SIAM@SIAM has inked a deal to operate the 200-room Mode Sathorn Hotel in Bangkok next April, the second property to come under its management.
Siam@Siam managing director, Kla Kitchakarn, said he was confident the hotel’s strategic location in the prime business area of Sathorn Road would allow it to command an average daily rate (ADR) of around 3,600 baht (US$119) and achieve 50 per cent occupancy in its first year.
According to Kla, the 83-key Crown Lanta Resort & Spa in Krabi, the first property to come under its management portfolio, enjoyed 80 per cent occupancy and 3,600 baht ADR in the 2010/2011 high season. “We are building up the rate to around 6,500 baht by next year,” he said.
Meanwhile, Kla said the company-owned flagship hotel, the 203-room Siam@Siam Design Hotel and Spa, was poised this year to achieve 82 per cent occupancy and 3,000 baht ADR. Last year, the hotel’s occupancy and ADR dropped to 69 per cent and 2,790 baht respectively due to the Thai political crisis.
Siam@Siam plans to grow its inventory in Thailand to around 1,000 rooms, through developing one Siam@Siam each in Phuket and Pattaya, and managing an additional property in Bangkok.