Strategies to develop hotels off of Sukhumvit
LH Shopping Mall & & Hotel Co (LHMH), the operator of Grande Centre Point hotels, will reserve 5 billion baht to either purchase or rent land plots in prime Bangkok places to establish brand-new hotels this year.
Suwanna Buddhaprasart, president of LHMH, a subsidiary of home designer Land & & Houses Plc, stated the hotel growth is to capitalize chances developing from the sharp development of global travelers, specifically Asians and Americans.
The business has an interest in 2 land plots in prime places around Sukhumvit, most likely Ekamai and Thong Lor, as there are numerous global visitors in these locations.
Mrs Suwanna anticipates a rise in both tenancy and earnings for hotels in Bangkok as Asian travelers continue to comprise most of visitors. The variety of Asian traveler arrivals in Thailand is increasing, specifically from China, Japan, South Korea, India, Hong Kong and Malaysia.
” The greater variety of Asian and American travelers assists balance out the prospective loss of European travelers this year,” she stated.
Mrs Suwanna anticipates reservations by Asians at its hotels will grow 10% this year, while Americans will increase by 14%.
The business just recently released the 442-room Grande Centre Point Sukhumvit 55, including a Japanese onsen bathing center by Let’s Relax Medspa. Japanese consist of 35% of visitors at the brand-new hotel, 30% are South Korean and the rest are Americans, Europeans and Thais.
Somchai Meesri, basic supervisor of Grande Centre Point Sukhumvit 55, stated while the hotel service in Thailand is extremely competitive, his hotel has a great deal of prospective due to the fact that it lies in the heart of Thong Lor, near the skytrain station, dining establishments, style stores and neighborhood shopping centers.
” Lodgings in this location are mainly serviced houses and there are really couple of hotels, so we anticipate our hotel will create more than 420 million baht this year,” he stated.
LHMH’s Grand Centre Point Group published 2016 earnings of 1.75 billion baht, a 15% boost from 2015, while its tenancy rate balanced 85%.
The group is establishing the 400-room Grande Centre Point Pattaya hotel, due to open in 2019. The Pattaya hotel will be the brand name’s very first outdoors Bangkok.
Grande Centre Point Group has 4 hotels with 1,678 spaces in overall and will reach 2,000 spaces when the Pattaya hotel is opened.
