Fico Corp, a hotel operator owned by the Srichawla family, is committed to pursuing the business model of Minor International Plc, which has built a conglomerate from its food and and hotel business.
Krit Srichawla, CEO of Fico and newly appointed chairman of Evolution Capital, said the prospect of the food and budget-hotel business is promising in both Thailand and Asean, particularly after the regional integration in 2015.
Fico, which owns five hotels in Thailand managed by Accor, acquired a couple of weeks ago a 33.7% stake in SET-listed Evolution Capital, a diversified alternative-asset manager and investment adviser focused on Asia.