The company behind Grande Centre Point hotels, LH Mall & Hotel Co, has reserved THB 5 billion that it plans to use to buy or lease new land plots in prime Bangkok locations this year, Thai media reports. The company will eventually use the land to develop new hotels.
LH Mall & Hotel Co, a subsidiary of developer Land & Houses Plc, has already set its sights on 2 land plots in prime locations along Ekkamai and Thong Lor that are close to Sukhumvit Road. The company prefers these locations as there are many international visitors who wish to stay in this area.
Now is a good time for hotel expansion since there are opportunities due to the sharp growth of international tourists to Bangkok, tells Suwanna Buddhaprasart, Chief Executive of LH Mall & Hotel Co, to The Nation. The most notable increase in tourists has come from Asia and America.
The company is expecting increases in both occupancy and revenue for its hotels in Bangkok with Asian tourists accounting for a majority of stays. Guests from China, Japan, South Korea, India, Hong Kong and Malaysia have been coming to Thailand in record numbers recently. Grande Centre Point says it has seen a 10 per cent rise in bookings from Asian visitors so far this year.
“The higher number of Asian and American tourists helps offset the potential loss of European tourists this year,” says Suwanna.
The 442-room Grande Centre Point Sukhumvit 55 was the company’s most recent launch. So far Japanese guests comprise 35 per cent of all of those staying at the new hotel with 30 per cent being from South Korea. Despite the competitive hotel business in Thailand, Grande Centre Point Sukhumvit 55 has been popular because of its unique location in Thong Lor. It is close to the skytrain station as well as popular cafes and community malls such as The Commons.
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