TCC Group, which is controlled by Thai billionaire Charoen Sirivadhanabhakdi, said on Monday it planned to invest more than 23 billion baht ($644 million) through 2020 to build and renovate seven hotels in Thailand under the Marriott brand.
The plan is designed to serve growing demand for tourism and business travellers in Thailand, a centre for international conferences and exhibitions in Southeast Asia, Wallapa Traisorat, president and deputy CEO of TCC Land Asset World, told reporters.
TCC Land Asset World has signed contracts with Marriott International to manage the seven hotels in prime locations in Bangkok and city resorts in Hua Hin, Phuket and Pattaya, Wallapa said.
Of the seven, three luxury hotels will be open later this year, increasing the number of TCC Group hotels to 43 with 10,000 rooms in total, a statement said.
TCC Land Asset World is part of TCC Group, one of Thailand’s leading conglomerates.
Marriott has 16 hotels and resorts with 3,500 rooms in Thailand and the company is aiming to add more than 3,000 rooms to reach 6,500 rooms by 2018, the statement said. ($1 = 35.7100 baht)