UHG announces 3.1 billion baht investment in new Thai hotel developments

Picture courtesy of Bangkok Post

UHG, a prominent developer of hotels and offices, has announced plans to invest 3.1 billion baht in the construction of two new hotels in Ramkhamhaeng and Phaya Thai. The investment supports UHG’s strategy to capitalise on the potential of these areas and cater to the high demand experienced by its nearby hotels.

Wutthiphon Taworntawat, the managing director, highlighted the strategic locations of the new projects. He pointed out that the recently completed Orange Line enhances the appeal of Ramkhamhaeng, while Phaya Thai is rapidly emerging as a prime area with numerous luxury developments.

“Construction of the Orange Line, running along Ramkhamhaeng Road, will soon be operational. The Phaya Thai area has seen a surge in new development projects, particularly luxury ones, with many more planned.”

Earlier this year, UHG secured a lease for a one-rai plot on Phaya Thai Road, close to the Baan Pathumwan Condominium. With an investment of 600 million baht, the company will develop an eight-storey, 200-room hotel targeting the mid-tier segment, given that other nearby hotels cater predominantly to the higher-end market.

The upcoming hotel will feature a ground-floor coffee shop, which will transform into a bar in the evenings, capitalising on the area’s vibrant nightlife. Construction is due to begin next year, with completion expected by 2026, reported Bangkok Post.

“This hotel will cater to guests who may be overbooked at our nearby hotels, including The Quarter Ratchathewi, and Evergreen Place Siam.”

The Quarter Ratchathewi, an eight-storey hotel with 99 rooms, is scheduled to open on October 24. Located near the Ratchathewi Skytrain station, Evergreen Place Siam frequently reaches full occupancy during events such as concerts at Siam Paragon.

In addition to a 338-room hotel, the Ramkhamhaeng Soi 12 project will also offer rental office spaces spanning 10,000 square metres and a retail area of 1,500 square metres. The total investment for this project is 2.5 billion baht.

Last month, UHG launched a 20-storey office tower with a lettable area of 10,000 square metres at Sukhumvit Hills, a mixed-use project near the Bang Chak Skytrain station. This development also includes a seven-storey hotel with 90 rooms that opened last year.

“The hotel had an occupancy rate of 90%. There has been no impact from the Siam Paragon shooting so far.”

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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