Established in 2007, there are 24 Tune Hotels operating 3,859 rooms globally with a pipeline of 38 m

While the value of the deal remains package tours to europe undisclosed it is a "significant multi-million dollar transaction" and the largest single corporate investment Red Planet Hotels has clinched package tours to europe in its two-year history.
It cements Red Planet Hotels - a major franchisee of the brand across South-East Asia - as the third largest investor in Tune Hotels with 9,975,038 shares. The investment follows an oversubscribed package tours to europe latest round of fund raising.
The company now has $180 million of investment in hotels, covering 3,191 rooms either operating or under construction package tours to europe in Asia. Tony Fernandes, founder of Tune and the Air Asia brands, remains the largest shareholder in Tune Hotels.
Established in 2007, there are 24 Tune Hotels package tours to europe operating 3,859 rooms globally with a pipeline of 38 more properties with 10,106 rooms, including the first hotels in India, Scotland, Australia and Saudi Arabia along with additional properties in Thailand, Indonesia, the Philippines, Malaysia and England.
Chief executive Tim Hansing said: "This significant investment and commitment to the Tune Hotels brand is indicative of Red Planet Hotels' well-balanced long-term development programme and provides tremendous value growth to our existing shareholders.
"As we move towards becoming a major owner and operator of Tune Hotels properties, this investment and endorsement of Tune's board and management allows Red Planet Hotels to participate and contribute constructively and meaningfully package tours to europe for the benefit of both companies.