Centara Signed a 20-Year Lease of Centra
The 20-year lease is around 1.2 Billion Baht deal
“Centra by Centara Government Complex continues to play a vital role in the facilitating of official and government business in Thailand. Having managed this successful hotel and convention centre for 6 years the investment in a long term lease in this property was a logical step and supports our strategic plan to double Centara’s size within the next five years,” said Centara’s Chairman of the Board Suthikiati Chirathivat.
Centra by Centara is one of the hospitality group’s six hotel brands. The Centra by Centara Hotel and Convention Centre at the Government Complex offers ideal accommodations and meeting facilities for businesspeople, delegates and officials. Its 24 meeting rooms, including the large Vayupak Grand Ballroom, can host a variety of large and small conferences and events simultaneously. Hotel and conference facilities are integrated so that guests can easily walk between meeting and event venues, restaurants, and their hotel rooms. The Centra by Centara property also hosts weddings and concerts.
The Government Complex in which the property is located is home to over 30 official departments and agencies. It functions like a small town, including banks, retail shops, restaurants, clinics and other amenities. There is parking for over 2,000 vehicles.
Dhanarak Asset Development Company Ltd., the property’s original owner, was established by the Thai Ministry of Finance to build and manage the Government Complex. Centara has ambitious plans to eventually renovate both the hotel and its attached convention centre.
Over the next five years, Centara Hotels & Resorts aims to double its size with additional properties in Thailand and its new international markets, while spreading its footprint into new continents and market niches. Its flagship properties in Bangkok, Centara Grand & Bangkok Convention Centre at CentralWorld, and Centara Grand at Central Plaza Ladprao, have established the company’s reputation as the leading meeting, conference, and large event host in Thailand.
Centara Hotels & Resorts is Thailand’s leading hotel operator. Its 58 properties span all major Thai destinations plus the Maldives, Sri Lanka, Vietnam, Laos, China, Oman, Qatar and the UAE. Centara’s portfolio comprises six brands - Centara Grand Hotels & Resorts, Centara Hotels & Resorts, Centara Boutique Collection, Centra by Centara, Centara Residences & Suites and COSI Hotels – ranging from 5-star city hotels and luxurious island retreats to family resorts and affordable lifestyle concepts supported by innovative technology. It also operates state-of-the-art convention centres and has its own award-winning spa brand, Cenvaree. Throughout the collection, Centara delivers and celebrates the hospitality and values Thailand is famous for: gracious service, exceptional food, pampering spas and the importance of families. Centara’s distinctive culture and diversity of formats allow it to serve and satisfy travellers of nearly every age and lifestyle.
Over the next five years Centara aims to double its size with additional properties in Thailand and its new international markets, while spreading its footprint into new continents and market niches. As Centara continues to expand, a growing base of loyal customers will find the company’s unique style of hospitality in more locations. Centara’s global loyalty programme, Centara The1 Card, reinforces their loyalty with rewards, privileges and special member pricing.
Find out more about Centara at www.CentaraHotelsResorts.com