IHG Hotels and Resorts has announced the signing of three hotels in Thailand with Asset World Corporation (AWC), an integrated lifestyle real-estate group.
The agreement includes Intercontinental Bangkok Chinatown which is the first luxury hospitality development in the area and two other projects in Chinatown and Pattaya, totalling 629 rooms.
The 332-key Intercontinental Bangkok Chinatown hotel will be situated within a mixed-use development in Verngnakornkhasem; and is scheduled to open in 2027.
The hotel will house three restaurants and bars, a swimming pool, fitness centre and 1,400 sqm of events and meeting space supplemented by eight private rooms.
The mixed-use development will also house the second property under this agreement – a 63-room lifestyle boutique hotel, converted from traditional four-storey shophouses.
A short drive to Suvarnabhumi International Airport, the development is located close to popular tourist attractions including the Grand Palace, the shopping district, Sathorn and Silom.
Another boutique hotel under the agreement will open in Pattaya in early 2024. Located within the Aquatique district, the property will house 234 rooms and suites, restaurants, a rooftop bar, a swimming pool, a spa and meeting rooms.
The new properties boost the strategic agreement between IHG and AWC to jointly develop more than 1,200 rooms.
Rajit Sukumaran, managing director, South East Asia and Korea, IHG, said:
“We are excited to work with our long-standing partner Asset World Corporation to unveil these three outstanding properties across Bangkok and Pattaya. Together, they will provide an extraordinary luxury hospitality, retail and lifestyle experience for our guests.
“Intercontinental Bangkok Chinatown will be our third Intercontinental hotel in Bangkok, and is the perfect choice for Verngnakornkhasem, one of the oldest neighbourhoods in the city. Meanwhile, we are in advanced discussion with AWC regarding the brand positioning of the other two properties in our agreement, in Bangkok and Pattaya.
“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 south east 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.”
Further elaborating on this partnership, Wallapa Traisorat, chief executive officer and president, Asset World Corporation, AWC said:
“We are delighted to partner with IHG Hotels and 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.”
