Key points
- While many developers continue to grapple with slowing residential demand and elevated housing inventories, Land and Houses Public Company Limited (LH) is increasingly turning its attention toward a business segment that has quietly become one of its strongest revenue generators—hotels and serviced apartments.
- In the midst of this transformation, this Thailand Hotel News report examines how LH is accelerating its hotel and serviced apartment expansion strategy while preparing a new generation of hospitality developments in Thailand and abroad.
- Among the newest additions is the Grande Centre Point Prestige Ratchadamri, which opened late last year on the former site of the iconic Peninsula Plaza in Bangkok’s Ratchadamri district.
Thailand Hotel News: Thailand’s property sector is facing one of its most challenging periods in recent years, yet one of the country’s largest developers is pursuing a markedly different strategy. While many developers continue to grapple with slowing residential demand and elevated housing inventories, Land and Houses Public Company Limited (LH) is increasingly turning its attention toward a business segment that has quietly become one of its strongest revenue generators—hotels and serviced apartments.
Image Credit: LHMH
Although Land and Houses remains best known for its extensive residential developments, the company has steadily built a substantial hospitality and recurring-income portfolio over the past two decades. Today, rental properties, hotels, shopping malls, and overseas hospitality assets have become a major pillar of the group’s earnings. In fact, recurring revenue has evolved from a supplementary income stream into a central growth engine. According to company data, revenue from rentals and services has surged dramatically over recent years, reflecting the growing importance of these assets to the company’s overall business model. In the midst of this transformation, this Thailand Hotel News report examines how LH is accelerating its hotel and serviced apartment expansion strategy while preparing a new generation of hospitality developments in Thailand and abroad.
Hospitality Business Becomes a Strategic Growth Driver
For 2026, Land and Houses has adopted one of its most cautious approaches to residential project launches in years, introducing only two new housing developments. The decision reflects not only market conditions but also the fact that the company already holds approximately 69 projects ready for sale, representing inventory valued at more than 80 billion baht.
Rather than aggressively adding more housing projects, LH is focusing on businesses capable of generating recurring cash flow. Through LH Mall & Hotel Co., Ltd. (LHMH) in Thailand and Land and Houses USA, Inc. in the United States, the company currently manages and develops a diverse portfolio comprising hotels, shopping malls, serviced accommodation assets, and rental properties.
The hospitality portfolio currently includes nine operational Grande Centre Point hotels, several of which have already been transferred into real estate investment trusts, alongside additional projects under construction. The company also owns and manages major retail assets such as Terminal 21 shopping centres as well as hospitality-related investments in the United States.
Major Grande Centre Point Projects Underway
A key feature of LH’s expansion strategy is the continued growth of its flagship Grande Centre Point brand, which has become one of Thailand’s most recognized luxury hotel operators.
Among the newest additions is the Grande Centre Point Prestige Ratchadamri, which opened late last year on the former site of the iconic Peninsula Plaza in Bangkok’s Ratchadamri district. The ultra-luxury property features 509 rooms and is expected to become a significant contributor to recurring revenue, with projections suggesting it could generate approximately one billion baht annually.
Another important development is Grande Centre Point Lumphini, a major mixed-use project located in Bangkok’s central business district. The development combines luxury accommodation, office space, and large-scale meeting and banquet facilities, reinforcing LH’s position within Thailand’s premium hospitality market.
However, one of the most anticipated projects is the upcoming Grande Centre Point Voyage Pattaya. Scheduled to open during the fourth quarter of 2026, the 4.3-billion-baht development will feature 494 rooms and one of the most ambitious leisure concepts in the company’s history. Its signature attraction will be a massive 20,000-square-metre ocean-themed water park, making it the largest recreational facility within the Grande Centre Point portfolio.
Looking further ahead, LH is preparing for the launch of Grande Centre Point Chinatown in 2028. The project, valued at approximately 3.6 billion baht, will be situated in Bangkok’s historic Yaowarat district and is expected to capitalize on growing tourist demand for cultural and heritage-based travel experiences.
Expansion Beyond Traditional Hotels
While hotels remain at the centre of LH’s hospitality strategy, the company is also actively strengthening its serviced apartment and extended-stay accommodation portfolio.
In the United States, Land and Houses USA currently owns the Residence Inn Los Angeles LAX/Manhattan Beach, a 176-room extended-stay property operating under Marriott’s globally recognized Residence Inn brand. The asset provides exposure to the growing long-stay accommodation market, which has demonstrated resilience amid changing travel and work patterns.
At the same time, LH has streamlined parts of its U.S. residential rental portfolio, divesting selected apartment assets as part of a broader restructuring strategy aimed at reallocating capital toward higher-yield hospitality investments.
Asset Recycling Fuels Future Growth
One of the company’s most distinctive strategies is its use of asset recycling. Under this model, LH develops and operates hotels, shopping centres, and rental properties until they reach maturity. Once stabilized and generating predictable cash flow, selected assets are sold into real estate investment trusts, enabling the company to unlock capital for new investments.
For 2026, LH plans to sell one hotel in Thailand and two U.S. properties, with proceeds earmarked for future hospitality developments. This approach allows the company to continuously refresh its portfolio while limiting dependence on large-scale borrowing.
Additionally, LH has announced plans to invest approximately 2.5 billion baht into its hotel business during 2026, with a target of generating 9.9 billion baht in recurring rental and hospitality revenue.
A Different Path Through an Uncertain Market
While many developers continue waiting for a rebound in residential demand, Land and Houses is pursuing a more diversified path. By steadily expanding its hotel and serviced apartment operations, the company has created an alternative source of income that is less dependent on property transfers and presales. The strategy does not eliminate exposure to economic cycles, particularly given the hospitality industry’s dependence on tourism flows and traveler confidence. Nevertheless, the growing scale of the Grande Centre Point portfolio, coupled with disciplined asset recycling and strategic reinvestment, positions LH as one of Thailand’s most active property groups in the hospitality sector. As new hotels open in Bangkok, Pattaya, and future destinations, the company appears determined to strengthen its recurring-income platform and secure long-term growth beyond traditional residential development.
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