CP Land Public Company Limited, or CP LAND, one of Thailand's leading real estate developers, is moving forward with its investment and expansion plans for the Fortune Group hotel chain under CP LAND. The goal is to elevate the standards of all hotel operations, aiming for hotel revenue to reach 1.2 billion baht by 2025, or in three years.

Mr. Kanthir Tirawiphat, CEO of CP Land Public Company Limited, or CP LAND, revealed that the vision and strategy for expanding the Fortune Group hotel business under CP LAND aims for 2025. Currently, the hotel business under CP LAND is showing positive trends, returning to normal growth similar to the past two years, in line with the recovery of the economy and tourism sector as the country reopens. This has resulted in a continuous increase in the number of international tourists. Therefore, CP LAND plans to further expand its hotel business to achieve revenue growth to 1.2 billion baht by 2025, which aligns with the main strategy of all businesses under CP LAND, targeting total revenue of 5 billion baht in the next three years.

Currently, CP LAND has a total of 13 hotels across the country, with total asset value of 4.15 billion baht. In the next three years, CP LAND plans to invest no less than 2 billion baht in hotel business expansion, which includes both acquiring existing hotels and constructing new ones in high-potential locations. The investment is categorized into three hotel groups: Group 1 will consist of at least one hotel with 300-400 rooms, targeting major tourist destinations such as Phuket, Krabi, Chiang Mai, and Phang Nga. Group 2 will include at least two hotels with 150-200 rooms, focusing on Chiang Mai, Pattaya, or secondary tourist provinces that may gain potential according to government policies. Finally, Group 3 will consist of at least 15 hotels with fewer than 79 rooms, targeting Hat Yai, Si Racha, Rayong, Bangkok, Phra Nakhon Si Ayutthaya, Khon Kaen, Udon Thani, and Kanchanaburi. These three groups will guide the hotel business expansion.

“To align with achieving CP LAND's business goals, we consider four main strategies: 1. Management and administration must transition from the old system to a new one; 2. Enhancing the qualifications and capabilities of managers at each hotel through knowledge enhancement, training, and strategic planning with central management; 3. Improving quality and service to ensure products meet high standards; 4. Managing highly capable executives in sales, finance, service, cleanliness, and engineering to maintain quality and stability in backend systems, utilizing Business Intelligence (BI) technology for management,”

“CP LAND places great importance on location, room quality, and service, focusing on elevating the quality of rooms and services, including high-quality beds, good mattresses, smart TV systems, and high-speed internet. The quality of rooms and services, along with various amenities, must meet standards. All of this aims to elevate the quality of rooms and services to differentiate CP LAND hotels from others, which we believe will ensure that our business expansion plan within three years will achieve the revenue target of 1.2 billion baht, in line with the overall plan for the company to grow to 5 billion baht,” Mr. Kanthir stated.