Key points
- The upcoming DoubleTree by Hilton Bangkok Silom will be developed on a 30-year leasehold site owned by the Privy Purse Bureau, formerly known as the Crown Property Bureau, near the Silom BTS skytrain station.
- Executives from AIRA Property and Hilton Hotels on the signing of the development of the DoubleTree by Hilton Bangkok Silom HotelImage Credit.
- By integrating international environmental standards into its design and operations, AIRA Property aims to position the hotel as both a commercial success and a benchmark for sustainable urban transformation in Bangkok’s CBD.
Thailand Hotel News: MAI-listed AIRA Capital Public Company Limited is accelerating its push into Thailand’s premium hospitality landscape with a 2.3-billion-baht investment to develop the DoubleTree by Hilton Bangkok Silom, a landmark project set to rise in one of Bangkok’s most dynamic commercial corridors. The move signals a decisive expansion of its real estate arm, AIRA Property Public Company Limited, and reinforces the group’s strategy to prioritize recurring income from high-quality leasehold developments in prime urban locations.
Image Credit: AIRA Property
In this Thailand Hotel News report, the announcement underscores AIRA’s confidence in leasehold land as a powerful investment model. Chief Executive Officer Nalinee Ngamsettamas emphasized that leasehold plots significantly reduce upfront capital expenditure compared with freehold acquisitions, allowing developers to optimize returns while maintaining flexibility. By focusing exclusively on long-term leasehold land for both commercial and residential projects, the company believes it can deliver stronger financial performance while mitigating risk in an increasingly competitive property market.
Prime Silom Location Backed by Hilton Partnership
The upcoming DoubleTree by Hilton Bangkok Silom will be developed on a 30-year leasehold site owned by the Privy Purse Bureau, formerly known as the Crown Property Bureau, near the Silom BTS skytrain station. Designed as a 29-storey upscale hotel featuring 303 rooms, the project will cater to both business and leisure travelers seeking internationally branded accommodation in Bangkok’s central business district.
Construction is scheduled to commence by the end of 2026, with completion targeted for 2029. Management projects a break-even period of approximately six years after opening, reflecting confidence in sustained demand for quality hospitality assets in the Silom area.
AIRA Property selected Hilton as its strategic partner after evaluating more than 20 brand proposals. According to executives, Hilton’s global track record, century-long hospitality expertise, and strong distribution network made it the ideal collaborator to elevate the project’s competitiveness. The hotel will operate under the DoubleTree by Hilton brand, known for its upscale positioning and strong performance in key gateway cities worldwide.
Image Credit: AIRA property
Building on the Success of Spring Tower
The Silom hotel marks AIRA Property’s second major real estate investment following the success of Spring Tower, a Grade-A office building located near Ratchathewi intersection. Developed with a total investment of 2 billion baht, Spring Tower was also built on leasehold land from the Privy Purse Bureau.
The office building currently reports an occupancy rate of approximately 93 percent, with expectations to reach 97 to 98 percent by year-end. Featuring 27,255 square metres of lettable space, the property has benefitted from continuous asset enhancement initiatives, including modernized facilities, EV charging stations, and plans to introduce a fitness center to meet evolving tenant demands.
This performance has strengthened the group’s belief in tangible real estate assets over financial-sector investments. While financial services remain part of AIRA’s portfolio, Nalinee noted that property offers clearer management cycles and greater stability, particularly in contrast to the volatility and provisioning requirements associated with non-performing loans in the financial sector.
Green Standards and Flight to Quality
The DoubleTree by Hilton Bangkok Silom will be developed as a green building designed to meet LEED Hospitality standards. Executives describe the project as aligning with the “Flight to Quality” trend, where tenants and guests are increasingly willing to pay a premium for properties that combine prime location, safety, advanced technology, and environmental sustainability.
By integrating international environmental standards into its design and operations, AIRA Property aims to position the hotel as both a commercial success and a benchmark for sustainable urban transformation in Bangkok’s CBD.
Next ERA Strategy and Capital Market Ambitions
As AIRA Property celebrates its 10th anniversary, the company has unveiled its “Next ERA” strategy, structured around four dimensions: economic development, social and community development, promotion of Thai culture and services, and sustainability through ESG principles. The Silom hotel forms a central pillar of this long-term vision to expand recurring income streams and elevate the company into the ranks of Thailand’s leading real estate developers.
Looking ahead, the group plans to establish a Real Estate Investment Trust to enhance liquidity and recycle capital for future developments. It is also studying the feasibility of a tokenized REIT structure in collaboration with Japanese partners, potentially opening doors to international capital markets. An eventual IPO for AIRA Property is under consideration once projects are stabilized and revenue streams mature, with listings on both domestic and overseas exchanges being evaluated.
The launch of the DoubleTree by Hilton Bangkok Silom represents more than a single hotel project. It reflects a disciplined, long-term strategy rooted in prudent risk management, steady asset growth, and partnerships with globally recognized brands. By focusing on sustainable development, recurring income, and innovative financing structures, AIRA Property is positioning itself to capture long-term value while contributing to Bangkok’s evolving urban skyline.
With construction slated to begin in 2026 and opening targeted for 2029, industry observers will be watching closely as this 2.3-billion-baht investment takes shape in the heart of Silom, potentially redefining the district’s hospitality landscape for years to come.
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