Grand Asset Launches New Hotel 'Hyatt Regency Sukhumvit' at the End of October

Along with the Upcoming Sales of 'Hyde Heritage Thonglor' Condos

Grand Asset is set to open its new hotel 'Hyatt Regency Sukhumvit' at the end of October, appointing a new hotel executive to strengthen operations and aiming for hotel revenue to reach 3 billion baht next year. Meanwhile, the condominium project in collaboration with Japan, 'Hyde Heritage Thonglor', is scheduled for sales launch in November, starting at 9 million baht.

 

Mr. Witthawat Wipakool, CEO of Grand Asset Hotels and Property Public Company Limited, revealed the company's movements in both the hotel and real estate sectors, stating that at the end of October, the company will commence operations of its new hotel, 'Hyatt Regency Bangkok Sukhumvit'. The hotel, valued at 3.5 billion baht, features 273 rooms and is located in the city center on Sukhumvit Road, adjacent to the BTS Nana station. It will be the first Hyatt Regency hotel in Bangkok, catering to both business and leisure travelers.

 

“The opening of the new Hyatt Regency Bangkok Sukhumvit, combined with the acquisition of the Royal Orchid Sheraton Hotel and Towers this year, will significantly boost Grand Asset's hotel revenue and net profit. We anticipate hotel revenue to increase to 3 billion baht in 2022. Additionally, the company has appointed Mr. Lothar Richard Pehl, an experienced hotel management and development expert, as a new director to enhance strategic management and drive revenue growth, particularly in expanding the customer base in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector. Mr. Pehl has worked with Starwood for over 18 years, managing hotels in the Asia-Pacific region and Thailand, and most recently served as Vice President of Marriott International.”

Currently, Grand Asset operates a total of 5 hotels with 1,655 rooms, including The Westin Grand Sukhumvit (362 rooms), Sheraton Hua Hin Resort and Spa (240 rooms), Sheraton Hua Hin Pranburi Villas (54 rooms), Royal Orchid Sheraton (726 rooms), and Hyatt Regency Bangkok Sukhumvit (273 rooms). Additionally, there is a mixed-use project under construction in Rayong valued at 6 billion baht, consisting of a hotel with 209 rooms and residential projects in the form of villas and condominiums to accommodate both Thai and foreign tourists and investors in the Eastern Economic Corridor (EEC).

 Regarding the collaboration with Sumitomo Forestry on the project 'Hyde Heritage Thonglor', valued at over 6 billion baht, sales are set to launch at the end of November. This 45-story condominium will feature 311 units with 100% parking availability, with an average selling price of 290,000 baht per square meter, and will debut with special pricing starting at 9 million baht. CBRE will manage the sales for the project, which is part of a collaboration to develop a high-end condominium project along the Chao Phraya River on Charoen Nakhon Road, covering over 8 rai and valued at approximately 10 billion baht, with plans to launch and begin construction in 2022.

 

Thank you for the information from www.grandeasset.com