Flight Centre Travel Group (FLT), a Brisbane-based retail travel outlet founded in 1982, is one of Australia’s largest companies of its kind in the country. The company has recently been expanding its reach to other neighbouring countries in the Asia-Pacific region. Now, it is not only one of Australia’s largest travel agencies, but also one of the largest in the world, with its company-owned operations happening across 14 different countries, in addition to their corporate travel management network which reaches into over 75 countries across the world.
As part of this endeavour, FLT has made moves into the hospitality market of Thailand, which it has now successfully entered, on the second weekend of July, 2017. An announcement was made by Thailand’s Bespoke Hospitality Management Asia (BHMAsia) , confirming the rumours regarding their acquisition by FLT.
BHMAsia is an Asia-Pacific hotel management company based in Bangkok, with their headquarters located not far from Novotel Sukhumvit Bangkok, on SukhumvitSoi 13, Bangkok. The company is privately owned and operated by its executives, both Thai and foreign.
The acquisition of BHMAsia will be FLT’s first investment in the hospitality sector, and is expected to improve on the company’s in-destination travel experiences division. According to them, this division is one of the company’s core business pillars, one of three, alongside its leisure and corporate travel operations.
This expansion will add to the conglomerate of FLT, which includes approximately 19,000 employees and 3,000 stores located globally, with the company’s yearly group revenues exceeding US$14B.
BHMAsia has released a statement on the matter, made by the company’s Chief Executive Officer, Anthony McDonald. He says that the acquisition of BHMAsia by FLT would help accelerate the group’s growth, and that this move was a strategically sound idea.
According to his statement, Flight Centre has customers that are in need of hotels to accommodate them, whilst BHMAsia has hotels that are in need of customers to accommodate. He says that, by utilizing FLT’s global network, BHMAsia and their hotels can deliver improvements to both their owners and investors, as well as for their customers.
BHMAsia manages properties located in Bangkok, near Novotel Sukhumvit Bangkok, Phuket, Samui, Chiang Mai and Pattaya.
Meanwhile, BHM handles several brands, including X2, X2 Vibe and Away.
Details of the deal will be revealed soon, following the finalization of the business transaction.