creative co-working spaces; Farmshelf, the smart indoor farms that help you to grow food easily;and Monocle, an influential media brand spanning print, online, radio, film, retail, and hospitality.
Mr. Srettha Thavisin, President of Sansiri Public Company Limited, announced, "Sansiri has high business growth ambitions and these strategic investments will develop Sansiri beyond its core business for the first time. We are expanding our global reach and capitalising on key opportunities to generate new revenue from the property-related industries and we will utilize the partnerships to strengthen our core real estate business."
Mr. Thavisin added, "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, including: strategic investment in global lifestyle brands; developing property technologies in partnership with industry disruptors; and enhancing influence and audience through premium lifestyle media."
Mr. Amar Lalvani, CEO and Managing Partner of Standard International, said, "The partnership with Sansiri will give us access to more opportunities to develop additional technology-driven innovation and hotel properties in Asia and throughout the world."
Sansiri's US$58 million (HKD 450 million/SGD 80 million) investment secures 35% shares in four business units under The Standard International: 1.) Hotel operations and management; 2.) Bunkhouse Group 3.) One Night application 4.) F&B business.
Mr. Jimmy Suh, President of One Night, said, "Sansiri's investment allows us to tap into the resources from their other investments, which will help us to continuously involve."
Mr. Nakul Sharma, Founder and CEO of Hostmaker, said, "The funding from Sansiri will lend our international expertise to help enhance Sansiri customer experience and to support the technology and innovation transformation of the Thai property market."
Mr. Kang Wan Sing, Founder and CEO of JustCo, said, "The partnership with Sansiri will help JustCo make direct inroads into Bangkok with a launch of 4 co-working spaces in Bangkok. We expect to have 20 co-working spaces across Asia-Pacific by 2018, giving Sansiri access to our 12,000 members."
Mr. Andrew Shearer, CEO of Farmshelf, said, "Farmshelf helps people grow food wherever they live, work and eat using progressive application and AI-based technology. Thanks to the funding from Sansiri, we are able to further develop our product and bring this new culture to Thailand."
Mr. Tyler Brûlé, Monocle, said, "We have had a long-standing relationship with Sansiri at Monocle and given our growth beyond media, it made sense to partner with a company that fit with our increasing focus on urbanism, retail and new service concepts."
For more information please visit www.sansiri.com.
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