Bangkok, Thailand, December 12, 2022 / TRAVELINDEX / Accor, the world's leading hotel group, has signed its first multi-hotel master agreement with Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate company. The agreement with AWC underscores Accor's continued rapid growth in Thailand, a strategically important market that continues to prove highly attractive internationally. Under the partnership, Accor and AWC will develop over 1,000 rooms across multiple Accor-branded hotels in key tourist destinations throughout the country, offering guests unique experiences and services.

“Accor has always been a pioneer in developing new markets and works with owner partners who share our vision for the future of hospitality,” says Garth Simmons, CEO of Accor Southeast Asia, Japan, and South Korea. “We are delighted to partner with Asset World Corporation and believe that Accor’s expertise and strength in the hotel sector will perfectly complement AWC’s leading position in the Thai lifestyle real estate market. We look forward to bringing some of the world’s most prestigious hotel brands to Thailand through this groundbreaking partnership.”

Under the agreement, AWC will develop the properties under Accor's various luxury and lifestyle brands. The hotels will further strengthen the country's real estate and tourism sectors and further establish Thailand as a unique, sustainable travel destination worldwide.

Wallapa Traisorat, CEO and President of Asset World Corp Public Company Limited (AWC), stated: “We are delighted to announce this first strategic partnership with Accor, a leading global hotel group. This collaboration will expand our portfolio of strategically important locations throughout Thailand. The development of several world-class hotels marks the beginning of further exciting projects that will foster the growth of the Thai tourism sector while supporting AWC’s mission to create a better future.”

Accor currently operates 373 hotels in Southeast Asia, Japan, and South Korea, including 83 hotels in Thailand under eleven brands. The group has a promising project pipeline with 20 hotels currently under development in Thailand.

About Accor: Accor is a leading global hotel group with 5,300 hotels and 10,000 restaurants and bars in 110 countries. The group has one of the industry's most diverse and fully integrated hotel ecosystems, with more than 40 hotel brands across the luxury, premium, mid-range, and budget segments, entertainment and nightclubs, restaurants and bars, branded residences, shared living spaces, concierge services, coworking spaces, and much more. Accor's unrivaled position in lifestyle hospitality—one of the industry's fastest-growing segments—is spearheaded by Ennismore, a joint venture in which Accor holds a majority stake. Ennismore is a creative hospitality company with a global network of entrepreneurial and founder-led brands driven by a strong purpose. Accor boasts an unparalleled portfolio of distinctive brands and more than 230,000 employees worldwide. Members benefit from the comprehensive loyalty program ALL – Accor Live Limitless – a daily lifestyle companion with access to a wide range of rewards, services, and experiences. With its global sustainability commitments (such as achieving net-zero emissions by 2050, eliminating single-use plastics in its hotels worldwide, etc.) and initiatives like Accor Solidarity, RiiSE, and the ALL Heartist Fund, the Group is committed to positive change through business ethics, responsible tourism, environmental sustainability, social responsibility, diversity, and inclusion. Founded in 1967, Accor SA is headquartered in France and is listed on Euronext Paris (ISIN: FR0000120404) and on the OTC market (ticker: ACCYY) in the USA.

About Asset World Corporation plc: Asset World Corp Public Company Limited (AWC) is Thailand's leading integrated lifestyle real estate group and a member of the TCC Group. Its focus is on hospitality, lifestyle destinations, and commercial real estate. Driven by the philosophy of "Creating a Better Future," AWC strives for growth and expansion beyond the norm with a diverse portfolio of high-quality projects, offering responsible and sustainable solutions for all stakeholders. The company operates in two main business segments: hospitality, led by top managers from world-renowned hotel brands such as Marriott, The Luxury Collection, Okura, Banyan Tree, Hilton, Sheraton, and Melia; and commercial real estate. Projects include: 1) Retail and wholesale, including lifestyle destinations, shopping malls, markets, and wholesale commercial properties. Notable real estate projects include Asiatique the Riverfront Destination, Gateway at Bangsue, AEC Trade Center – Pantip Wholesale Destination, and Tawanna Bangkapi; 2) Office buildings, including the iconic Empire Tower and Athenee Tower in Bangkok's central business district. AWC is committed to integrating its sustainability strategy across all business areas to create long-term, sustainable value for all stakeholders. The sustainability strategy is based on three pillars: Better Planet, Better People, and Better Prosperity. As part of this strategy, numerous long-term initiatives have been launched, including ReConcept, The GALLERY, and other projects.