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Bangkok Property – Land and Houses Beef Up Hotel Portfolio

By on Dec 05, 2014 in Hotel-Tourism, Property News

715938SET-listed developer Land and Houses Plc (LH) has announced plans to spend 8.7 billion baht to open five hotels by 2017. The hotel expansion is in line with LH’s business policy of offering mixed-use developments by building new hotels near the company’s existing property projects.

The group will also launch a new budget hotel brand next year.  The first property will be located along a skytrain or subway route.

Despite the effects of this year’s political uncertainty on the overall hotel industry, Grande Centre Point Hospitality is maintaining its 2014 revenue projection of 1.5 billion baht from its eight hotels.

But the management style of Centre Point Hotels is more flexible than that of international chains, allowing more efficient resolutions to negative situations that may crop up and more competitive room rates, he said.

LH shares closed yesterday on the SET at 9.95 baht, unchanged, in trade worth 80.2 million baht.

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