Several developers and hotel companies have been wooed to Sri Racha thanks in part to a large Japanese expat community that prefers serviced residences to traditional condos. Oakwood is the latest company to be attracted to the region after announcing it will open a new property in Sri Racha.
“The strategic location of the property in the heart of Sri Racha, where it’s positioned in the middle of multiple industrial estates as well as Laem Chaebang Port, is an ideal setting for Oakwood and we expect to achieve over 50 per cent occupancy after full operations at the end of 2017,” says Dean Schreiber, Managing Director of Oakwood Asia Pacific, in a press release.
The Oakwood Hotel & Residence Sri Racha will allow the company to increase its footprint in the Thailand. The new hotel will open later this year after the full opening of the adjoining Atara Mall in September. The property will be Oakwood’s 3rd in Thailand.
“We are confident about the potential of the Thailand market and will continue to grow the Oakwood brand in Thailand. This property sees the launch of our first outside Bangkok, as well as the introduction of our product extension Oakwood Hotel & Residence, which includes a “hotel” product – all of which is very exciting,” says Schreiber.
There will be 458 units at the Oakwood Hotel & Residence Sri Racha including both hotel rooms and serviced apartments. A swimming pool, a fitness centre, a games room, a library, 24-hour supermarket, and meeting and ballroom facilities are among the facilities at the property. Oakwood currently has 35 properties in Asia spread across 19 cities in 11 countries.
The company targeted Sri Racha as the city continues to grow with several large-scale manufacturing companies now operating nearby. A number of hotels and serviced apartments have either opened or are planning to open in the region to help serve the growing demand.
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