October 28, 2025 -- Flight Centre Travel Group (FLT) has sold its Asia-based hotel management business to South Korea’s Sono International Co. Ltd.
The business consists of Cross Hotels and Resorts and PT Bespoke Hospitality Management Indonesia (collectively referred to as Cross) and includes more than 1500 keys at 17 hotels across Thailand and Indonesia.
Cross was part of FLT’s Horizon Three business stable, which operates alongside its global leisure and corporate travel networks and includes:
• Coach touring businesses Topdeck and Back-Roads (Europe-based)
• Destination management company Discova (Asia-based); and
• Cycle touring business Grasshopper (Asia and Europe)
“Cross is a good business with solid foundations for future growth,” FLT managing director Graham Turner said. “This deal will cement its future as part of a large and expanding hotel management organisation, while also allowing us to focus on other exciting growth opportunities within our Horizon Three business network.
At a glance
- Company
- Flight Centre Travel Group
- Ticker
- FLT
- Announcement
- Acquisition
- Location
- Thailand and Indonesia
Key figures
- Hotel keys
- more than 1500
- Hotels
- 17
People
- Graham Turnermanaging director
Products and programs
“For example, we recently announced plans to relaunch Topdeck as a small group tour operator, catering for up to 18 travellers per trip and taking in new experiences, new routes and destinations.
“Discova is also performing well and expanding to include new community development projects, new geographies and a wider portfolio of Discova-operated experiences within its key local markets in Asia.”
Sono is a leading hospitality and leisure operator with interests in hotels, golf courses, ski resorts, equestrian centres and marinas.
The acquisition’s terms are currently confidential and not material to FLT. CBRE was FLT’s exclusive sell-side advisor on this transaction.
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Questions around this news
Who acquired Cross Hotels and Resorts?
The buyer is Sono International Co. Ltd., a South Korean hospitality and leisure operator. The transaction covers Cross Hotels and Resorts together with PT Bespoke Hospitality Management Indonesia. The release describes Sono as having activities across several leisure and hospitality sectors, including hotels, golf, skiing, equestrian facilities and marinas.
What properties and operations are included in the Cross sale?
The transferred business has more than 1,500 hotel keys across 17 properties in Thailand and Indonesia. It comprises Cross Hotels and Resorts and PT Bespoke Hospitality Management Indonesia. In hotel terminology, a key generally refers to a room available for guest use, rather than a measure of the property's value or ownership.
How does the sale fit into Flight Centre's wider business plans?
Cross belonged to the company's Horizon Three group, which also includes coach touring, destination management and cycle touring operations. The managing director said the sale would let the company concentrate on other opportunities in that group. The release also mentions plans to reposition Topdeck for smaller-group trips and expansion activity at Discova.
Were the sale price and other transaction terms disclosed?
No. The release says the transaction's terms are confidential and not material to the seller. It also identifies CBRE as the seller's exclusive sell-side advisor. No purchase price or further financial details are provided in the announcement.
