Thailand's first Park Hyatt hotel will open its doors at Central Embassy near Bangkok's Phloenchit intersection in next year's second half after a delay of 18 months.
Both Central Group, the operator of Central Embassy, and Chicago-based Hyatt Hotels Corporation want the Park Hyatt Bangkok to be the flagship property for the super-luxury hotel label.
The delay has been caused by their attention to detail as they worked on issues including the hotel's design and architecture.
The hotel is on the top or 24th floor of Central Embassy and has been designed by Amanda Levete Architects.
It will have 222 rooms including 30 premier suites.
Three luxury restaurants, four bars and a ballroom will be the highlights of the hotel, which will target both local and international guests.
The six-star hotel expects its food and beverage operation will generate half its revenue, general manager Michael Golden said.
"This hotel will be our flagship property under the Park Hyatt brand," he said.
"It's a good start, and we hope we can attract hotel owners in resort destinations such as Phuket and Koh Samui to use our management chain service."
Although Bangkok's hotel industry remains oversupplied, Mr Golden believes the Park Hyatt chain can deal with tough competition thanks to its solid marketing network and brand reputation among customers.
He said the stunning design of Park Hyatt Bangkok would be very attractive once it was finished.
"People make their choices based on brand value and availability," he said.
Mr Golden feels confident there are opportunities for the luxury hotel brand in Bangkok.
The Park Hyatt chain is very optimistic about Thailand's tourism sector next year, and it will be a good time to open the hotel to welcome a full tourism recovery after the deadly Erawan Shrine bombing affected the industry for a short period, he said.
In the first nine months of this year, Thailand welcomed 22.1 million international tourists, up 27% year-on-year, with tourism revenue rising by 30% to 1.04 trillion baht.
The Tourism Authority of Thailand expects international tourist arrivals will reach 30 million this year, exceeding its earlier target of 28.8 million.
Mr Golden said it was not easy to find the right location and the right hotel owner to debut the first Park Hyatt presence in Thailand, as it required a prime location and a distinguishable design requiring investment from the hotel owner.
There are currently 34 Park Hyatt hotels worldwide.