A fourth-generation descendent of Thailand's pioneering developer Lert Sreshthaputra, aka Nai Lert, is revitalising the family's legacy in the property business with the development of a luxury hotel and residences under the branded resort Aman.
Naphaporn Bodiratnangkura, one of Mr Lert's great-grandchildren, said the family's business, Nai Lert Group, is carrying on with real estate, one of the group's four main business pillars, after closing down Nai Lert Park Hotel in 2017.
"We actually wanted to build our own hotel chain under the Nai Lert brand, but many told us that the process is gruelling," she said.
"It consumes time and vast amounts of money, and requires at least 10 properties. We then turned to find a partner."
After exploring four hotel brands, Aman ticked all the boxes, said Ms Naphaporn, chief executive of Nai Lert Park Development, one of the group's subsidiaries founded in 2017 for property development.
Naphaporn Bodiratnangkura, chief executive of Nai Lert Park Development Co, Ltd, the fourth generation of Nai Lert Group founded by Lert.
She said Nai Lert and Aman share the same values: nature, heritage, culture, privacy, personal services, history and sense of place.
About 60% of customers at Nai Lert's restaurants are returning customers, while 80% of Aman's hotel guests were repeat visitors.
"Aman has never let other names be included on its property titles except for locations, such as Aman New York," said Ms Naphaporn. "Having Aman in our brand portfolio will allow us to expand globally as Nai Lert will be Googled after we launch the project."
Nai Lert Park Development is scheduled to launch the Aman Nai Lert Bangkok project today, comprising Aman Nai Lert Residences Bangkok and the luxury Aman Nai Lert Bangkok Hotel with an investment of 6 billion baht.
The 36-storey tower will be located on three rai, part of the 20-rai Nai Lert Park on Wireless Road.
The project will include 52 hotel rooms and 42 residential units, estimated to be completed at the end of 2023.
The residential units will have 1-3 bedrooms or 104-371 square metres, with prices starting from 450,000 baht per sq m for a 30-year lease.
Fifteen one-bedroom units will target wealthy young couples, while 10 two-bedroom and 11 three-bedroom units will aim for high net worth families.
The remaining six units will be penthouses sized from 1,109 sq m. The largest will be a duplex penthouse sized 2,200 sq m.
The company will use a customer database for both Nai Lert and Aman to boost sales and expects to have 50% of units sold by the end of the year.
"Thailand will be the most sought after destination for both investment and residences as we have contained the outbreak," she said.
Aman Nai Lert Bangkok project is on three rai in Nai Lert Park. The project will comprise 52 hotel suites.
"Our project will be in demand as a second or third home for the wealthy's property collections."
Aman Nai Lert Bangkok is Ms Naphaporn's first greenfield development. Thrilled to extend Nai Lert's legacy in the property business, the 40-year-old businesswoman was involved in the project from the beginning.
She chose the hotel chain and will supervise construction, do public relations and sales.
Ms Naphaporn learned how to read construction blueprints from her mother, Sanhapit, one of Mr Lert's two granddaughters.
"The project is very challenging for me and the family," she said.
"I aim to develop it to survive and extend our legacy for the next generations of the family."
She named Thanpuying Lursakdi Sampatisiri, her late grandmother, as a role model, because she took over her father's business empire when she was just 26 years old after Nai Lert passed away, making her way in a male-dominated culture.
"I hope the fifth generation will be interested and passionate about this place [Nai Lert Park]," said Ms Naphaporn.
"And passion is not enough. They should also have faith."