One of the few remaining plots of land available in Bangkok’s downtown could soon be developed by the Sukosol Group, the operator of Sukosol Hotels, according to the Bangkok Post. The company revealed plans to build a luxury mixed-use development in the Ploenchit area sometime during the next five years.
The Bangkok Post added that the development will be built on a three-rai plot of land that is currently home to a Central Chidlom parking lot. A number of investors have already approached the Sukosol family about a possible joint venture deal but the hotel group has yet to find a partner they deem to be suitable. The concept of the project is still being finalised but the cost is likely to surpass the THB1 billion mark. A luxury hotel will be one of the anchor tenants but whether it will include retail or residential space remains to be seen.
“Although Ploenchit is a tough area for the hotel business, we are confident there is still room to tap the high-end tourist market,” Marisa Sukosol, executive vice-president of Sukosol Hotels, told the newspaper. “People are always looking for something different and good service that comes from the heart. Many people don’t want to stay at cookie cutter hotel chains.”
Tourism in Thailand continues to be brisk and now is a good time to invest, Marisa noted. The city is attractive for a number of different reasons. Bangkok is a shopping paradise, has an interesting culture, vibrant communities, beautiful architecture and a rich history. These are just a few reasons people are drawn to the city and according to Marisa some of them have never been promoted to European and Japanese tourists.
Sukosol Hotels operates five hotels in Thailand at the moment. These include The Siam and The Sukosol in Bangkok and Siam Bayshore, The Bayview and Wave in Pattaya.
Image: The Sukosol Bangkok
