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 Red Planet Hotels has announced that it now has over 3,000 rooms under construction for the Tune Hotels brand, contained in a portfolio of 19 hotels spanning three countries – Thailand, the Philippines and Indonesia.

The milestone of 3,000 rooms under development comes 12 months after the investment company passed the 1,000-room mark, posting growth of 200% over the last year. This growth sees Red Planet Hotels with projects worth US$120 million now underway before it hopes to raise another US$100 million in equity by the first quarter of 2012.

Red Planet will have six Tune Hotels open by March next year, and will have 15 properties operational by December 2012. The company will use revenue from the soon-to-be operating hotels to invest and increase its room inventory further – aimed to increase by a minimum of 2,000 rooms per year over the next five years.

Red Planet Hotels has a franchise agreement with Tune Hotels and will operate their portfolio under the Tune brand. Red Planet Hotels currently has assets in Thailand, Philippines and Indonesia and will soon have sites for development in China, where the hotels will also come under the Tune brand.

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