Post Reply
1-3 of 3
| Furama | ___3 mths ended Sep 2009___ | Net Loss (S$M)___ | -$14.23 |
Hotel operator
'This is an opportune time for the group toventure and expand its hotel operations into Thailand, having regard to Thailand's increasing political stability following the election of the new government,' Furama said in the statement.
Furama has bought the Unico Grande Sathorn boutique hotel, Unico Grande Sukhumvit boutique hotel and Unico Grande Asoke boutique business hotel. The 3 hotels have about 100 rooms each. Their purchase will be financed from internal finances and through bank borrowing. Furama has a market value of $332 million.
Furama said it has bought 3 boutique hotels in Bangkok for $32.3 million, citing opportunities in the strong Thai tourism sector. Furama acquired the hotels from Thai real estate firm Unico Holdings through 3 separate joint ventures, according to a company announcement.
Anyone to share some comment on this counter. Has been going up slowly to 1.83 today. Bought @1.41 in "97