IHG expands footprint in Thailand
IHG Hotels & Resorts has signed three hotels in Thailand with long-standing partner Asset World Corporation (AWC). The multi-property agreement includes the new-build InterContinental Bangkok Chinatown—the first luxury hospitality development in the area—and two further projects in Chinatown and Pattaya, totaling 629 rooms.
“We’re excited to work with our long-standing partner Asset World Corporation to unveil these three outstanding properties across Bangkok and Pattaya,” said Rajit Sukumaran, managing director, South East Asia & Korea, IHG. “Together, they will provide an extraordinary luxury hospitality, retail and lifestyle experience for our guests. We plan to double our portfolio in Thailand in the next three to five years and these signings represent the strong growth momentum of IHG in Thailand and Southeast Asia. We look forward to working closely with AWC to expand their diverse hospitality and lifestyle offerings and bring our IHG family of brands to city and resort destinations throughout this wonderful country.”
“AWC remains confident Thailand’s tourism industry has a strong future and will continue with its investments,” said Wallapa Traisorat, CEO/president, Asset World Corporation. “The expansion of our cooperation with IHG further diversifies our hospitality portfolio and allows us to deliver even more impressive experiences while meeting a wider array of customer demands, in turn bolstering the potential of Thailand’s tourism sector to expand its customer base. It will also deliver experiences that will attract tourists from across the globe who emphasize selection and international service standards.”
She said, “We’re delighted to partner with IHG Hotels & Resorts, who share our vision of bringing world-class destination concepts to Thailand. Signing an agreement with a world-class partner coincides with our quality development plan and we share a vision towards creating a better future through sustainable growth. This collaboration also reaffirms our dedication to playing a part in enhancing Thailand’s tourism competitiveness. Our projects will feature distinct architectural designs as well as impressive experiences while also generating value for their surrounding communities, society and the environment.”
Set to open in 2027, the 332-room InterContinental Bangkok Chinatown hotel will be located within a mixed-use development in historic Verngnakornkhasem. It will feature two hotels, residences and a retail mall.
The hotel will feature three restaurants and bars, as well as a pool, fitness center and more than 15,000 sq. ft. of meeting and event space supplemented by eight private rooms.
The mixed-use development will also include the second property under this agreement—a 63-room lifestyle boutique hotel, converted from traditional four-story shophouses.
Another boutique hotel under the agreement will open in Pattaya in early 2024. Located within the Aquatique district, it will have 234 rooms and suites, restaurants, a rooftop bar, a pool, a spa and meeting rooms in excess of 7,200 sq. ft.
The triple signing is part of a long-standing partnership between IHG and AWC to manage a portfolio of properties offering more than 1,200 rooms across Thailand, including the 306-room InterContinental Chiang Mai Mae Ping Hotel that will open in 2022.
Thailand continues to be a strong growth market for IHG, with 32 hotels across eight brands in the country and another 33 properties in the pipeline. The new signings are part of the company’s aim to grow its luxury and lifestyle portfolio in Thailand by 50%, as well as its estate, across all of its brands, in the country.