for the Management Contract of the Newly Branded
InterContinental Bangkok and Holiday Inn Bangkok
|Singapore, 13 October, 2003 – InterContinental Hotels Group today announced
that it has received the ‘Deal of the Year’ Award for the management contract
of the newly branded InterContinental Bangkok and Holiday Inn Bangkok,
which is scheduled to reopen in 2005, at the prestigious 14th annual Hotel
Investment Conference Asia Pacific last Friday.
InterContinental Hotels Group secured the deal with PHT after two years of discussion with the owners, the prominent Srivikorn and Charoen-rajapark families, with a very strong track record of long term ventures in manufacturing, property and other sectors. The key factors that contributed to InterContinental Hotels Group’s success in winning one of the region’s most sought-after deals were the mutual respect, common values and shared commitment by both companies to building and strengthening the relationship.
The Award was based on the votes of several hundred of the industry’s leading players at the conference held in Hong Kong last week. Participants included international hotel management companies, the World Travel and Tourism Council, consultancies such as Deloitte & Touche, property management companies such as Colliers International and Jones Lang LaSalle Hotels, and investment banks including Lehman Brothers, Sonnenblick-Goldman Company and Credit Suisse First Boston. The voting was undertaken by hotel industry players, investment community, operators and lenders and involved competing against two other significant, high-investment deals in the region such as the Challenger Financial Services Group’s acquisition of Park Hyatt Sydney and Goldman Sachs’ acquisition of a portfolio of Daei properties in Japan.
InterContinental Bangkok and Holiday Inn Bangkok are within Bangkok's central business district, close to major retail and leisure attractions and have immediate access to Chitlom skytrain station. The 381-room InterContinental Bangkok enjoys an imposing presence and offers excellent guest facilities and amongst the best and largest hotel meeting facilities in the city. Since its rebranding to the InterContinental brand, InterContinental Bangkok has secured a significant 20 per cent market share in Thailand in less than two months. The 377-room Holiday Inn Bangkok will provide an unbeatable location and facilities for the mid market guests.
“Thailand is one of Asia’s most dynamic and vibrant cities and we believe that it has the potential to be a premiere tourist and business destination and gateway to Southeast Asia. With the introduction of the InterContinental Bangkok and the upcoming launch of Holiday Inn Bangkok, InterContinental Hotels Group is offering both international business and leisure travellers a wider range of guest experiences, products and services that meet their individual needs, whether they are seeking a luxury hotel experience or a place where they can relax and be themselves. Our reinforced presence in Thailand will also further extend our leadership in Asia Pacific and secure our position in a region that is poised for growth,” he continued.
Successful Track Record of Leading Deals
InterContinental Hotels Group, then Six Continents Hotels, also received the Deal of the Year award in 2001 for its US$346 million acquisition of the Regent Hotel Hong Kong, a leading landmark hotel and a symbol of excellence in Hong Kong, which has been since been rebranded as InterContinental Hong Kong. The acquisition was one of the largest ever in the hotel industry in Asia.
Winning this industry accolade, InterContinental Hotels Group continues to strive forward to be a leading hotel management company in Asia Pacific, with a renewed focus on creating the world’s leading places to meet, relax and dream.
InterContinental Hotels Group PLC of the United Kingdom [LON:IHG, NYSE:IHG (ADRs)], owns, manages, leases or franchises more than 3,300 hotels and 515,000 guest rooms in nearly 100 countries and territories around the world (www.ichotelsgroup.com).
InterContinental Hotels Group
Tel: (65) 6395 6074
Fax: (65) 6395 6000
|Also See||NH Hoteles, Accor & Orient Express win Deal of the Year Awards at the International Hotel Investment Forum / March 2003|
|Millennium Pulls Off the Deal of the Year / Makings of Deal of the Year / June 2001|
|Strategic Hotel Capital Awarded Deal of the Year for its Acquisition of the Hotel Inter-Continental Praha, Prague / Mar 2000|
|'Single Asset Deal of the Year' Award Presented to Strategic Hotel Capital for its Acquisition of the 277-room Hamburg Marriott Hotel / Mar 2001|
|Radisson SAS in St. Petersburg, Russia 'Deal of the Year' / April 2002|
|P.R.S. 'Biki' Oberoi Awarded 'Lifetime Achievement Award' at the 6th International Hotel Investment Forum; Exceptional Leadership and High Standards for Hospitality / March 2003|