CHICAGO (January 24, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with One Bangkok Co., Ltd, for the debut of the Andaz brand in the capital city of Thailand. The 244-room luxury lifestyle hotel is expected to open in 2023 as part of One Bangkok, Thailand’s largest integrated development in a central business district and most comprehensive real estate project with an investment value of over THB120 billion, jointly developed by TCC Assets (Thailand) Company Limited and Frasers Property Holdings (Thailand) Company Limited.
The Andaz brand of luxury lifestyle hotels offer distinctively local experiences that stimulate the senses. Andaz means “personal style” in Hindi, and every Andaz hotel celebrates the uniqueness of their neighborhoods —capturing the best of local design and cuisine while delivering thoughtful, unscripted service. Andaz hotels enable guests to go beyond the familiar and satiate their curiosity about the world and local cultures through immersive experiences that capture the essence of the surrounding destination.
Catering to international and domestic business and leisure guests, Andaz One Bangkok will offer unique experiences that draw on Thailand’s cultural heritage and One Bangkok’s energy. The Andaz Tavern and Lounge together with the rooftop restaurant and bar will feature creative culinary experiences showcasing Thai flavors and international cuisine. Directly overlooking Lumphini Park, guests will be able to enjoy the serenity of an urban oasis alongside the energy of the One Bangkok district and the city.
Located in the central business district at the corner of Wireless Road and Rama IV Road, One Bangkok will elevate urban living with its comprehensive offering of hospitality, premium workspaces, distinct retail experiences and dedicated art and cultural spaces, alongside the city’s finest residences. The hotel is slated to open in the fourth quarter of 2023 and will be among the first components of the prestigious One Bangkok development to be unveiled. The hotel’s prime location will provide guests with convenient access to a wide range of shopping, dining and recreational activities as well as direct connection to Bangkok’s metro system.
“It is an honor to collaborate with One Bangkok for the introduction of the Andaz brand into Bangkok, one of Asia’s most popular travel destinations,” said Mr. David Udell, Group President - Asia Pacific, Hyatt Hotels Corporation. “We are excited to be part of this world-class destination and look forward to delivering authentic experiences inspired by the dynamic One Bangkok district and the city’s colorful blend of tradition and modernity.”
“Set against the verdant Lumphini Park, Andaz One Bangkok will play a key role in complementing One Bangkok’s extensive world-class offerings of leisure and relaxed luxury in the city’s commercial heart under the concept of ‘Park Boulevard,” said Ms. Su Lin Soon, Chief Executive Officer - Development of One Bangkok. “The Andaz brand’s creative style of weaving the local culture with a contemporary twist will introduce new hospitality experiences into Bangkok. We are confident that Andaz One Bangkok will help raise the bar for Thailand’s legendary tourism sector and support the local economy as the country prepares to welcome back travellers in the coming years.”
The term “Hyatt” is used in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
For more information, please visit andaz.com.
The term “Hyatt” is used in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
Global in scale while local in perspective, the Andaz brand of luxury lifestyle hotels weaves the sights, sounds, and tastes of each property’s surroundings for a distinctively local experience. Through thoughtful, unscripted service tailored for travelers, Andaz hotels enable guests to go beyond the familiar and satiate their curiosity while immersing them in the spirit of the eclectic culture around them. Twenty-five Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Bungalows, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Tokyo Toranomon Hills, Andaz Seoul Gangnam, Andaz Xiamen, Andaz Capital Gate Abu Dhabi, Andaz Dubai The Palm, Andaz Shenzhen Bay, and Andaz Bali. For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.
About One Bangkok
One Bangkok will be the largest integrated development in central business district and most comprehensive real estate project in Thailand, with an investment value of over THB120 billion, on the total land area of 104 rai, or 166,400 square meters. When fully completed, the project will include 5 premium Grade A office towers, 4 distinct retail precincts, 5 luxury and lifestyle hotels and 3 luxury residential towers operating under the core values of people-centric, sustainability and smart city living.
For all the five hotels in the project, One Bangkok has joined hands with highly acclaimed international hotel chains to create the standout choices for travelers who expect nothing but the very best service, amenities and convenience. The district’s comprehensive suite of hospitality options will range from boutique to business to super luxury, all uniquely designed with a unified focus on delivering the finest accommodation and lifestyle experiences in one location.
The first phase of One Bangkok is scheduled for opening in the second half of 2023, with full completion expected in 2026.
About TCC Assets
TCC Assets (Thailand) Company Limited is an investment holding and fully integrated real estate company with a registered capital of THB 10 billion. Incorporated in 2013, it is part of the TCC Group, one of Thailand’s most prominent conglomerates.
TCC Assets’ investment themes focus on enhancing asset value through insightful development of products and services. Together with its subsidiaries and affiliated companies, TCC Assets’ maintains a portfolio of residential, commercial, and retail properties, along with hospitality and technology-related services.
For more information on TCC Assets, please visit www.tccassets.com
About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”), is a multi-national developer-owner-operator of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$40.3 billion as at 30 September 2021.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities and 20 countries across Asia, Australia, Europe, the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts (“REITs”) and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.
The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture.
For more information on Frasers Property, please visit www.fraserproperty.com
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2021, Hyatt’s portfolio included more than 1,000 hotel and all-inclusive properties in 69 countries across six continents, and the acquisition of Apple Leisure Group added 96 properties in 10 countries as of November 1, 2021. Hyatt’s offerings include the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas. Hyatt’s subsidiaries operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and the Trisept Solutions® travel technology platform. For more information, please visit www.hyatt.com.
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Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the duration of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and longer-term effects of the COVID-19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution of COVID-19 vaccines and wide acceptance by the general population of such vaccines; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID-19 pandemic, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Hyatt – Asia Pacific
Hyatt – Asia Pacific