NEW WORLD’S MOVE INTO BANGKOK SIGNALS NEW EXPANSION PHASE FOR HOTELIER

New World Hotels and Resorts is expanding its Asian presence with a move into the Thai market. The group has signed a long-term deal with Thai real estate developer Grand Canal Land to manage the New World Grand Rama 9, Bangkok Hotel.

The deal is the latest addition to New World’s existing portfolio in mainland China, Vietnam and the Philippines. Scheduled to open mid-2017, the 285-room hotel will be an integral component of the Grand Rama 9 development in an emerging business and finance district near the Phra Ram 9 MRT station and the Stock Exchange of Thailand.

The hotel’s design will be led by Bangkok-based A49 while Singapore’s White Jacket will handle the interiors. Sonia Cheng, chief executive of Rosewood Hotel Group, New World’s parent company, said Bangkok was an important strategic expansion.