Singapore's Castlewood Group today announced a strategic partnership with Début Hotel Group, a part of Hampshire Hotels Management, for the development and operation of the upper-upscale, lifestyle Dream Hotels brand throughout Asia as part of its expansion strategy.
Castlewood Group and its subsidiaries expect to develop up to 20 Dream Hotels over the next 10 years. Dream Hotels are individually curated properties that are contemporarily chic and well suited to discerning travelers seeking exceptional experiences in a cosmopolitan atmosphere.
The Dream Hotels brand will make its first appearance under the Castlewood Group umbrella at its triple award-winning flagship hotel and spa in Laguna Phuket developed by 8over8, a part of Castlewood Group. The newly-named Dream Phuket is slated to open in December this year.
"We are absolutely delighted to enter into a partnership with Début Hotel Group and Dream Hotels," said Chris Comer, CEO, Castlewood Group. Both Début and Dream share Castlewood Group's vision of delivering world-class hotels. When we were approached about this unique opportunity, a partnership with this visionary lifestyle hotel group made perfect sense for us and our investors. A great success story is in the making as we team up with a hotel company that not only delivers a solid and consistent occupancy rate, but that can match this revenue dollar for dollar with its food and beverage offering, which is incredibly rare. I believe we will create something truly remarkable, partnering our deep experience in the Asian market with Dream's unique and edgy brand offering."
Castlewood Group is a Singapore property development company which sponsors commercial real estate investments.
"We are very excited to grow the widely recognized Dream Hotels brand with the strategic and thoughtful partners we have in Castlewood Group and 8over8 Development," said Jay Stein, Chief Operating Officer and interim President and Chief Executive Officer of Début Hotel Group and Hampshire Hotels Management. "We are confident that Castlewood's seasoned Hotel Management team will manage Dream Phuket, the first hotel to open under the agreement, and each of the upcoming Dream hotels, in alignment with the brand's philosophy."