Bangkok, Thailand, March 6, 2023 / TRAVELINDEX / Fairmont Hotels & Resorts, part of the world's leading hotel group Accor, and Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group, today announced the signing of the contract for the first Fairmont hotel in Thailand. The Fairmont Bangkok Sukhumvit will open in 2024 as the first project under the multi-property framework agreement between AWC and Accor, reinforcing Bangkok's position as a global hub for luxury leisure, business, and group travel. Through this partnership, AWC and Accor will open over 1,000 rooms across various Accor hotels in key tourist destinations throughout the country, offering guests unique experiences and services. This will also strengthen Thailand's position as a sustainable travel destination.

Fairmont is one of Accor's leading global luxury brands, boasting a history spanning over a century. Its iconic hotels are located in exceptional locations around the world – from the Plaza in New York City and the Savoy in London to the Fairmont Peace Hotel in Shanghai and the Fairmont The Palm in Dubai. This aligns with Accor World's strategy of developing high-quality properties in prime locations. Fairmont hotels worldwide are renowned for their luxurious guest rooms, world-class public spaces and restaurants, and breathtaking locations, offering guests unforgettable experiences – and the Fairmont Bangkok Sukhumvit is no exception.

Located in the heart of the Sukhumvit district, the Fairmont Bangkok Sukhumvit combines Fairmont's timeless aesthetic with the renowned luxury brand's legendary service and a distinctive offering, including an unforgettable dining experience. The hotel provides guests with a home away from home, inspired by the design concept of "A Fantastic Journey into Bygone Eras," featuring handcrafted classic furnishings and opulent, refined details.

“We have great confidence in AWC and are delighted to be working together to bring one of Accor’s most luxurious brands to Bangkok as the first Fairmont hotel in Thailand,” said Mark Willis, CEO of Fairmont Hotels & Resorts. “The Fairmont brand is truly legendary, offering its valued guests world-class service and unforgettable experiences. We believe this partnership with AWC and our shared vision will set a new standard for world-class luxury in Bangkok and support both the continued growth of tourism in Thailand and the ongoing expansion of the Fairmont brand in Southeast Asia.”

The 419-room hotel offers a variety of specialty restaurants and bars serving international and Asian cuisine, a rooftop bar with spectacular views of the skyscrapers in Bangkok's central business district, a swimming pool, a fitness center, and a spa and wellness center. With its extensive, flexibly scalable meeting spaces of various sizes and state-of-the-art technology, including virtual meeting equipment, the Fairmont Bangkok Sukhumvit opens as Thailand's first fully integrated luxury MICE (Meetings, Incentives, Conferences and Exhibitions) hotel. Setting a new standard for luxury in the capital's central business district, the hotel is tailored to the needs of modern guests. It appeals to both local and international visitors and reinforces Bangkok's position as a global hub for the luxury MICE market.

Wallapa Traisorat, CEO and President of Asset World Corp Public Company Limited (AWC), explains: “We are delighted to announce the opening of the first Fairmont hotel in Thailand. Following the signing of a multi-property agreement with Accor in December 2022, we are expanding our portfolio in the MICE segment at strategic locations in Bangkok. With the Fairmont Bangkok Sukhumvit, we are introducing a legendary luxury hotel brand with unique offerings to Thailand and the Thai hotel industry. The Fairmont Bangkok Sukhumvit is the first AWC hotel managed by Accor and the leading integrated luxury MICE hotel in Thailand. It strengthens the capital's position as a global hub for the luxury MICE market. The introduction of the Fairmont brand will also boost Thai tourism, create long-term value, and positively impact the surrounding communities and society.”

“At AWC, we have recognized that the luxury meetings market has become one of the fastest-growing segments since the end of the pandemic. AWC’s occupancy rate in the MICE sector nearly doubled between 2021 and 2022. Bangkok, one of the world’s most popular destinations for leisure and business travelers, is renowned for its gastronomy and culture, as well as its reputation as a lifestyle destination with excellent logistics infrastructure and optimal transport connections. Therefore, the Fairmont Bangkok Sukhumvit, with its distinctive and unique design, is ideally positioned to meet the needs of a new era of luxury events,” added Ms. Wallapa.

In line with Fairmont and AWC's sustainability commitments, the hotel will meet LEED and WELL standards for sustainable construction, prioritizing energy conservation and a circular economy model for waste management. Located in the heart of Sukhumvit and at the Asoke interchange, the hotel offers convenient access to the BTS Skytrain and the MRT subway network. Nearby are offices of multinational corporations, the Queen Sirikit National Convention Center, and shopping malls such as the EM District.

With more than 90 hotels worldwide and a record number of projects under development, the Fairmont Bangkok Sukhumvit joins a growing portfolio of renowned properties in Asia, including the Fairmont Singapore in the heart of the Lion City; the Fairmont Makati, which recently celebrated its 10th anniversary; and the Fairmont Ambassador Seoul, the latest expression of urban luxury in the center of the South Korean capital.

Fairmont is part of Accor, the world's second-largest operator of luxury hotels. Other luxury brands in the Accor portfolio include Raffles, Orient Express, and Sofitel. Upon its opening, the Fairmont Bangkok Sukhumvit will become part of ALL – Accor Live Limitless, Accor's award-winning lifestyle loyalty program.

About Fairmont: Fairmont Hotels & Resorts combines intimacy and expansiveness – an unparalleled portfolio of over 90 exceptional hotels where life's great moments, most memorable experiences, and most important milestones are celebrated and cherished long after the visit. Since 1907, Fairmont has been creating magnificent, meaningful, and unforgettable hotels with character, deeply connected to the history, culture, and community of their destinations – such as The Plaza in New York City, The Savoy in London, The Fairmont San Francisco, The Fairmont Banff Springs in Canada, The Fairmont Peace Hotel in Shanghai, and The Fairmont The Palm in Dubai. Renowned for its warm service, impressive public spaces, regionally inspired cuisine, and legendary bars and lounges, Fairmont also prides itself on its pioneering approach to hospitality and its commitment to sustainability and responsible tourism.

About Accor: Accor is a leading global hotel group, delivering experiences in over 110 countries across 5,400 hotels, 10,000 restaurants and bars, wellness facilities, and flexible workspaces. The group has one of the industry's most diverse hotel ecosystems, with more than 40 hotel brands – from luxury to economy – as well as the lifestyle brand Ennismore. Accor is committed to positive action in the areas of business ethics and integrity, responsible tourism, sustainable development, social responsibility, and diversity and inclusion. Accor SA was founded in 1967, is headquartered in France, and is listed on Euronext Paris (ISIN: FR0000120404) and on the OTC market (ticker: ACCYY) in the USA.

ABOUT AWC 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) Commercial buildings, including the iconic "The Empire" Tower and the 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.