ECs are attractive investments due to their low purchase price and government subsidies, offering HDB EC potential high returns.
As Minor Hotels expands its presence in Europe, the lifestyle brand Avani Hotels & Resorts is targeting “millennial-minded travellers.” Already with a hotel in Portugal, the brand is looking to open five more in Europe in the next two years: one in Spain, two in Italy, and one in Germany, with a sixth hotel coming to the Netherlands in 2024.
Starting off in Spain, the 101-room Avani Alonso Martinez Madrid Hotel will open, followed by two rebrands in Italy – the 65-room Avani Palazzo Moscova Milan Hotel and the 144-room Avani Rio Novo Venice Hotel. Later in the year, the 256-room Avani Frankfurt City Hotel will have its grand opening in Germany. The last of the European hotels will be the 163-room Avani Museum Quarter Amsterdam Hotel in the Netherlands.
Expanding further afield, Avani Hotels & Resorts will also extend its footprint to Latin America, with the 140-room Avani Cancun Airport Hotel in Mexico launching in 3Q2023, and the 66-room Avani Royal Zona T Bogota Hotel in Colombia opening in 4Q2023.
Launched in 2011, the brand currently has 38 properties in 20 countries across Asia, Australasia, the Middle East, Indian Ocean, Africa, and Europe. With more than 530 hotels in operation, Minor Hotels CEO Dillip Rajakarier believes that expanding the Avani brand into Europe and Latin America will diversify the group’s hotel offerings in the upscale tourist segment.