Bangkok--18 May--Bangkok Bank
Bangkok Bank has approved a loan of Baht 1.8 billion for the building of a four-star hotel on Sathon Road next to Surasak BTS station, Bangkok Bank Senior Executive Vice President Chansak Fuangfu said.
The loan, to the property subsidiary of SkyTrain operator Bangkok Transit System Public Company Limited (BTS Group), will fund the building of Four Points by Sheraton Hotel, a 437-key hotel to be managed by Starwood Group. The hotel is the first property development project of BTS Group. BTS Group is also conducting and reviewing a number of feasibility studies on investments in other large-scale property projects.
“The potential of the project and the strength of BTS’s Group are the main factors which encouraged Bangkok Bank to provide the financial support to the company for the construction of the hotel,” said Mr. Chansak.