Bangkok Developer Delays Ritz Carlton Residences / Edition Hotel Launch
As a result of this weeks headline grabbing demonstrations in the nation's capital Pace Development have delayed the launch of the much vaunted 70 story mixed use project which includes branded Ritz Carlton Residences and an Edition Hotel by Marriott. The project is a venture between Pace and Israel's Industrial Building Corporation.
The Edition Hotel is to be the first of the brand which sees Marriott partner with legendary boutique/hip hotel creator Ian Schrager. Located in the Sathorn District of Bangkok, the site is near to Starwood W hotel which is a partnership between Thai listed Goldenland and the Middle East investor Istithmar.
High end residential product which relies greatly on overseas investors has been hit hard by the recent political issues facing Thailand and this segment is being watched closely for volatility in the coming months.