IHG signs for eight Thai properties with Ratanakorn Asset

IHG signs for eight Thai properties with Ratanakorn Asset

InterContinental Hotels Groups has announced the signing of eight new properties in Thailand’s key resort destinations of Pattaya, Rayong, Phuket, Khao Lak and Koh Samui.

The multi-brand signing, consisting of new-builds and a conversion across the Holiday Inn, Holiday Inn Express and Staybridge Suites brands, will add more than 2,000 rooms and ramp up IHG’s presence in the country.

Thailand already boasts the group’s largest system size in the region.

The hotels are set to open from this year to 2027.

The deal will be implemented in partnership with Ratanakorn Asset.

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Clarence Tan, managing director, south-east Asia and Korea, IHG, commented: “As a top travel destination for business and leisure alike, Thailand has always been an important market for us, serving as the regional launch pad for some of our key brands including Holiday Inn Express, Hotel Indigo and Staybridge Suites.

“Together with our partner, Ratanakorn Asset, we are excited to strengthen our presence here with three of our most recognised and well-loved brands.

“Following the inaugural signing of Staybridge Suites in Bangkok last December, these latest additions will build on our growth momentum in the country and in our resort portfolio - a testament to our steadfast commitment to provide our guests with world-class accommodation, in some of the world’s best resort locations.” 

Ratanakorn Asset is a well-established Thai real estate company with properties exceeding THB30,000 million in worth, located mainly in Pattaya, Chonburi and Rayong.

In addition to the eight upcoming IHG developments, its extensive portfolio includes residential, commercial, industrial and retail projects.

Niti Ruangratanakorn, president, Ratanakorn Asset, said: “Recognising the Thai government’s Eastern Economic Corridor project is set to fuel growth across many industries, including tourism, we took a very strategic approach at selecting, not only the location of these new developments, but the international hotel brand with which we would partner to make bolstering our hospitality portfolio here in Thailand a success.

“Globally recognised for its track record, IHG is our ideal partner given its vision to build great brands guests love, placing us in good stead to meet the increasing demand for quality accommodation in these cities.

“We look forward to working closely with IHG to forge an exciting future ahead, and are certain the compelling brand offerings, combined with the stellar locations we have selected, will be well-received when we open our doors in the coming years.”