Bankok-based real estate developer Country Group Development is working on a new Capella property.
The Capella Bangkok is expected to open in 2018, and will be the first Capella hotel in the city. Once open, the property will have 101 guest suites and river villas, and will include a bar, two restaurants and a riverfront ballroom two built-in function rooms.
The property is being built as part of a larger luxury residential and hotel development in Bangkok known as the Chao Phraya Estate, which is also being built by Country Group Development. Capella Bangkok is one of two international ventures under construction in the development. The total development space of the Chao Phraya Estate will be spread across 14 acres on the east bank of the River of Kings, and is being built for an estimated $918 million.
Last year, hotel transactions in Bangkok accounted for nearly 50 percent of the full volume of hotel sales in Thailand, though investment volume to the city fell 15 percent over the year prior due to the lack of large assets available for sale.
“We are delighted to announce Capella Bangkok as one of three new properties to be launched in Asia within the next 15 months," Nicholas Clayton, CEO of Capella Hotel Group Asia, said in a statement. "Capella Shanghai will open in late spring 2017, Capella Ubud follows in the autumn and Capella Bangkok will welcome guests in summer 2018.”