Investors - JANUARY 17, 2020

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InterContinental Hotels Group forms Thailand real estate partnership

by Released

InterContinental Hotels Group has formed a partnership with Asset World Corp. (AWC) 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 announced today as the 306-room InterContinental Chiang Mai Mae Ping.

Serena Lim, vice president, development, IHG South East Asia and Korea commented, “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. Their reputation as a lifestyle and real estate group, and long-standing relationship with IHG gives us great confidence of this growth momentum in Thailand.”

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. The first signing of the agreement announced today is the 306-room InterContinental Chiang Mai Mae

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