AWC signs management deal with IHG on hotels
published : 21 May 2022 at 04:00
newspaper section: Business
Thai real estate firm Asset World Corporation (AWC) has signed a new hotel management agreement with IHG Hotels & Resorts for Kimpton Hua Hin Resort, with a targeted opening in 2024.
The move is set to expand AWC's diverse hospitality and lifestyle destination portfolio as travel demand is projected to rebound following Thailand's reopening.
Wallapa Traisorat, chief executive and president of AWC, said she is confident Thailand's tourism industry has a bright long-term future. AWC will continue to strengthen Thailand as one of the world's most attractive destinations by collaborating with Kimpton, she said.
"Kimpton is an exciting brand offering thoughtful design and world-class restaurants and bars. It will be a great brand to introduce to Hua Hin and elevate this lifestyle destination further," said Mrs Wallapa.
"We're confident together with a global partner like IHG, we will continue to lift the benchmark of Thailand's tourism industry and offer new distinctive experiences to both domestic and international guests."
Kimpton Hua Hin Resort has 124 rooms and is projected to open in 2024. A renovation is expected to transform the resort from the former Imperial Hua Hin, which closed in May 2019.
Serena Lim, vice-president of IHG's development for South, East Asia and Korea, said recent IHG search data found Hua Hin among the top 10 searched destinations in the region for international travellers. As a result, she expressed excitement about partnering with AWC.
"As the fourth Kimpton hotel in Thailand, following Bangkok, Samui and Khao Yai, the resort will strengthen the brand's positioning in the country and around the world. It should establish it as a hotel of choice for travellers seeking one-of-a-kind experiences," said Ms Lim.
"IHG has 30 hotels in Thailand and more than 30 in the pipeline, and we are proud to continue working with AWC to grow sustainably over the next few years. As travel returns, we know there are great opportunities for us throughout the country."
The agreement is part of a long-term strategic partnership between IHG and AWC to jointly manage a portfolio of properties across Thailand featuring more than 1,200 rooms, including the 302-room InterContinental Chiang Mai Mae Ping slated to open this year.
Last year two hotels in Bangkok's Chinatown were added to the group's portfolio.