Marriott Inks Thai 4 Hotel Mega-Deal
Global hospitality giant Marriott International has sealed a deal for four new hotels in Bangkok and Pattaya with TCC’s Asset World Corporation (AWC).
Three of the hotels are clustered in Bangkok at the massive riverside Asiatique development which will include a JW Marriott Marquis, Ritz-Carlton Reserve and Autograph Collection.
While in Pattaya, an Autograph Collection property will be located at the Asiatique Beachfront.
AWC made recent news it a deal that is being finalized with IFC (International Finance Corporation) for a THB4.5 billion green loan.
The loan proceeds will be used to fund energy efficiency in four existing hotels and two greenfield projects.
Despite the ongoing pandemic, investment confidence remains solid in Thailand’s long-term tourism prospects as can be seen by continued investment into large-scale mixed use project that include hotels.