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F&B player Katrina Group enters hospitality segment with purchase of Straits Organization
KATRINA Group, which owns and operates restaurants such as Bali Thai, Streats and So Pho, completed on Monday its purchase of serviced residences provider Straits Organization for S$358,000.
That marks the group's entrance into the hospitality segment.
Straits Organization was founded in December 2017 and manages around 125 units in 15 different apartments and condominiums across Singapore.
Alan Goh, founder, chief executive and executive chairman of Katrina, said: "This acquisition reinforces our strategy of diversifying the Group's revenue stream across businesses, markets and segments to mitigate against weaknesses from any one sector."
He added that this acquisition is earnings accretive and believed it will provide a stable base of recurring income. It also opens the possibility for "cross-sector collaboration for our core F&B business and further regional expansion", he said.