IHG Makes New Partnership, To Lead To Major Portfolio Expansion

InterContinental Hotels Group, one of the world’s biggest hospitality companies, has recently solidified a partnership with Thailand development company, Ratanakorn Asset, which will lead to the opening of a holiday inn suites in Rayong to be followed by more, as part of the company’s expansion  in Thailand.

This signing will lead to the operation of eight new properties in key destinations across Thailand, with new holiday inn suites in Rayong, Pattaya, Phuket,Khao Lak and Koh Samui. The signing will consist of eight properties across several of IHG’s brands, mostly new properties with one conversion, split amongst the Holiday Inn, Holiday Inn Express, and Staybridge Suites brands, which will increase IHG’s portfolio in Thailand by at least 2,000 rooms. The new properties will begin operation, one following the other, starting from 2018.

Managing Director South East Asia and Korea, IHG, Clarence Tan says that Thailand has always been a key market for IHG, having served as the launch pad for several of the group’s key brands, including the Holiday Inn Express, Hotel Indigo and Staybridge Suites brands.  He says that IHG is excited to strengthen their presence in Thailand with three of their most popular brands with the cooperation of Ratanakorn Asset.

Ratanakorn Asset is a Pattaya-based real estate company, which has worked on properties valued at more than THB30 billion, primarily located at Pattaya, Chonburi and Rayong. The developer’s portfolio includes commercial, industrial, residential and retail projects, to be joined by the eight upcoming IHG developments.

Ratanakorn Asset’s President NitiRuangratanakorn says that they see IHG’s partnership with them will bolster their portfolio in Thailand. This was a decision, he says, they made with careful consideration of the economic condition of the Eastern Economic Corridor, which the Thai government have been working to promote. He says that IHG’s prestige across the world makes them the ideal partner for the development company. They expect that this partnership will put them in a good place to meet the increasing demand for accommodation in Thailand, and that they look forward to working with them.

The new properties set to open by 2018 are the Holiday Inn Resort Koh Larn, Holiday Inn Resort Pattaya Na Jomtien, Staybridge Suites North Pattaya, Holiday Inn Resort Rayong, Holiday Inn Resort Khao Lak Cape Pakarang, Holiday Inn Express Phuket Kata, and the Holiday Inn Express Samui Chaweng.