Central Pattana’s 10 billion baht investment in 37 new hotels

Central Pattana is launching 37 hotels in 27 provinces in Thailand with 4,000 rooms, valued at a total of 10 billion baht, under the Centara Hotels and Resorts brand.

The kingdom’s largest retail property development and investment company aims to hire about 3,900 people across the country in the process. The company will focus primarily on second-tier locations, as it plans to expand beyond big cities, says CPN president and chief executive, Wallaya Chirathivat.

All of the new hotels will include 25 properties in the premium budget segment known as Go!, 8 Centara One hotels in the midscale market, and four under the luxury Centara name. The Centara Korat, a 218-room hotel, will be the first to open in September this year.

CPN’s five year investment plan, which concludes in 2026, intend to make use of the prime locations and include offices, retail spaces, and real estate within one property.

It will boost their retail-led mixed-use projects, as hotels will be a fundamental component of every CPN project. Currently, 10 hotels in Chiang Rai, Chon Buri, Rayong, Ayutthaya, Korat, Ubon Ratchathani and Si Racha, are scheduled and will be completed in 2 years.

After 30 million domestic trips were reported in April, CPN is confident in domestic tourism’s revival. Before the Covid-19 outbreak, there was a total of 38 million local tourists during the same period, according to the head of hotel properties at CPN, Phoom Chirathivat.

SOURCE: Bangkok Post