INTERNATIONAL REPORT—InterContinental Hotels Group (IHG) has made a strategic partnership with long-standing partner Asset World Corporate (AWC), Thailand’s integrated lifestyle real-estate group, to manage a portfolio of properties across Thailand. The agreement will see the development of more than 1,200 rooms across Thailand, with the first signing being the 306-room InterContinental Chiang Mai Mae Ping.
“With plans to double our portfolio in Thailand in the next three to five years, this signing today between IHG and AWC is another milestone in realizing this ambition. Its reputation as a lifestyle and real-estate group, and long-standing relationship with IHG, gives us great confidence of this growth momentum in Thailand,” said Serena Lim, VP, development, IHG South East Asia and Korea.
Under the structure of the agreement, hotels in multiple popular destinations such as Chiang Mai, Bangkok and Hua Hin will be signed within three years.
Wallapa Traisorat, president/CEO of AWC, said, “With our ambition to make Thailand a truly world-class tourism destination, we are excited to be extending our partnership with IHG, which is a testament to our unique business model of collaborating with an internationally renowned operator. With our shared vision of elevating the hospitality sector in Thailand and thus building a better future for the country’s economy, we are confident that the InterContinental Chiang Mai Mae Ping will be one of the many projects to set the benchmark in Thailand.”
InterContinental Chiang Mai Mae Ping, a conversion of the Imperial Mae Ping Hotel, has long been in the forefront of Chiang Mai’s hospitality scene throughout its more than 30 years of operation. The hotel has held many high-profile international events, as well as welcoming many prominent guests, including royal family members, heads of state and celebrities from across the world. The hotel will portray the Lanna era with a modern luxury essence. The hotel is expected to open in 2021 and will continue its extension with full operations in 2022.
Located in downtown Chiangmai near the Chiang Mai Night Bazaar, Tha-Pae Gate, Warorot Market and other tourist attractions, InterContinental Chiang Mai Mae Ping will cater for both leisure and MICE travelers with its six food and beverage outlets and more than 38,750 sq. ft. of outdoor and indoor convention, event and meeting spaces. The property also has the Lanna Spa, which focuses on balancing the body and mind with spa services accompanied by traditional and fusion Lanna cuisine. The Teresa Teng Museum, which is currently located on the 15th floor suite of the hotel to commemorate the famous Taiwanese singer and cultural icon, will be conserved, with plans to convert it to a specialty restaurant and rooftop bar, where guests can experience its original setup, decor and furniture when Teresa Teng last stayed more than two decades ago.
Thailand continues to be a strong growth market for IHG with 29 existing hotels across six brands in the portfolio, with another 30 hotels in the pipeline.