Hop Inns to expand in Asia
Hop Inn, a budget hotel chain operating in Thailand, the Philippines, and Japan, is developing a new strategy to expand its reach in Asia.
The Thai budget hotel chain has over 70 properties with over 7,000 rooms across three countries. Developed and operated by Erawan Hop Inn Co Ltd, a subsidiary of The Erawan Group Public Company Limited, Hop Inn will speed up its expansion in Thailand, the Philippines, and Japan. It targets an average annual revenue growth rate (CAGR) of over 15% and aims to become the number one budget hotel network in the Asia-Pacific by 2030.
The group’s hotel Investment president Pichanun Boonpromgul, commented: “This year marks the 10th anniversary of Hop Inn…We have set an ambitious goal for 2030 to become the best-budget hotel network in the Asia-Pacific region.
“This year, Hop Inn Japan opened four locations in Tokyo and Kyoto, while the Philippines now operates 10 branches on three major islands. To enhance Hop Inn’s capabilities and prepare for a long-term investment plan, the Board of Directors of The Erawan Group PCL have set an action plan through to 2030. We have a strategic partner, Lapis Hospitality Pte Ltd, managed by Lombard Asia, which has invested 16.09% in Hop Inn, equivalent to THB700 million. We anticipate filing the company for listing on the Thai stock exchange in 2027, aiming for an initial public offering (IPO) to support our long-term expansion plan,” Pichanun explained.
Additionally, 95% of the brand’s hotels are newly built, ensuring uniformity in design and service standards. Annually, more than 2.5 million customers stay at Hop Inn properties.
About Hop Inn
Erawan Hop Inn Company Limited, a subsidiary of The Erawan Group Public Company Limited, currently operates budget hotels with 57 properties in Thailand, 10 in the Philippines, and four in Japan.
Source: https://www.ttrweekly.com/site/2024/10/hop-inns-to-expand-in-asia/
