NOVA Asset Management brings Bangkok First PARKROYAL

Real Estate Press Releases Tuesday December 11, 2018 14:39
Bangkok--11 Dec--NOVA ASSET MANAGEMENT

Pan Pacific Hotels Group has signed its first PARKROYAL Serviced Suites in Bangkok, Thailand with Phachara Suites Co. Ltd. PARKROYAL Suites Bangkok will be opening in Q2 2019 in Bangkok, Thailand. This will be Pan Pacific Hotels Group's first property in the market.

PARKROYAL Suites Bangkok will join the Pan Pacific Hotels Group's portfolio of serviced suites in Singapore, Kuala Lumpur, Ningbo and soon to open in Jakarta and Johor, strengthening the Group's footprint and offerings in this accommodation category.

The 194-unit PARKROYAL Suites Bangkok is located at Sukhumvit Soi 6, a prime location off Sukhumvit Road and only a few minutes walk from Nana BTS skytrain station.

Nana BTS station is a 6-minute train ride to the retail heart of Bangkok. This is where one can find the widest selection of fashionable shops and restaurants in upscale malls such as Siam Paragon, Central World, EmQuartier and Emporium – all easily accessible by elevated walkways from Siam BTS station.

PARKROYAL Suites Bangkok will be a conversion from the current Phachara Suites and will undergo a thorough refurbishment to meet the brand standards and offerings that PARKROYAL guests are familiar with. When it reopens, the property will offer 194 thoughtfully-designed and spacious suites, featuring Executive Studios (50 square metres) and Two-Bedroom Executive units (130 square metres), which are popular with both solo and family travellers.

PARKROYAL Suites Bangkok features all-day dining restaurant, meeting facilities, fitness facilities including a semi outdoor and indoor pool.

Phachara Suites' owner advised by its asset management company, NOVA Asset management, said "We're delighted to own the first PARKROYAL-branded property in Bangkok. We love the energy of the brand, which resonates with this city of a thousand smiles. The PARKROYAL brand is about warm and passionate people who genuinely care for others, and to us, this is key to helping our guests feel a sense of belonging. The rebranding to PARKROYAL will breathe new life into the property, and we're excited to see PARKROYAL Suites Bangkok grow into one of the most people-centric places to stay in Bangkok."

Lothar Nessmann, Chief Executive Officer, Pan Pacific Hotels Group, said, "PARKROYAL is rapidly growing in Southeast Asia – besides Singapore, we operate properties in capital cities such as Kuala Lumpur, Yangon, and Ho Chi Minh, along with planned openings in Jakarta. We are excited to see the popularity of our brand, which is all about our people and the real connections they forge with our guests. It's great to return to this city, where we once operated a hugely-successful Pan Pacific serviced suites product, and look forward to creating more joyful experiences for travellers to Bangkok."


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