TCC Land budgets Bt74.2 bn for new hotels through 2022
- Filed under News
- Posted on Friday, 04 March 2016 07:55
- By Zac Erawan
Investments to the tune of Bt74.2 billion will be made by TCC Land Asset World Co to develop new hotels in Thailand by 2022, according to company CEO Soammapat Traisorat.
The massive investment is expected to lift the company’s hospitality income to 60 per cent of its overall revenue, he said, adding that the remaining revenue will be realized from retail and office space.
Stating that TCC Land had evolved plans to make an aggressive investment in the field of hospitality, envisaging Thailand to become a vital regional travel hub, he said, however, there were no plans to go in for expansion in the residential market.
Four new hotels, whose affairs will be looked after by Marriott International Group, will be developed at a total cost of about Bt14 billion, deputy CEO Wallapa Traisorat said. Three of those will are scheduled to launch this year and are the Hua Hun Marriott Resort & Spa, which opened this week, Phuket Marriott Resort and Spa opening on April 9, and Bangkok Marriott Queen Park Sukhumvit opening in July.
Read the full article here:
TCC Land budgets Bt74.2 bn for new hotels through 2022 – The Nation
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Zac Erawan
Owner at NewThaiHotels
Hotel Otaku. Hotel reviewer. Aspiring photographer. Xenodocheionologist.
Zac fuses his lifelong passions for 1. Beautiful Hotels & Resorts, 2. Thailand and 3. Website Design to bring NewThaiHotels to life, sharing the latest information on new and exciting luxury hotel openings in stunning tropical Thailand.
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