InterContinental Hotels Group has announced a strategic partnership real estate group Asset World Corporate to manage a portfolio of properties across Thailand.
The agreement will see the development of more than 1,200 rooms across the country, with hotels in multiple destinations to be signed over the next three years.
Serena Lim, VP, development, IHG South East Asia and Korea, said: “With plans to double our portfolio in Thailand in the next three to five years, this signing today between IHG and AWC is another milestone in realising this ambition. Their reputation as a lifestyle and real-estate group, and long-standing relationship with IHG gives us great confidence of this growth momentum in Thailand.”
The first signing was the 306-room InterContinental Chiang Mai Mae Ping Hotel.
Wallapa Traisorat, CEO & president, Asset World Corp Public Company, said: “With our ambition to make Thailand a truly world-class tourism destination, we are excited to be extending our partnership with IHG, which is a testament to our unique business model of collaborating with an internationally renowned operator. With our shared vision of elevating the hospitality sector in Thailand and thus building a better future for the country’s economy, we are confident that the InterContinental Chiang Mai Mae Ping will be one of the many projects to set the benchmark in Thailand.”
IHG has 29 existing hotels across six brands in the country, with another 30 hotels in the pipeline.