STARWOOD HOTELS & RESORTS EXPANDS PRESENCE IN THAILAND
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Starwood Hotels & Resorts Worldwide announced that it’s Sheraton brand will continue to expand its footprint in Thailand with the signing of Sheraton Samui Resort in Koh Samui, Thailand’s second largest island after Phuket. The agreement with TCC Hotels Group, a member of the TCC Land Group, marks the conversion of the existing 141-room Imperial Samui Beach Resort to a Sheraton, anticipated to take place by December 2014.
“We are pleased to be able to continue the partnership and further strengthen our relationship with TCC Hotels Group, one of the leading developers in Thailand, on this conversion in Koh Samui, a popular resort destination. Sheraton is a global icon, with a strong reputation in key feeder markets for this location, and the hotel will strengthen our growing presence in Thailand,” said Lothar Pehl, Senior Vice President, Operations and Global Initiatives and Regional Vice President, Thailand, Cambodia and Vietnam; and Japan, Korea and Guam, Starwood Hotels & Resorts.
Sheraton Samui Resort marks the seventh property managed by Starwood under the ownership of TCC Hotels Group and is testament to the strength of the relationship. “The expansion and rebranding underscores TCC Hotels Group’s confidence and commitment to the future of Thailand's tourism industry as it continues to embrace the advent of the ASEAN Economic Community in 2015,” highlighted Khun Wallapa Traisorat, President of TCC Hotels Group, a member of the TCC Land Group.
“Starwood has developed a conversion-friendly strategy for existing hotels to meet the demands of owners and guests. With our powerful platforms, we are able to help our partners reposition existing assets in a cost-effective manner. Given that many are well-located but under-branded hotels, they present untapped opportunities for Starwood and is another channel for our growth. Thailand has already seen three conversions in the past few years,” said Matthew Fry, Senior Vice President of Acquisitions & Development, Starwood Hotels & Resorts, Asia Pacific.