Oakwood Announces Full Throttle Expansion into Thailand, Preparing to Launch New Project in Sri Racha, Chonburi by the End of 2017
Oakwood Asia Pacific, a subsidiary of Oakwood, is expanding its business in the Thai market. A signing ceremony for a partnership agreement will be held to launch a new hotel in Sri Racha, Chonburi.
The signing ceremony will mark the introduction of a new hotel under the name “Oakwood Hotel & Residence Sri Racha”, operated by VMPC Co., Ltd., a leading comprehensive real estate developer for sales and rentals. Mr. Dean Schreiber, Managing Director of Oakwood Asia Pacific, stated, “We are confident in the potential of the Thai market and aim to expand the Oakwood brand to be more recognized in Thailand. We are particularly excited about this launch as it will be the first hotel in our chain outside of the Bangkok area, located in the heart of Sri Racha, surrounded by major industrial estates such as the Laem Chabang Industrial Estate. We anticipate over 50% occupancy immediately upon opening at the end of 2017.”
Oakwood Hotel & Residence Sri Racha features a total of 458 rooms, divided between hotel accommodations and serviced apartments, along with various amenities such as a swimming pool, a fully equipped fitness center, a game room, a library, a 24-hour supermarket, and large meeting and seminar rooms.
Mr. Parinya Thiarawor, CEO of VMPC Co., Ltd., stated that this project is part of the core business expansion strategy to develop real estate into the hotel business, choosing the Oakwood brand, which is a strong symbol in the Asia Pacific region with a global network, to be our partner brand.
“The reason VMPC chose Sri Racha as the project location is that it has become a major industrial city and is of great interest to large manufacturing companies, leading to significant growth in the luxury hotel and serviced apartment business. We expect Oakwood Hotel & Residence Sri Racha to launch its first phase by the end of this year, following the full operation of the Atara Mall in September this year. Currently, Oakwood Asia Pacific manages two projects in Bangkok and 35 projects in 19 cities across 11 countries in the Asia region.”
Thank you for the information from: Oakwood Hotel & Residence Sri Racha
