STRAITS Trading Company yesterday announced a new hospitality arm – Rendezvous Hospitality Group (RHG) – that will combine its hospitality assets and recently acquired hospitality management unit.
RHG will have a net asset base of more than $300 million, with 13 hotels already under management and four other properties under development. More growth is expected under chief executive Iqbal Jumabhoy, who was brought on board in March 2009 to restructure Straits Trading’s hospitality business.
Mr Jumabhoy said his goal is to grow the company’s presence to more than 12,000 rooms in the region by 2020, from about 2,600 rooms now.
While RHG will be based in Singapore, it will look to the entire Asia-Pacific region for expansion. Target markets include Australia and New Zealand, South-east Asia, East Asia, India and the Middle East. Continue reading
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