Red Planet Hotels has checked out of its partnership with AirAsia group’s Tune Hotels and now plans to go it alone.
Red Planet owned and operated 21 properties under the Tune Hotels brand in the Philippines, Indonesia, Japan and Thailand, and will now go it alone.
We’ve decided to launch our own brand and go our own way," said Red Planet’s chief executive Tim Hansing.
"It’s all about value. Value for our customers and creating value for our shareholders."
Privately owned Red Planet operates a portfolio of 24 hotels in total and still has a 16% stake in Tune Hotels.
Red Planet also said it will open new hotels in Tokyo and Bangkok later this year.
