Royal Group eyes more hotel buys in Asia, Europe

ROYAL Group, a property group with an enterprise value of more than S$3.5 billion, is looking to make hotel acquisitions in Kuala Lumpur, Sydney, London and continental European cities, among others.

In an interview with The Business Times, the group's managing director Peter Wilding also revealed that other potential acquisition markets include Jakarta, Bangkok and Hong Kong.

"We see significant growth in the hospitality business; we generally remain bullish on tourism globally, which is being aided by cheaper airline travel. We focus on key locations in gateway cities - and our primary target market would be business travellers."