Pattaya's Tourism Surge: 40 Billion Baht Investment on the Horizon

[snoop1130]

File photo for reference only

 

Pattaya is on track to become a global tourist hotspot, with a significant 40 billion baht investment aimed at boosting its hospitality and attractions. Asset World Corporation (AWC) is leading the way, as CEO Wallaya Traisorat announced on January 29, the opening of the new Meliá Pattaya Hotel. The 234-room hotel, with an investment of over 2 billion baht, is tailored for workcationers, digital nomads, MICE visitors, lifestyle seekers, and luxury tourists.

 

Meliá Pattaya is part of AWC's ambitious Lifestyle Destination plan, which includes the Aquatique Destination Pattaya, a central project between Soi 6 and the Hard Rock Hotel. This expansive plan, exceeding 30 billion baht, aims to position Pattaya as a premier seaside tourist location and reinforce Thailand’s reputation as a sustainable tourism hub. The recent tourism revival has already led to increased occupancy rates and room prices for AWC’s hotels.

 

Archwin Asavapokin, Deputy Managing Director and CFO of Land & Houses (LH), outlined his company's growth strategy. LH manages seven hotels valued at 14.7 billion baht, with six transferred to a real estate investment trust (REIT) and three more under development. Key projects include the 50-storey Grande Centre Point Lumpini, a mixed-use development opening on April 1 with a hotel and office spaces.

 

 

Upcoming developments also involve Grande Centre Point Ratchadamri 2 and Grande Centre Point Pattaya 3, both offering around 500 rooms each and opening in 2026 and 2027, respectively. Archwin explained the plan to transfer these hotels to a REIT after three years to fund further projects.

 

With three new hotels in Pattaya, Land & Houses sees continuous tourism appeal in the area, contrasting it with Phuket’s seasonal allure. Additionally, a fourth hotel is on the cards near Grande Centre Point Space Pattaya, with an estimated investment of 4 to 5 billion baht, solidifying Pattaya's status as a year-round tourist destination.

 

-- 2025-01-31

 

 

[champers]

All being built for extra tourists coming to a casino nearby.

[hotchilli]

Sin city to get a new attraction..

[SmokeandIce]

Lipstick on a pig.

[jacko45k]

Just now, SmokeandIce said:

Lipstick on a pig.

I see it as more insidious than that....

[mikebell]

'40 Billion Baht Investment' - surely enough to get a police force?