Minor Hotels plans to open its first Thai hotel under the NH Collection brand in Chiang Mai next year as it aims to expand the brand into prime tourism locations.
Dillip Rajakarier, chief executive of Minor Hotels, said NH Collection under the NH Hotel Group has a strong presence in Europe and South America, with potential to grow in Asia, especially China.
He said NH Collection can also be another flagship for expansion in China after the company signed a strategic partnership with Funyard Hotels and Resorts, a part of Country Garden Group, a Chinese-based developer, last year.
At present, there are 93 NH Collection hotels in 19 countries.
The company hasn't set a specific target for the number of NH Collection properties but it's confident that the brand has potential to attract investors.
Minor Hotels yesterday signed a hotel management agreement with Osmo Ping River, a subsidiary in which Osmo Properties Group holds a 70% share, to operate NH Collection Chiang Mai Ping River.
"Tourism rebound by 2024 is quite pessimistic, we expected that tourism will be back to 2019 level as early as the third or fourth quarter this year based on our data. Booking trend in Europe is very strong despite low season," Mr Rajakarier said.
He said Thailand has to learn from other countries to fully reopen and lift the remaining restrictions to stimulate an influx of tourists.
Jirath Pavaravadhana, chairman of Osmo Properties Group, said Chiang Mai is a preferred destination for tourists, thanks to a rich culture which can offer value-added experiences instead of luring with heavy price promotion to attract guests.
NH Collection Chiang Mai Ping River has an investment budget of over 350 million baht and is set to open in the first quarter of 2023.