Bangkok--16 May--Aziam Burson-Marsteller
The Erawan Group Public Company Limited has entered into a 30-year Land Lease Agreement for a 1.5-rai plot of land in the middle of Sukhumvit Soi 4 (Soi North Nana) to develop its fifth Ibis hotel in Thailand. This project is an integral part of the Company’s strategic plan to diversify its hotel portfolio into the economical, mid-tier segment with a further objective of adding 10 more Ibis hotels by 2009.
The Ibis Nana Bangkok Hotel will have nearly 200 rooms. This Ibis hotel’s main attractiveness is its location - situated in Bangkok’s central business and shopping districts, and just a few minutes walk from the BTS Nana Station. The total investment in this project is approximately Baht 360 million. The hotel is scheduled to open in the fourth quarter of 2008.
Mr. Kasama Punyagupta, President and Chief Executive Officer of The Erawan Group, has expressed his confidence in the success of this project. “This is the fifth Ibis hotel that has been announced by the Company just one year after signing the MOU with Accor group to develop 10 Ibis hotels in Thailand, covering 6 main tourist destinations including Bangkok, Pattaya, Phuket, Samui Island, Chiang Mai and Krabi. We are confident that all 10 Ibis hotels will be opened by the end of 2009. This will be a key growth engine for the Company starting from 2008,” said Mr. Kasama.
About The Erawan Group Plc.
The Erawan Group Plc., listed on the Stock Exchange of Thailand, owns two of Bangkok’s leading 5-star hotels — the Grand Hyatt Erawan Bangkok and the JW Marriott Bangkok — and a 5-star hotel on Koh Samui, now known as the Renaissance Koh Samui Resort & Spa as well as two retail properties: the Erawan Bangkok, and Ploenchit Center.
For information, please contact:
Jamaree Kuptavetin / Duangnead Chivavichvalkul
Aziam Burson-Marsteller
Tel. 0-2252-9871
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