Cross Hotels & Resorts, Flight Centre’s hotel management business, has been named in the top-three fastest growing hotel management companies in Asia.
Formerly BHMA Hotels & Resorts, the rebranded Cross Hotels & Resorts was recognised by HVS International in its 2019 Asia Pacific Hotel Guide as one of the fastest growing hotel management companies in the region.
This comes off the back of an already encouraging growth period that saw the company open eight new hotels across three brands in 2019 and a consolidated hotel revenue increase of 80 per cent in the past 18 months.
Managing director of Cross Hotels & Resorts, Kent Davidson, said he expected this growth to continue into the next financial year.
“With future agreements already signed in target destinations, and a strong demand for the operating and distribution value proposition offered, we envisage to maintain this growth trajectory into 2020 and beyond,” he said.
CEO Peter Lucas said the company was building off a very strong base, having increased its operating portfolio of hotels by 39 per cent and entering three critical target destinations – Phuket, Vietnam and Bali – over the past 12 months.
“The future looks very exciting as we continue our growth objectives expanding our footprint in key capital gateway cities and thriving visitor destinations globally,’’ he said.
“We have a strong pipeline of future acquisitions in place including four key resort destinations in Vietnam which we will sign in 2019.”
Cross Hotels & Resorts currently operates 25 hotels across three distinct brands – X2, X2 Vibe and Away – in Thailand, Vietnam and Indonesia.
Lucas said Cross Hotels and Resorts had been well-received by a diverse base of international guests, with five South East Asian hotels rated number one on TripAdvisor in what is considered as some of the most competitive destinations in the world.
Cross Hotels & Resorts has also made a number of managerial appointments over the past six months, including the appointment of Paul Wilson as executive vice president of commercial and Jens O. Reichert as chief development officer.