Thai hotel group to acquire 10 properties in Europe in 3 years

Bangkok

ABSOLUTE Hotel Services (AHS), a leading Thai hotel investment and management group, plans to aggressively expand its hotel business overseas, aiming to acquire 10 properties in Europe over the next three years.

Chief executive Jonathan Wigley said Europe had a lot of tourism potential. The economic downturn in many European countries has hurt many businesses, including hotels and hoteliers looking to sell their properties.

"The timing is right to buy hotels in Europe as the euro is weak against the baht. Buying a hotel over there is cheaper than buildi…