HOP INN to accelerate expansion in Asia-pacific

HOP INN to accelerate expansion in Asia-Pacific– 4 new hotels to open in Japan as early as next year.
Bangkok – 28 August 2023

“HOP INN, a renowned leading budget hotel operator in Thailand and the Philippines, has announced its strategic investment plan of 10 billion baht for the expansion in Asia Pacific with its mission to achieve over 150 hotels and 14,000 keys operating across the region with expected revenue to grow by 4 times by 2030.

HOP INN operates under Erawan HOP INN Company Limited, a subsidiary of The Erawan Group Public Company Limited (SET: ERW), plans to expand HOP INN to 100 hotels in Thailand, 15 hotels in the Philippines, and 35 hotels in other APAC countries. The expansion will be executed either through M&A, newly built, lease and operate and franchise models.

Mr. Petch Krainukul, President of ERAWAN HOP INN said "After nearly a decade of successful operations of the HOP INN brand in Thailand and the Philippines since its first establishment in 2014, now it is time for a significant shift of our business growth. With the leading position of budget hotel operator in both countries, we take pride in HOP INN’s status as the preferred choice for both leisure and business travellers seeking budget accommodation. We are now exploring investment opportunities in other countries in the Asia Pacific."

“The first move will start in Japan with an investment of 1.7 billion baht for the acquisition of 3 hotels and 1 long-term lease hotel, with a total of 373 keys expected to open by Q1/2024. 3 hotels are already secured, located in prime tourist destinations within Tokyo and Kyoto, and 1 hotel is potentially closing by September. Since Japan is the top tourist destination where the hotel market is relatively stable with good recovery momentum, limited hotel supply growth, attractive financing cost and depreciation of the Japanese yen, the lowest in 25 years, it presents significant growth potential and an attractive investment opportunity where we can expand our budget hotel portfolio”, Mr Petch added.

HOP INN is committed to expanding its quality accommodation across Asia Pacific in response to a growing demand for budget hotels. With a decade of experience, HOP INN is determined to continue delivering its service excellence and responding to customer expectations and future tourism trends for sustainable business growth.

Contact Us

For Public Relations:
Sustainability Development and Corporate Communication Division 
The Erawan Group Public Company (Limited)
Ms. Rungthip    Tel: 0 2257 4588, ext. 102 
Email: rungthip@theerawan.com

For Investor relations:
Management Information System & Investor Relations Department
The Erawan Group Public Company (Limited)
Ms. Tawanna    Tel: 0 2257 4588, ext. 422 
Email: tawanna@theerawan.com

About ERAWAN HOP INN

ERAWAN HOP INN Company Limited (“ERAWAN HOP INN”), a subsidiary of The Erawan Group Public Company Limited, currently operates 51 HOP INN hotels spread across 40 prime locations in Thailand and 7 HOP INN hotels in the Philippines. ERAWAN HOP INN continues to expand HOP INN hotels in Asia Pacific, maintains its competitive advantage and strengthens its leading position as the most consistent budget hotel network in Asia Pacific.

About The ERAWAN Group

The Erawan Group Public Company (Limited) (SET: ERW) or “ERAWAN”, is an investor and operator with significant investment and business development in the hospitality industry in Thailand and the Philippines. ERAWAN engages in the hospitality business at all levels, ranging from 5-star hotels to budget hotels. By the end of the year 2022, ERAWAN will have a total of 76 hotels in Thailand and the Philippines and is expanding our investments in the Asia-Pacific region. For further details, please visit our website www.theerawan.com