Slumber Party Hostels Has Successfully Acquired Bodega Hostels
Bangkok, Thailand, April 28, 2021 / TRAVELINDEX / Collective Hospitality (CH), the owner and operator of Slumber Party Hostels (SHG), Path and Socialtel brands, has successfully acquired Bodega Hostels to become the largest hostel company in South East Asia and fourth largest globally, with 25 properties and more than 2,500 beds across Thailand, Indonesia and Cambodia.
Established in 2012, SHG’s business model is based on providing the 18 to 35year old adventure traveler with a ‘one-stop-travel’ experience that features design-lead hostel facilities, local tour operation and management, and events held in their restaurants and bars. SHG has organically grown and expanded regionally, and with the recent Bodega Hostels acquisition, the company now totals 25 properties in Thailand, Cambodia, and Indonesia.
Bodega Hostels was established in 2013 and operates nine hostels in key tourist markets including two in Bangkok – Khaosan and Sukhumvit Road, two in Chiang Mai – Old Town and Thapae, and one each in Koh Phangan, Mae Hong Son, Phuket, Ao Nang and Siem Reap.
“This acquisition was a strategic move aimed at growing our market share and expanding the expertise in our workforce by bringing skilled team members into the company” said Mr. Edmund Lowman, Founder of SHG and CEO of Collective Hospitality, adding “SHG itself has also acquired five new properties in Koh Tao, Koh Phangan, Koh Phi Phi and two in Indonesia – Lombok and Bali”.
The COVID-19 crisis has brought the world to a standstill – with the global Travel and Tourism industry bearing the brunt of this in the past 12 months – however, Collective Hospitality has identified key business expansion opportunities in light of the pandemic. The company stated that its robust and experience-focused business model has a successful track record and regularly outperforms competitors,
“Implementation of our business model will add value to the newly acquired assets through diversification of revenue streams, development of brand presence and centralized strategic support,” said Mr. Lowman, adding, “As the bruised travel industry awaits vaccine distribution, a quick rebound in demand is likely to happen. For Asia, a gradual but full recovery is expected to happen leading to strong capital appreciation in the coming 3-5 years”.
Despite the economic hardship, SHG has still been able to grow the organisation with opportunities and milestones on the horizon, most prominently, announcing the construction completion of their flagship Socialtel property. Socialtel is a 130-room property constructed on Koh Samui and features a Beach Club, Speakeasy, IV Bar and a Co-working Space, as well as a number of other unique features and facilities.
Collective Hospitality is pursuing leasing and management opportunities in the Asian region to help operators and owners put money in their pockets today. Areas of expansion include Sri Lanka, Vietnam, Philippines and Indonesia, to add to its umbrella of strongly managed brands and assets and to further expand its portfolio and reach to meet consumer demand.