Thai duty free giant King Power considers move into UK hotel industry
The CEO of King Power, Aiyawatt Srivaddhanaprabha, says the group is considering a move into the hospitality sector in the UK.
Speaking to the press yesterday, Aiyawatt says the idea comes at a time when property prices in the UK and Europe are dropping as a result of the global economic slowdown.
“Our deal will be finalised next year or in 2021.”
Aiyawatt adds that the group will continue to focus on King Power in Thailand, saying that despite some growth in the Thai economy, the duty-free giant is still feeling the effects of a drop in tourist numbers.
Despite this blip, King Power has managed to keep its “Creating Shared Value” (CSV) budget at 200 million baht annually, by supporting music, sports, and community projects.
King Power also supports Thai footballers, providing them with a chance to train with Leicester City, as part of the Fox Hunt campaign. Since its launch in 2017, 52 Thai footballers have been provided with training as part of the programme.
“We have continued organising CSV activities to support community products to export via our football team Leicester City. This will help them maintain sustainable income for a long time. We want to improve the quality of life for Thai communities and people.”