Origin Property Plc has reached a deal with InterContinental Hotels Group (IHG) to launch 3 hotels worth THB7.5 billion combined. The 3 properties will be located in Bangkok and Siracha and are aimed at serving the growing demand from Japanese people as well the influx of people the government’s Eastern Economic Corridor (EEC) investment is expected to bring.
The deal will see IHG launch the 1st Staybridge Suites in Asia Pacific. The property will see Origin form a new joint venture with its Japanese partner, Nomura Real Estate Development. The Thai developer is keen to become a fully integrated property developer, covering hotels, service apartment, office buildings, and lifestyle community malls and the partnership with IHG will allow it to enter the hospitality sector.
“IHG is one of the world’s leading hotel companies that operates and manages hotels across the world under various brands. It is well known for its professional management that never misses the international standard. We, therefore, decide to use 2 brands of IHG to operate our first 3 hotels. It’s our pleasure having a chance to work with IHG onwards,” says Peerapong Jaroon-ek, Chief Executive Officer of Origin Property, in a press release.
The new hotels announced were the Staybridge Suites Bangkok Thonglor, Staybridge Suites Chonburi Siracha, and Holiday Inn Suites Siracha Laemchabang. All 3 properties are expected to open by 2021. The Staybridge Suites brand is known for being more a serviced residence with rooms have kitchens, working areas, and living rooms among other features.
“We are delighted to partner with Origin Property Public Company Limited to expand our portfolio of differentiated hotels brands regionally. With the rising demand for long-stay accommodation in Bangkok and Siracha, this represents an excellent opportunity for us to introduce Staybridge Suites,” says Rajit Sukumaran, Chief Development Officer, Asia, Middle East and Africa, InterContinental Hotels Group.