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January 31, 2013

Marriott signs deal to manage seven TCC Hotels properties

Marriott International, a US-based hospitality company, has signed an agreement with TCC Hotels to manage seven TCC properties across Thailand.

By admin-demo

TCC

Marriott International, a US-based hospitality company, has signed an agreement with TCC Hotels to manage seven TCC properties across Thailand.

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The seven hotels to be operated by Marriott are The Imperial Queen’S Park Hotel, Bangkok; Imperial Adamas Phuket Beach Resort; HuaHin Marriott Resort & Spa; Pattaya Marriott Resort & Spa, Jomtien Beach; JW Marriott Pattaya Resort & Spa; Marriott Hotel and Executive Apartments, Bangkok Surawong; and The Ritz-Carlton, Bangkok.

The existing Imperial Queen’s Park Hotel in Bangkok will be rebranded as Bangkok Marriott Hotel Queen’s Park, while Imperial Adamas Phuket Beach Resort will open as Phuket Marriott Resort & Spa, Nai Yang Beach in 2016.

TCC plans to invest around $500m on the seven hotels, which includes a rebranding and refurbishment programme.

With this agreement, Marriott will add another 3,000 rooms to its existing portfolio of 3,110 rooms in 12 hotels across the country.

Marriott International Asia Pacific president and managing director Simon Cooper said the addition of seven TCC hotels will expand Marriott’s portfolio of hotels in Thailand, which is an important business and leisure destination in South East Asia.

"Managing this portfolio of TCC hotels in the country will allow us to extend our product offering and brands in Thailand, and enable domestic and international travellers to experience our hotels and world-class service," Cooper added.

TCC Hotels president Wallapa Traisorat said, "We are very excited to be working together with Marriott International, an experienced global operator, to support our growth strategy and our confidence in both tourism and MICE business sectors of Thailand."


Image: Marriott International Asia-Pacific president and managing director Simon Cooper shakes hands with TCC Group chairman Charoen Sirivadhanabhakdi following the signing of the agreement in the presence of officials from both companies. Photo courtesy of Marriott International, Inc.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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