NEW YORK, NY-- KOP Capital Pte Ltd has acquired a 50% stake in Stein Group International, parent company for one of the fastest growing portfolios of integrated companies in the luxury travel and leisure sector.
(Villa Mangiacane, Tuscany, a Steing Group property, bottom left photo)
This investment, worth US $250 million, marks the local real estate company's foray into the global property arena, reaching across Europe and North America.
With KOP Capital's participation, Stein Group International will extend its brands into Asia by 2010, including Singapore, China, Indonesia and Thailand.
Under Stein Group International's "Stein Hotels and Resorts" brand, there are 15 hotels, 12 operating and three under deve
lopment in seven European countries.
lopment in seven European countries. (Casa Angelina, Amalfi Coast, Praiano, Positano, Italy, a Stein Group property, top left photo)
In 2005, "Luxury Lifestyle Hotels and Resorts", a unique reservation system for over 125 small luxury hotels in Europe, was created.
LUX magazine was subsequently established by Stein as an in-room reading material to showcase elements of the luxury lifestyle.
"Singapore and Asia play very strategic roles in propelling KOP Capital towards the global property space. We recognise the growth of global wealth and affluent individuals around the world, and coupled with our understanding of this segment, we can elevate luxury living to a new stratum by establishing the "Stein" brands in Asia.
" In two years, guests will be able to enjoy the exceptional level of service and quality in Asia, be it during their stay in S
tein Hotels and Resorts, or Stein Restaurants," said Ms Ong Chih Ching, Founder and Group CEO of KOP Capital.
tein Hotels and Resorts, or Stein Restaurants," said Ms Ong Chih Ching, Founder and Group CEO of KOP Capital.(The College Hotel, Amsterdam, a Stein Group property, middle right photo)
Established by Mr David Stein, (top right photo) Founder and Chairman, and headquartered in Barcelona, Stein Group International has been focusing on the development and operation of a collection of small, luxury hotels located in the Northern Mediterranean and in selected European capitals.
Stein said, "We are very excited about working with KOP Capital in establishing and expanding Stein Group International's brands in Asia. Singapore is now the region's tourism hub and one of the top choices for living in the world.
"We are certain that KOP Capital will be a dynamic partner based on their strong understanding of the Asian real estate market and the audience segment.
"We are confident that Stein Group International will be able to build upon the strong track records of both organisations to deliver world-class quality living that our consumers are looking for."
(Villa Mangiacane, Tuscany, a Steing Group property, bottom left photo)CONTACT:
David Fardon, Phone: +3493 452 1430, Email: dfardon@steinhotels.com
Stein Hotels And Resorts
http://www.steinhotels.com/Rambla Catalunya 89Barcelona, 08008, Spain, Tollfree: 877 783 4600, Phone: +34 93 452 14 30, Fax: +34 93 452 14 31
Email: info@steinhotels.com
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