AWC partners with Meliá to expand luxury hotel portfolio to 3,000 rooms by 2036

M&A · Partnership
โดย HoonSmart·TH·Read original
Summary · why it matters

Asset World Corp, or AWC, has announced a long-term strategic expansion of its partnership with Meliá Hotels International to develop luxury and lifestyle hotels and resorts in Thailand, targeting a combined portfolio of more than 3,000 rooms by 2036 across the Meliá Hotels & Resorts, ME by Meliá, Paradisus Jomtien Hotel by Meliá, INNSiDE by Meliá and Gran Meliá Hotels & Resorts brands. A key highlight is the launch of Paradisus Jomtien Resort in 2031 on Jomtien Beach in Pattaya, marking the first time an all-inclusive luxury resort brand enters Thailand. In the fourth quarter of 2026, AWC will open a new Meliá hotel in the Sukhumvit 24 and 26 area, before fully upgrading it to the ME by Meliá and Meliá Hotels & Resorts brands in the fourth quarter of 2027. AWC currently has about 1,900 rooms under joint management with Meliá, both already in operation and under development, making AWC the largest owner of Meliá-branded hotels in Thailand. Wallapa Traisorat, Chief Executive Officer and President of AWC, said the partnership will help drive Thailand toward becoming a world-class sustainable tourism destination, while Gabriel Escarrer, Executive Chairman and Chief Executive Officer of Meliá Hotels International, said Thailand is one of the most important strategic markets in Asia-Pacific.

Impact on stocks 2

Consumer Discretionary · 1 stocks
Melia Hotels
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Meliá expands its Thailand portfolio through the AWC partnership, adding Paradisus, ME, INNSiDE and Gran Meliá properties.

Real Estate · 1 stocks