BETHESDA, Md. and BANGKOK, Jan. 31, 2013 /PRNewswire/ -- Marriott International today announced the signing of seven management agreements with TCC Hotels Group which will see the US hospitality company operating seven TCC hotels across Thailand. These agreements make the TCC Hotels Group the largest owner of Marriott International hotels in Asia Pacific.
The seven hotels are:
This landmark agreement will add 3,000 rooms to Marriott International's existing 12 hotels of 3,110 rooms across Thailand.
The TCC Hotels Group will represent a variety of Marriott International's brands including
The Ritz-Carlton, JW Marriott and the company's signature Marriott Hotels & Resorts brand. It will see Marriott International take on the management of two existing hotels and five new build properties across the country in the strategic tourist destinations of Bangkok, Phuket, HuaHin and Pattaya.
Speaking at the signing ceremony in Bangkok, Simon Cooper, Marriott International's president and managing director Asia Pacific, said: "We are delighted to announce this landmark deal for Thailand. TCC Hotels Groupis very well established as a hotel owner and operator around the world and these seven hotels will add to our already strong portfolio of hotels in the country."
"I believe this partnership shows our commitment to and faith in Thailand as a strategically important business and leisure destination in South East Asia. Managing this portfolio of TCC hotels in the country will allow us to extend our product offering and brands in Thailand, and enable domestic and international travellers to experience our hotels and world-class service."
TCC Hotels Group expects to invest approximately US$500 million for the seven hotels including an extensive refurbishment of the existing Imperial Queen's Park Hotel, Bangkok and the Imperial Adamas Phuket Beach Resort before being rebranded and opened under the Marriott Hotels & Resorts brand in 2016.
"TCC Hotels Group believes that Thailand and the group could benefit from the global network and standards of Marriott International. We are very excited to be working together with Marriott International, an experienced global operator to support our growth strategy and our confidence in both Tourism and MICE business sectors of Thailand," said Wallapa Traisorat, President of TCC Hotels Group.
These 3,000 rooms are in addition to Marriott International's existing pipeline in Thailand of more than 1,000 rooms, and the company expects to be managing almost 7,000 rooms in Thailand by 2017 to support the continued tourism growth for Thailand as it becomes a strategic location of the Asian Economic Community (AEC).
NOTE: The statements about the opening dates for the new hotels and timing of brand launches are "forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report to the US Securities and Exchange Commission on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
TCC Hotels Group
TCC Hotels Group is a member of the TCC Land Group, one of Thailand's most prominent conglomerates. Its core business is to develop and to invest in a wide range of real estate projects including: residential, office buildings, hospitality, and the retail sector. TCC Land's expertise also extends to property and land management not only in Thailand but also in other countries worldwide.
Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA with more than 3,700 properties in 74 countries and territories and reported revenues of over $12 billion in fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including Marriott Hotels & Resorts,The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels,Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments,Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club. There are approximately 300,000 employees at headquarters, managed and franchised properties. Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
SOURCE Marriott International, Inc.