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PussyLover 69
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Report from Bangkok Post dated Saturday 27 October 2007 :-
Holiday Inn Express prepares for first Bangkok site
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The InterContinental Hotels Group (IHG) is preparing to introduce its Holiday Inn Express brand in Bangkok next year. The mid-market hotel will be located in central Bangkok with more than 200 rooms at rack rates starting at 2,100 baht per night.
The launch follows the successful development of Holiday Inn Express in China, said Athipong Amatyakul, the director for Thailand development at IHG, adding that the brand would be introduced in Singapore next year.
He said Thailand's mid-priced hotel market was growing rapidly because of high returns on investment and relatively low investment cost at around US$40,000 per room, excluding land prices.
The company also plans to expand the Holiday Inn Express brand to Phuket, Pattaya, Cha-am, Surat Thani and Hua Hin after launching the Bangkok hotel, Mr Athipong said.
Holiday Inn Express worldwide has 1,741 hotels with 150,004 rooms and another 619 hotels in the pipeline.In addition to the Holiday Inn Express brand, IHG also has management contracts for three recently completed properties: the InterContinental Resort Hun Hin with 126 rooms, a Holiday Inn in Pattaya and the Crowne Plaza Sukhumvit 23. The properties belong to Thai and foreign joint ventures.
Brian Connelly, the regional general manager in Bangkok for IHG, said the company had also invested $20 million in the InterContinental Bangkok to increase competitiveness and support the meeting, incentive, convention and exhibition (Mice) industry that is growing by 20% to 30% annually.
Mr Connelly expects that after a refurbishment, the occupancy rate at the Ratchaprasong intersection flagship will rise to 85% from 75% currently. The hotel's market base includes group tourists, corporate and Mice travellers.
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Posted on: 2:26 am on Oct. 27, 2007
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