Best Western hosted an event in Bangkok for international developers and investors to see and learn about the brand’s global development strategy for Vīb and BW Premier Collection and announced the first Vīb to be developed in Seoul, South Korea.
BANGKOK, Thailand (PRWEB) March 18, 2015
Best Western International recently launched two new global hotel products, Vīb (as in vibrant) an urban boutique hotel concept and the BW Premier Collection, a soft brand targeting upscale and luxury independent hotels. After unveiling the new offerings at the International Hotel Investment Forum (IHIF) in Berlin, the company today hosted an event in Bangkok for international developers and investors to see and learn about the brand’s global development strategy for these two new hotel products.
The Vīb concept re-imagines the Best Western hotel experience for today’s traveler who is seeking: innovation, technology and style with an authentic, local flavor offered at a great value. Style and Value is the vision of Vīb and something that Best Western can deliver like no other global hotel chain.
“We believe that the stylish design of Vīb combined with the concepts business model and low cost to build will be very appealing to developers and investors throughout Asia. In fact we are delighted to announce that we have signed a deal for the first Vīb to be developed in South Korea,” said Best Western International President & CEO David Kong.
The first Vīb signed to be developed is a 148room new construction project in Seoul, South Korea. “The Vīb project we are developing is in the heart of the central business district of Gangnam, Seoul and is expected to break ground in the next six months. We believe the central business districts high density and energy is the perfect fit for Vīb,” said Best Western South Korea President John Choi.
Best Western is also launching BW Premier Collection, its new soft brand. “The BW Premier Collection offers a compelling proposition to independent hoteliers who want to lessen their reliance on online travel agencies without a long-term commitment. We think the unique pay-for-performance fee structure of the BW Premier Collection will be very attractive to independent hoteliers,” noted Kong.
In addition to developing the Vīb and BW Premier Collection brands, the company is focused on continuing to enhance the quality of its hotels globally and maintaining a strong development pipeline for the BEST WESTERN®, BEST WESTERN PLUS® and BEST WESTERN PREMIER® brands. Currently Best Western’s international pipeline has 290 projects in development. Highlights include:
The pipeline in the Asia-Pacific region is comprised of 90 percent new construction projects with 35 percent either BEST WESTERN PLUS or BEST WESTERN PREMIER projects.
There are nearly 50 projects in India, China, and Indonesia; virtually all are new construction.
Countries forming the ASEAN Economic Community (AEC) have a combined 37 projects representing 6110 rooms in the pipeline.
Vīb development opportunities are currently being considered in Bangkok, Thailand, Sarawak and Shah Alam, Malaysia and Ortigas, Philippines.
Best Western continues to expand in emerging travel markets, with recent openings in Sri Lanka, Bhutan and Mandalay.
Best Western’s portfolio of six hotel products offers development opportunities spanning the midscale to upper upscale segments:
BEST WESTERN PREMIER: The Company’s upscale hotel offering earns an average daily rate (ADR) of $134*. Since 2011 the portfolio of BEST WESTERN PREMIER branded hotels has grown to almost 150 worldwide.
BW Premier Collection: Best Western’s new soft brand consists of independent upscale and luxury hotels in destination and major markets. The unique pay-for-performance fee structures means hoteliers only pay fees for business earned through Best Western channels.
BEST WESTERN PLUS: Since introducing the upper midscale PLUS descriptor in 2011, the global footprint of BEST WESTERN PLUS hotels has grown to more than 1,000. With an ADR of $105* BEST WESTERN PLUS provides an excellent return on investment (ROI).
BEST WESTERN PLUS EXECUTIVE RESIDENCY: This upper midscale extended stay hotel is designed to generate a superior ROI. In the steadily growing extended stay segment, the average occupancy rate is 75 percent and ADR is up seven percent.
Vīb: Best Western’s new chic, hip boutique concept is designed to combine value and style for today’s traveler and is unique to the midscale segment. Development strategy, for this boutique concept, is focused on major markets.
BEST WESTERN: With a global footprint of more than 2,700 hotels and an ADR of $90* BEST WESTERN outperforms the competition in the midscale segment in most countries.