Plaza Athenee Bangkok, a Royal Meridien Hotel, is being rebranded after a 1-billion-baht refurbishment.
From Friday, the five-star hotel owned by billionaire Charoen Sirivadhanabhakdi will be known as The Athenee Hotel, a Luxury Collection Hotel, and managed by Marriott International.
The rebranding is aimed at keeping the hotel at the top of the luxury hotel segment amid fierce competition from existing high-end rivals and new ones opening along the Phloenchit and Ratchaprasong areas, a prime location for the hospitality sector.
Chooleng Goh, the general manager who oversees Plaza Athenee and Le Meridien in Bangkok, said the renovation, which started in 2014, is scheduled for completion on in early 2018.
To fit in with style of The Luxury Collection hotel, the renovation highlights a treasured memories concept as the hotel stands on the grounds of the former palace of Princess Valaya Alongkorn, daughter of Chulalongkorn, King Rama V (1853-1938) and the aunt of the late King Bhumibol Adulyadej, Rama IX.
Goh: Competition fierce in luxury hotels
Mrs Goh said competition among hotels in the Phloenchit and Ratchaprasong zones is growing even more intense with at least two top-end hotels -- Rosewood Bangkok and Waldorf Astoria Bangkok -- scheduled to open in 2018-19. Park Hyatt Hotel opened its doors in May at the luxury shopping mall Central Embassy.
The average occupancy rate of hotels in the areas in the first eight months this year was 80%, 4% up year-on-year.
For the bigger picture, the hotel business in Bangkok in the final quarter this year is expected to grow 10-12% year-on-year, thanks to the annual festive season.
"With more players in these areas, we want to move forward with more stories. On Oct 6, Plaza Athenee, a Royal Meridien Hotel, will be officially rebranded and upgraded to a higher position as The Athenee Hotel, a Luxury Collection Hotel," Mrs Goh said.
She did not provide the total budget for the renovation and rebranding, but insiders close to Mr Charoen confirmed it was close to 1 billion baht.
Mr Charoen, Thailand's second-richest citizen listed by Forbes magazine with a net worth of US$15.4 billion (515 billion baht), also owns Hotel Plaza Athenee New York, one of the most popular luxury hotels in the US.
The Bangkok hotel has a refurbished grand lobby, meeting rooms and other facilities, and an expanded bakery. Most of the guestrooms have been remodelled except for three suites, which are expected to be ready early next year.
Plaza Athenee is known for its large meeting facility, along with Bangkok Marriott Marquis Queen's Park, which is also owned by Mr Charoen, Shangri-La and Centara Grand at CentralWorld.
Mrs Goh said the hotel plans to raise its room rates by 10% when the renovation is completed, starting from 6,000 baht per night. Average occupancy rate was 80% during first nine months this year and is forecast to be slightly higher for the entire year.
Some 40% of its clientele is business travellers and 30% is meeting, incentive, convention and exhibition visitors. Top markets are the US, Japan, Singapore and China.
