AAA Sansiri sinks $80m into deal spree

Sansiri sinks $80m into deal spree

Thailand-based real estate developer Sansiri announced $80m of investments in six companies on Wednesday, $58m of which went to US-based boutique hotel operator Standard International.

Sansiri is most prominent in its home country, but also operates in China, Hong Kong, Singapore, Taiwan and Japan. It said it targeted asset-light companies operating in high-growth sectors, and selected global companies in a bid to enhance its international holdings.

The company took a 35% stake in Standard, which operates the eponymous hotel brand, along with last-minute booking app One Night, in which Sansiri invested an undisclosed additional amount, and experience-based hotel brand Bunkhouse.

Sansiri also co-led a $15m series B round for UK-based hospitality management provider Hostmaker with hospitality property investor Gaw Capital, investing alongside DN Capital, Ventech and DSG Consumer Partners.

Hostmaker provides management services for homeowners providing short-term accommodation through online platforms such as Airbnb, covering housekeeping, interior design, professional photography and regular pricing reviews that ensure they get best value for their properties.

Ventech and DN Capital had previously participated in a £5m ($6.2m) round for Hostmaker, which has now raised a total of $25m, in February 2017.

Sansiri also provided $12m of series B funding for Singapore-based co-working space provider JustCo at a $200m valuation last month.

The deals were rounded out by investments of undisclosed size in US-based urban farming technology provider Farmshelf and UK-based lifestyle media company Monocle.

Srettha Thavisin, president of Sansiri, said: “Our next chapter centres on anticipating and meeting evolving consumer needs by creating a world-class modern living platform.

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.”

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