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Source: Thailand Hotel News  Sep 02, 2019

Condo Developer Raimon Land Going Into Hotels

Condo Developer Raimon Land Going Into Hotels
Source: Thailand Hotel News  Sep 02, 2019
Leading luxury condo developer, Thailand, Raimon Land (RML)  will convert  two development projects on Charoen Nakhon Road and Sukhumvit Soi 19 into 2 new hotels, scheduled to open in 2020 and 2022. According to its company directors, the sudden change is part of the company’s long term strategic investment plans and diversification moves.


The Shaa Asoke Hotel
 

Raimon Land  is spending about US$ 3.5 million  baht to convert the  Vue, a four-storey community mall with a lettable area of 4,000 square metres on Charoen Nakhon Road, into a hotel with 72 rooms.
 
Raimon Land’s CEO  Lionel Lee commented in a phone interview with Thailand Hotel News, "The hotel will be named Kitch Hotel and should open in the first quarter of 2020. It will be the first and only food hotel in Thailand. The location has potential as it is situated only 200 metres from Iconsiam." Accroding to the executives from Raimon Land, the project will be self-managed by the company and will offer a unique concept never seen in the hospitality industry before.
 
The company  will also change the development plan of the off-plan luxury condo project, Shaa Asoke, to a 250-room hotel scheduled to open in 2023.
 
Originally the Shaa Asoke Condominium which occupies one rai of land on Sukhumvit Soi 19, was projected to have 24 storeys with a total of 143 units with a combined  value of Bt 2.5 billion. The project was launched for sale early last year but only 15 percent taken up. The booking money for the 15% of units sold was returned to buyers after the company decided to change it into a hotel.
 
The company also operates  84 unsold units at the  at The River Condo on Charoen Nakhon Road as serviced apartments under the Klapsons The River Residences Brand. The company is also making attempts at strengthening its hospitality management division with new hirings and also trainings programmes.