Sansiri Public Co. Ltd., Bangkok, announced Wednesday its plans to invest US$80 million in six leading global technology and lifestyle businesses, including a US$58 million investment to take a 35% stake in Standard International, operators of five lifestyle hotels under the Standard brand.
The investment and planned expansion in Standard comprises three business units: the Standard hotel brand and operations; Bunkhouse Group, a lifestyle hotel brand based in Austin, Texas; and One Night, a mobile booking application developed by Standard hotels. A sixth Standard hotel is currently under construction in London.
Sansiri President Srettha Thavisin told the Bangkok Post he will be Standard’s new chairman and three other Sansiri executives will be members of the board of directors. “We will launch The Standard Residences in Thailand with a hotel management contract and two franchises: The Standard and Bunkhouse. The first two locations will be in Bangkok and Phuket next year,” he said.
Sansiri’s announcement also included investments in Hostmaker, a home rental management service and an 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.
It also acquired a 6.09% stake in JustCo, 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 believes that big corporations will adapt the co-working model as they seek to energize their staff, to encourage the cross-pollination of ideas and development of new connections. Sansiri aims for rapid growth expansion in JustCo, which has secured a plan to launch four new JustCo offices in Bangkok in 2018, and will continue to expand the business across Asia.
The announcement also included an investment into Farmshelf, a creator of automated growing systems that enable anyone to grow food in their home or workplace. Sansiri invested in Farmshelf as it observed the rapid growth of the health and well-being sector, and because people are driven by a desire for high quality fresh food and collaborative living. Sansiri plans to grow Farmshelf into selective residential project with plans for more rapid expansion across Asia.
Lastly, Sansiri is taking a 5.9% stake in Monocle, a magazine that delivers a luxury experience through print, married with the use of audio, retail and hospitality. Sansiri also plans to launch a mixed-use residential concept with Monocle, in Bangkok, in 2018.
“Our next chapter centers on anticipating and meeting evolving consumer needs by creating a world-class modern living platform,” said Thavisin. “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.”
Since 1984, Sansiri has established its position across Thailand and is a full-service real estate developer 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.