CPN signed an agreement with Hilton Hotels Corporation to manage five-star hotel at CentralFestival Pattaya Beach.
CPN Pattaya Beach Co., Ltd., a subsidiary of Central Pattana Public Company Limited or "CPN", has signed an agreement with Hilton Hotels Corporation to manage the Hilton Pattaya, the five-star hotel that is a port of CentralFestival Pattaya Beach project. CPN sees high potential in Pattaya as its economy is growing exponentially from both Thai and foreign investments, particularly in the developments of high-end hotel and residential properties. Other industries in Pattaya and nearby areas have been expanding continuously. In addition, the numbers of high-end tourist arrivals have increased significantly.
The Hilton Pattaya will be located on the 7th floor of CPN's shopping center, with the 300 upscale guest room housed in a 15 storey tower above the lobby, for a total of 22 floors. The most outstanding eatery will be a premium sky restaurant, the first of its kind in Pattaya, overlooking the Pattaya Bay. The hotel's scheduled opening date is in early 2010, one year after the shopping centre opens.
CPN is investing more than five billion baht in the CentralFestival Pattaya Beach project, which is the largest lifestyle shopping complex on a natural beach front in Asia. It has great potential to pull in high-end customers because it is a world class mix-used project combining a very modern and comprehensive shopping centre with a leading department store and a five-star hotel managed by Hilton Hotels Corporation. Currently, CPN is seeking the right partner to jointly invest in constructing the hotel and expect to be able to reach a conclusion soon.
