Investors to pump 40 billion baht into Pattaya’s tourism sector
Investors are set to inject 40 billion baht into Pattaya, focusing on new hotels and attractions to enhance tourism.
On Wednesday, January 29, Wallaya Traisorat, CEO and President of Asset World Corporation (AWC) announced the opening of Meliá Pattaya Hotel, a 234-room property with an investment exceeding 2 billion baht. This hotel targets workcation travellers, digital nomads, meetings, incentives, conferences and exhibitions (MICE) visitors, young lifestyle seekers, and luxury tourists desiring premium stays.
Meliá Pattaya is part of AWC’s Lifestyle Destination development plan, featuring the flagship Aquatique Destination Pattaya between Soi 6 and the Hard Rock, located between Beach Road and Second Road, along with six other hotels.
The overall project involves a total investment of more than 30 billion baht, aiming to elevate Pattaya as a leading seaside tourist destination and reinforce Thailand’s role as a sustainable tourism hub globally. Wallaya mentioned that AWC’s hotels have experienced increased occupancy rates and room prices due to the tourism resurgence.
Archwin Asavapokin, Deputy Managing Director and CFO of Land & Houses (LH) shared that the company currently manages seven hotels valued at 14.7 billion baht. Six of these have been transferred to a real estate investment trust (REIT), with three more under development.
Upcoming projects include the 50-storey Grande Centre Point Lumpini on Rama IV Road, opposite One Bangkok. This mixed-use development, valued at 4.8 billion baht, will feature 12,700 square metres of office space and a 512-room hotel, set to open on April 1.
Grande Centre Point Ratchadamri 2, previously the Peninsula Plaza, will offer 509 rooms with a 4.6 billion baht investment, opening in the first quarter of 2026. Grande Centre Point Pattaya 3, a 494-room hotel with a 4.3 billion baht investment, is slated to open in the first quarter of 2027 in Naklua. Each hotel will feature approximately 500 rooms.
Archwin explained the company’s strategy.
“After three years of operation, we plan to transfer these hotels to a REIT and use the funds to develop new projects and expand our portfolio.
“Our focus on Pattaya, with three new hotels, is because it offers year-round tourism for all people regardless of ages, unlike Phuket, where tourism is seasonal.”
Reports also suggest that Land & Houses is planning a fourth hotel in Pattaya, near Grande Centre Point Space Pattaya, with an estimated investment of 4 to 5 billion baht, reported The Pattaya News.
Latest Thailand News
