Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has signed a management agreement with Pioneer Property Company Limited (PPC), a Bangkok-based real estate firm, for a new Hyatt Place hotel to be located in the heart of the Thai capital. Scheduled to open in 2017, Hyatt Place Bangkok, Sukhumvit will join the recently announced Hyatt Regency Bangkok, Sukhumvit, which is also expected to open in 2017, and Park Hyatt Bangkok, which is expected to open in 2014. The introduction of the Park Hyatt, Hyatt Regency and Hyatt Place brands further reaffirms Hyatt’s continued commitment to Thailand. There are currently two Hyatt-branded hotels in Thailand – Grand Hyatt Erawan Bangkok and Hyatt Regency Hua Hin.
“As the capital, principal city and economic center of Thailand, Bangkok is strategically important for both business and leisure travelers and we are grateful to have the opportunity to introduce Hyatt Place to this part of the world,” said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific, Hyatt Hotels and Resorts. “Hyatt Place is a well-recognized and successful brand in the United States, and it is known for delivering a consistent upscale select service experience. The introduction of the Hyatt Place brand in Bangkok represents an integral stepping-stone in the company’s development in this prime market and gives us an opportunity to further strengthen Hyatt’s commitment to expanding its brands in markets where guests are increasingly traveling.”
Hyatt Place offers a fresh and friendly stay experience, ideal for the multi-tasking business travelers as well as for leisure travelers and families. Hyatt Place features are based on extensive consumer research and insight into the way the brand’s target market lives and travels offering a tailored level of comfort and service.
“As an upscale select service hotel, Hyatt Place Bangkok, Sukhumvit will allow us to appeal to the growing number of domestic and international travelers to Bangkok,” said Pravina Srisakulchawla of Pioneer Property Company Limited. “While some visitors vacation in Bangkok, many travel for business and often choose to extend their stay. We wish to appeal to both these groups, and this development confirms our position to do so.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV