News for the Hospitality Executive
in Stein Group International
Plans to Expand in Luxury Hotels
NEW YORK - September 19, 2008 - KOP Capital Pte Ltd recently 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. 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 development in seven European countries. 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 Stein Hotels and Resorts, or Stein Restaurants," said Ms Ong Chih Ching, Founder and Group CEO of KOP Capital.
Current Developments within KOP Properties Pte Ltd (KOP Properties)
KOP Properties is an investment company that develops and invests in real estate projects, with particular interest in Asia's most promising economies.
KOP Properties is a dynamic company which has created waves in the real estate industry with its bold vision and exciting project concepts, partnerships with internationally acclaimed brands and exceptional ability to recognize opportunities and generate exponential value for each of its projects.
In 2006, KOP Properties Pte Ltd went into joint venture with Emirates Tarian Capital (S) Pte Ltd to form Hayden Properties Pte Ltd. Developments within the portfolio of Hayden Properties include Asia's first full strata-titled, The Ritz-Carlton Residences, Singapore, Cairnhill and the world's tallest ensuite car porch residence, The Hamilton Scotts.
Ultra-luxury projects within the portfolio (Hayden Properties Pte Ltd)
• The Ritz-Carlton Residences, Singapore, Cairnhill – First Ritz-Carlton
full strata-titled residence in Asia [URL: www.rcresidences.com.sg]
Commercial developments within the portfolio
• Scotts Spazio – First transitional office released by the Urban Redevelopment
Authority of Singapore
About Stein Group International
Stein Group International is the holding company for a collection of
related companies focused on the development, sales, marketing and operation
of small luxury lifestyle hotels. Its brand, "Stein Hotels and Resorts",
consists of 15 hotels, 12 operating and 3 under development in seven European
Last year the company expanded its hotel operations into North America. Also, in 2007, the Group launched "Stein Lifestyle Residences" to develop and sell residential products serviced by their hotels. In 2005, The Group created "Luxury Lifestyle Hotels and Resorts", a sales organization for over 125 boutique hotels in Europe. The Group also publishes the international lifestyle magazine, "LUX", which has an annual circulation of over 1 million affluent readers.
David Stein, an American, is the founder and Chairman. He has extensive experience in the real estate business including the development of Monarch Beach, a highly successful billion-dollar resort in Southern California and the creation of a residential and golf-course development company in Spain.
With Europe's renowned status of producing quality brands and products for discerning consumers seeking luxury lifestyle living, KOP Capital and Stein Group International share a common vision and belief in delivering world-class quality products and services. This partnership is also timely, as it meets an increasingly affluent global market which looks for an understated luxurious lifestyle that is also exclusive. The affluent are now looking for unique hotel experiences that allow them to indulge in their luxurious needs and at the same time, equipped with the best in-house services.
Mr David 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."
Stein Group International