AWC investing Hotel Plaza Athénée New York

Editorial Staff

AWC continues to enhance long-term growth, investing in Hotel Plaza Athénée New York

Asset World Corp Public Company Limited (AWC) signs an agreement to invest in Hotel Plaza Athénée New York following approval from the extraordinary general meeting of shareholders, enhancing AWC’s brand value among ultra-luxury customers globally

Hotel Plaza Athénée New York

A flexible investment model that supports AWC’s growth-led strategy by acquiring 18% of shares with the call option to acquire the remaining 82% within 10 years, with no burden on its balance sheet and increasing the return on investment

Gives AWC the right to use the Plaza Athénée brand in the U.S. and Thailand without additional cost, increasing AWC’s brand value through the growth of Plaza Athénée. AWC can also use the Plaza Athénée brand for other projects, generating long-term revenue

AWC, Thailand’s leading integrated lifestyle real estate group, received approval at an extraordinary general meeting of shareholders to acquire the shares of Hotel Plaza Athénée New York. The property is a freehold asset located in the heartof Manhattan, one of the world’s top destinations, and recognized as one of New York City's best hotels for almost a century.

The 7.78 billion baht acquisition gives AWC ownership of the ultra-luxury Plaza Athénée brand in the U.S. and Thailand, connecting two iconic heritage buildings– the Hotel Plaza Athénée New York and EAC (East Asiatic Company) building in Bangkok, which will serve as the reception for AWC's "River Journey Project" by the Chao Phraya River to promote river tourism in Thailand.

Mrs. Wallapa Traisorat, chief executive officer and president, AWC, said the acquisition includes the ownership rights of the world’s leading luxury brand 'Plaza Athénée', synergizing two flagship properties in the U.S. and Thailand. Inaddition, AWC’s partnership with Nobu Hospitality todevelop iconic hotels – Plaza Athénée Nobu Hotel and Spa New York and The Plaza Athénée Nobu Hotel and Spa Bangkok – will expand our ultra-luxury client base, while strengthening AWC’s brand value globally.

Under the agreement, AWC will invest 7.78 billion baht in Hotel Plaza Athénée New York and townhouse building, and includes the ownership rights of the ‘Plaza Athénée’ brand in the U.S. and Thailandwithout any additional cost.

AWC will first acquire 18% of the shares in Hotel Plaza Athénée New York at a value of 1.40 billion baht and will acquire the remaining shares (call option) of 82% within 10 years.