RED Planet Hotels has reported over 3,000 rooms under development for the Tune Hotels brand in a portfolio of 19 properties spanning three countries – Thailand, the Philippines and Indonesia.
The announcement comes exactly 12 months after the hotel management company passed the 1,000-room mark, posting growth of 200 per cent over the past year.
Red Planet, which has a franchise agreement with Tune Hotels, and operates its portfolio under the Tune brand, will have six Tune Hotels open by March next year, and 15 properties operational by December 2012.
Red Planet CEO Tim Hansing said: “This year has been a year of acquiring and building. We will continue with this pace of growth for the foreseeable future. In December we will open our first Tune Hotel in Thailand, after which we will open an average of one hotel every month.”
Hansing said the company would use revenue from the soon-to-be operating hotels to invest and increase its room inventory further – targeted to increase by a minimum of 2,000 rooms per year over the next five years.
“Once this opening schedule is underway we will look to raise additional funds to allow our pace of strategic growth to increase so we can open a hotel every two weeks,” Hansing said.
Red Planet will soon have sites for hotel development in China, which will also be operated under the Tune brand.