The opening of Hyatt Regency Bangkok Sukhumvit is set for the 3rd quarter of next year as the hotel brand looks to capitalise on the tourist high season which takes place around that time, reports local media. The new hotel is being developed by Grand Asset Hotels and Property Plc and is located on Sukhumvit Road close to the Nana BTS station.
“The tourism business in Bangkok will continue growing. The average occupancy rate will be about 85% this year, and in the Sukhumvit area it will be close to 90%,” says Sammy Carolus, Hyatt Regency Bangkok Sukhumvit General Manager, to the Bangkok Post.
The initial goal of the hotel is to have a 70% occupancy rate in the first 12 months of operations which will then rise to 80-85% after that. This number would be similar to other hotels in the Sukhumvit area.
The hotel is the 1st Hyatt Regency property in Bangkok. There are 3 other hotels under the Hyatt name in the Thai capital. These are the Grand Hyatt Erawan Bangkok, Park Hyatt Bangkok, and Hyatt Place Bangkok Sukhumvit. The new hotel will have a total of 273 rooms and the owner is targeting both leisure and business travellers. It will contain a daylight ballroom, multi-purpose meeting rooms, and a botanical garden among other features.
Average daily room rates for hotels in Bangkok are predicted to be among the lowest in Southeast Asia and now Thailand tourism bodies are looking to find ways to bring in quality tourists as opposed to focusing the amount of travellers.
“This hotel is targeting mainly intra-Asian markets, the US, Australia and the Middle East,” says Sammy. The property will be going up against several established hotels in the Nana area including Sofitel, Westin Grand, Landmark, Hilton, and Radisson Blue.