South Korean hospitality group Sono International has acquired Cross Hotels & Resorts, one of Southeast Asia’s fast expanding hotel brands.
Sono International – best known for its lifestyle, wellness, and luxury accommodations – has acquired Cross from parent company Flight Centre Travel Group. Acquisition terms are currently confidential.
Bangkok-based Cross has a portfolio of 28 hotels in Thailand, Indonesia, Vietnam and Japan.
Sono’s interests include hotels, golf courses, ski resorts, equestrian centres and marinas.
Cross was part of FLT’s Horizon Three business stable, which operates alongside its global leisure and corporate travel networks and includes:
Coach touring businesses Topdeck and Back-Roads (Europe-based)
Destination management company Discova (Asia-based); and
Cycle touring business Grasshopper (Asia and Europe).
“Cross is a good business with solid foundations for future growth,” FLT managing director Graham Turner said.
“This deal will cement its future as part of a large and expanding hotel management organisation, while also allowing us to focus on other exciting growth opportunities within our Horizon Three business network.
“For example, we recently announced plans to relaunch Topdeck as a small group tour operator, catering for up to 18 travellers per trip and taking in new experiences, new routes and destinations.
“Discova is also performing well and expanding to include new community development projects, new geographies and a wider portfolio of Discova-operated experiences within its key local markets in Asia.”
Harry Thaiiwal, chief executive of Cross Hotels & Resorts, said joining forces with Sono International was a natural fit for Cross.
“This partnership opens new opportunities for innovation and expansion, strengthening our position across key markets while staying true to what makes Cross unique.”