Plaza Premium Group is set to invest $300 million to fuel growth over the next three years, with key focus areas including market expansion and product diversification.
The group currently operates more than 250 airport lounge, dining outlet, transit hotel and airport passenger service locations across 80 airports in 30 countries, having added 70 locations since 2019.
Around $160 million will be invested in growing the group’s portfolio across the Asia-Pacific region, with a focus on Southeast Asia and India, while a further $100 million has been earmarked to develop operations in the Middle East.
The group said that other strategic markets where investment will be spent include the UK and the Americas. Imminent openings include locations in Abu Dhabi, London, Vancouver, Kenya, Kuala Lumpur, Indonesia, Chongqing and Osaka.
Earlier this year the group opened its second African lounge, located within Terminal 1D at Nairobi’s Jomo Kenyatta International airport.
Plaza Premium Group will also focus on product diversification, and has launched OneTECO (TravelExperienceEcosystem) – a management system that “seamlessly connects the demand and supply sides of the entire airport hospitality ecosystem under one platform”.
A new travel solution programme is also set to launch under the name Smart Traveller in the third quarter of this year.
Other investment areas will include research and development, with the opening of a new innovation hub in Hong Kong. The group said it is developing robotic assistance in lounges, and is building a new dynamic pricing model based on “heatmapping”.
A new global ESG lead has also been appointed and the group has commissioned a materiality study to develop a sustainability strategy.
Commenting on the news Jonathan Song, global director of business development, said:
“Our investment in global expansion and innovation will support our aspiration to become a household name in airport hospitality.
“We believe it will also propel the growth of the entire airport business ecosystem. By working closely with the world’s leading airports, we aim to strengthen global connectivity and deliver exceptional experiences to make travel better for travellers.”
Last month Plaza Premium unveiled the latest in its Art and Lounge series, with new exhibitions of contemporary British art at two of its Gatwick and Heathrow lounges.
