CPN has invested 10 billion baht to open 37 new hotels till 2026.

Category: Real Estate

Editorial Team

CPN has invested 10 billion baht to open 37 new hotels till 2026.

Central Pattana Plc (CPN), the SET-listed property and retail developer, has spent 10 billion baht opening 37 new hotels in 27 provinces nationwide via the five-year investment plan, even as economic uncertainties engulfed by high inflation and energy cost.

CENTARA KORAT

Its investment has lasted from 2022 to 2026 in order to achieve more than 4,000 rooms in total. Under the plan, all 37 hotels will be managed by Centara Hotels and Resorts. On 13th September, CPN opened officially Centara Korat Hotel, and plans to open a new one in Ubon Ratchathani by the end of this year.

Surang Jirattigalachote, head of CPN’s hotel development, said Korat is the first province in which CPN has completed three parts of a large mixed-use project comprising Central Korat shopping center, Centara Korat Hotel, and ESCENT Korat condominium phase 1 and 2.

CENTARA KORAT

“Central Pattana’s hotel business development sees opportunities to build high standard hotels and complement the ‘Travel ecosystem’ of cities and province where we are located - as we announced in our five-year business plan to develop a total of 37 hotels in 27 provinces, supplying more than 4,000 rooms by 2026,” Surang said.

Thirayuth Chirathivat, chief executive officer of Centara Hotels & Resorts, said the collaboration between Centara and CPN is a natural synergy given the two firms share the same vision to realize the potential of Korat as the centre of the region and gateway to Isan. This will help strengthen Centara Korat Hotel to become the number one destination hotel of the province for all travelling purpose both business and leisure, attracting local and foreign travelers.

CENTARA KORAT

Centara Korat Hotel will also help fulfil the province ambition to be ‘Korat MICE City’. The 217-room hotel has offered comprehensive meeting facilities with a total combined area of 1,000 square meters to accommodate up to 1,000 people. Since the opening of Centara Korat (August 25, 2022), the firm said regional events have been held continuously every week, with at least 300 attendees per event.

Although Thailand’s tourism industry has showed a sign of recovery, but Thirayuth remained worried about its outlook, especially existing barriers like skilled labor shortage, inflation and higher energy cost which are viewed a threat to the industry.