IHG Looks To The East Of Thailand, Signs For Eight New Properties In A Single Deal

The Thai Eastern Seaboard was seen as a major industrial zone a couple of years ago, but is now emerging as a much-touted business, investment and tourism region, thanks to the drive by the Thai government to promote the Eastern Economic Corridor (EEC) to connect with China’s One Belt, One Road initiative.

Acknowledging the environment in the eastern provinces of the Kingdom, the InterContinental Hotel Group, responsible for the holiday inn suites in Rayong and across the world, signed a deal with the Pattaya-based real estate group, Ratanakorn Asset, for the development of eight hotels across Thailand, which will add at least 2,000 rooms, half of which will be within the reaches of the eastern seaboard.

The multi-brand signing will be adding properties to the Holiday Inn, Holiday Inn Express and Staybridge Suites brands, with the properties being new builds save for one. The new properties will ramp up the IHG’s portfolio in Thailand, which has 24 hotels open and 14 currently under development, which means that there’ll be new holiday inn suites in Rayong and across the country.

The first hotel to open as part of the partnership with Ratanakorn Asset will be the Holiday Inn Express Pattaya Koh Larn, which will be a direct conversion, set to open later in 2018 on a small island off of the coast of Pattaya. The remaining seven new properties will be new builds, which will include new holiday inn suites in Rayong, are set to progressively open from 2022 onwards until 2027 . Here’s the list:

  • Holiday Inn Resort Koh Larn;
  • Holiday Inn Resort Pattaya Jomtien;
  • Staybridge Suites North Pattaya;
  • Holiday Inn Resort Rayong;
  • Holiday Inn Resort Khao Lak Cape Kakarang;
  • Holiday Inn Express Phuket Kata, and;
  • Holiday Inn Express Samui Chaweng.

IHG Managing Director for Southeast Asia and Korea, Clarence Tan, says that the country’s performance has been reliably growing in the past five years, with the 2017’s numbers registering faster revenue growth compared to tourism growth and that was a good sign for everyone operating in the tourism sector. He adds that Thailand’s development into the EEC will bring a tide of growth for everyone, which they plan to surf.

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