Thai Group CPN Investing Into 37 New Hotels

Thailand’s listed CPN Group (Central Pattana PCL) is set to inject USD288 million into 37 new hotels across Thailand.

CPN’s reported strategy is to include hotel components in every new mixed-use retail project across the country.

The investment is being targeted into three tiers of hotel assets. The first is a new budget chain Go!. The second will be into Centara One properties and the last are core Centara Hotels.

The Go! brand follows another Thai Group Erawan, which has engaged in a significant sale of hotel assets over the past two years to reinvest into the domestic geared Hop Inn brand expansion.