Luxury lifestyle operator Stein Hotels and Resorts has changed its name to Franklyn Hotels and Resorts. The reflagging is part of a new corporate initiative to focus on strategic growth with a global rather than a Eurocentric outlook, according to Michael Saglid, Franklyn's ceo. Franklyn will be helped along by the capital and business connections of KOP Capital, a Singapore-based real estate and private equity player that acquired a 50% stake in the hotel company's parent, Stein Group International, last August. Subsidiary KOP Hotels and Resorts will invest in both new-build hotels and acquisitions. Saglid expects to establish the brand's Asian presence by 2010. As a complement to its 13 hotels in Europe, Franklyn is targeting expansion in Singapore, China, Indonesia and Thailand.
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