Thailand: ERAWAN informs acquisitions of lands for development of first 3 Ibis hotels.

(From Thai Press Reports)

Section: SET Filing - The Erawan Group Public Company Limited ("The Company") has entered into Sale and Purchase agreements to acquire lands which will be the sites for its first 3 Ibis hotels. This is a part of the Company's plan to diversify its hotel portfolio into the economy segment with an objective of adding 10 Ibis hotels by 2010. Details of the first 3 Ibis hotels to be developed are as follows: Ibis Sathorn Bangkok : 210 rooms on a 1.5-rai plot of land on Sathorn Soi 1 under a 30-year lease agreement. The lessor has no relationship with the Company and its subsidiaries. This Ibis hotel will target budget travellers with its location …