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Thai Hotel Chain Plans 800 Million Baht Expansion.
Byline: Bamrung Amnatcharoenrit
Dec. 3--Royal Garden Resort Plc, the hospitality division of the Minor Group, will spend almost one billion baht to expand its hotel chain over the next two years, despite terrorist threats that could undermine the tourism industry.
The company's portfolio, which already includes nine hotels, will be strengthened by the construction and acquisition of hotel properties on Ko Samui and Chiang Rai.
According to Pratana Manomaiphiboon, Royal Garden Resort's chief financial officer, more than 400 million baht had been set aside for the construction of a "six-star" hotel on Ko Samui. The company is in talks with international hotel chains -- including Four Seasons -- to operate the new establishment, which is scheduled for completion in 2004.
RGR will invest another 300 million baht in the rebranding and refurbishment of another hotel on the island. It will open in 2003 under the name of Anantara.
Meanwhile, in Chang Rai, the firm will spend 100 million baht on a 20-room hotel. The new hotel will be built next to the Baan Boran, a five-star hotel located in the Golden Triangle that will also undergo a revamp.
Royal Garden Resort paid 145 million baht for the property earlier this year and now plans to spend 120 million baht converting it from a 110-room to a 90-room ...
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