AccorHotels is set to expand its portfolio and the Movenpick brand in Thailand after completing the acquisition of the Swiss hospitality firm.
Mr Basset says Movenpick will fill the gap in AccorHotels' brand mix.
Patrick Basset, chief operating officer for AccorHotels in upper southeast and northeast Asia and the Maldives, announced the completion of the acquisition of Movenpick Hotels and Resorts yesterday. The deal is valued at €482 million (18.3 billion baht).
The acquisition, which started two years ago, excluded Movenpick's other activities -- wine distribution, ice cream and markets.
Mr Basset said there will be no changes for both master brands in their expansion or management after the acquisition, but further agreements between these two chains with hotel owners may be revised based on one-on-one discussions.
AccorHotels and Movenpick will continue to expand their network in Thailand and elsewhere as planned.
"Movenpick will fill the gap between our mid-scale hotels -- Mercure and Novotel brands -- and the upper segment Swissotel, Pullman and M Gallery brands," Mr Basset said.
AccorHotels is set to operate 17 more hotels with a total of 4,150 rooms in Thailand by 2020, with nine different brands such as Sofitel, Novotel and Ibis Style. AccorHotels operates 74 hotels in Thailand with 17,275 total rooms.
The Thai market recorded growth for the second half of the year. Average daily room rate was up 4% and total revenue grew 10.8% when compared with the same period last year.
Top clients for AccorHotels in Thailand are from China, Thailand, Japan, South Korea and Australia, respectively.
Mr Basset said Thailand is Movenpick's largest market in Southeast Asia in terms of hotels. The company has 15 properties in seven countries with 3,605 rooms.
Of the total, seven properties are in Thailand, with two each in Phuket and Bangkok and one each in Pattaya, Chiang Mai and Hua Hin.
Movenpick is set to open 16 hotels with 5,526 rooms in Asia. Three of them will be in Thailand: Movenpick Resort Khao Yai, set to open this year; Movenpick BDMS Wellness Resort Bangkok (2019); and Movenpick Resort Mai Khao Beach Phuket (2020).