Japanese hotel group, Prince Hotels, a subsidiary of Seibu Holdings, has acquired StayWell Hospitality Group (SWHG) including all the business operations of StayWell Group, which operates 30 hotels primarily in Australia and India. Prince Hotels will establish the 100 per cent fully owned Australian subsidiary, StayWell Holdings and this new company will purchase all shares of SWHG’s 22 operating subsidiary companies within the next three months. The final acquisition will be completed by October 2017. The acquisition will further strengthen the globalization and growth of the Seibu Group's hotel and leisure businesses, allowing Seibu Group to expand the profit earning opportunities of its international hotel business and carry out faster development of hotels in Southeast Asia, Asia and Oceania, the Middle East, and Europe. Seibu Group plans to deploy 100 hotels in 10 years. Prince Hotels will continue collaborations with StayWell’s existing strategic partners such as the Manhatton Hotel Group in China, Cristal Group in the Middle East, and FiveWays Hospitality in the United Kingdom, and this deal will enable further expansion and development of StayWell’s businesses.
HVS APAC HOSPITALITY NEWSLETTER.