• AWC has signed an agreement to acquire shares in Hotel Plaza Athenee New York today after receiving approval from the extraordinary general meeting of shareholders (E-EGM) to enhance the brand value of AWC to the ultra-luxury customer segment both domestically and internationally.
  • The investment model meets AWC's growth objectives by acquiring 18% of the shares with the option to purchase the remaining 82% within 10 years (Call Option), providing AWC with flexibility in the investment period without incurring debt during the development phase, thus increasing the return on investment.
  • AWC gains ownership rights to the Plaza Athenee brand in the United States and Thailand without incurring costs, benefiting from the growth in brand value following the commencement of operations. AWC can leverage the Plaza Athenee brand for other projects to generate long-term revenue.
  • Creating synergy value by enhancing AWC's portfolio and integrating the Plaza Athenee brand into the River Journey Project, with The Plaza Athenee Nobu Hotel and Spa Bangkok serving as a connection point for various projects along the Chao Phraya River, creating a new dimension in the industry through these two valuable assets in the two global cities of Bangkok and New York.

Asset World Corporation Public Company Limited (AWC), a Thai real estate developer focused on comprehensive lifestyle solutions, has received approval from the extraordinary general meeting of shareholders (E-EGM) for the acquisition of shares in Hotel Plaza Athenee New York, a historically significant property located in the heart of Manhattan, a global destination, and one of the best hotels in New York City for nearly a century, with an acquisition value of 7.789 billion baht. AWC also gains ownership rights to the ultra-luxury brand Plaza Athenee in the United States and Thailand, connecting two historically valuable projects in New York City and the EAC (East Asiatic Company) building in Bangkok, which is the starting point and hub of AWC's River Journey Project, further strengthening Thailand's tourism along the waterways.

Naowalapa Traisorat, CEO and Managing Director of Asset World Corporation Public Company Limited (AWC), stated, "AWC thanks the shareholders for their confidence in AWC and for approving the acquisition of shares in Hotel Plaza Athenee New York, a leading global freehold asset located in the heart of Manhattan, New York City, a world-class destination, along with ownership rights to the world-class brand 'Plaza Athenee' through the connection of two flagship projects in the United States and Thailand. Additionally, with a leading global partner like Nobu Hospitality developing iconic hotels, both Plaza Athenee Nobu Hotel and Spa New York and The Plaza Athenee Nobu Hotel and Spa Bangkok, will help expand the ultra-luxury customer base and strengthen AWC's brand recognition both domestically and internationally. This investment will promote growth and create long-term value for AWC. With AWC's expertise as a real estate developer focused on value creation, comprehensive lifestyle solutions, and experience collaborating with numerous leading global partners, combined with the strengths and expertise of the Nobu brand, AWC believes this investment will create a new dimension for the hotel and tourism industry and support the development of an ultra-luxury tourism destination."

AWC is moving forward with the investment in Hotel Plaza Athenee New York, totaling 7.789 billion baht, which includes freehold ownership of Hotel Plaza Athenee New York and townhouse, and has ownership rights to the Plaza Athenee brand in the United States and Thailand without incurring costs. AWC will initially acquire 18% of the shares in Hotel Plaza Athenee New York for 1.402 billion baht, with the option to purchase the remaining 82% within 10 years, representing a flexible investment model that meets AWC's rapid growth objectives, similar to the AWC Growth Fund. This structure does not burden the company's balance sheet during development and allows for limited investment risk while benefiting from full profits from development and the increased brand value of Plaza Athenee after operations commence, generating additional revenue for other projects in the long term.

“This investment by AWC creates synergy value by enhancing AWC's portfolio model through the development of two iconic hotels: Plaza Athenee Nobu Hotel and Spa New York and The Plaza Athenee Nobu Hotel and Spa Bangkok, which serve as the reception point and hub connecting various projects along the Chao Phraya River under the River Journey Project concept, creating an ultra-luxury experience and representing a new dimension in the industry through these two valuable assets in two global cities, Bangkok and New York,” Naowalapa added.