Langham Hospitality Group (LHG) is set to make a comeback in Thailand after a break of more than 12 years with a 6-billion-baht luxury hotel on the banks of the Chao Phraya River owned by Rabbit Holding, an affiliate of the BTS Group.
Bob van den Oord, chief executive of LHG, said the 78-room Langham, Customs House, has been converted from a heritage building located in Bangkok's Bang Rak district.
Slated for opening in 2026, he said this property would be the first managed hotel for Langham in more than 12 years in Thailand, as it previously managed a luxury hotel in Koh Samui.
He said the room rate should be at the same level as other luxury hotels located along the Chao Phraya River which still have strong demand, such as Four Seasons and Capella.
At present, the average room rates of riverside luxury hotels range from 20,000-30,000 baht per night.
It would also earn income via three restaurants and two bars, which is a strong point for Langham hotels globally.
Mr van den Oord said the group has 32 hotels on four continents, while another 15 projects are in the pipeline.
As well as this inaugural project in Bangkok, the group would also look for expansion in other resort destinations in Thailand, such as Samui and Phuket, and in the new gateway cities in Asia, such as Seoul and Kuala Lumpur, he said.
It aims to have 100 hotels within the 10 next years, with 60-70% in Asia, which would also feature another three brands from the group, namely Cordis Hotels, Eaton Workshop and Ying'nFlo.
He said the target might be achievable earlier, perhaps within the next five years, as it has now secured 50 management deals in China.
As a wholly-owned subsidiary of HKEX-listed Great Eagle Holdings, which is also a property development and investment entity, Mr van den Oord said it is possible the parent company may invest in its own hotels in the South such as in Phuket, noting that no concrete plan has yet been put in place.
Given the sluggish Chinese economy, the group, which has a large number of hotels in China, had also felt the impact as guests are being more cautious about spending due to having limited disposable income.
However, in terms of investment, investors remain interested in building new hotels in China and would like to have the company help manage their properties.