AWC and Accor Sign First Strategic Multiple-Property Framework Agreement
Bangkok, Thailand, December 12, 2022 / TRAVELINDEX / Global hospitality leader, Accor, has signed its first multiple-property framework agreement with Asset World Corporation (AWC), Thailand’s leading integrated lifestyle real-estate group. The Framework Agreement with AWC signals Accor’s continued rapid expansion across Thailand, a strategic market which continues to shine on the world stage. Under the partnership, Accor and AWC will develop more than 1,000 room keys across multiple Accor-branded hotels in key tourism destinations throughout the country, providing unique offerings and experiences for guests.
“Accor has always been a pioneer in expanding into new frontiers, working with owner partners that understand our vision for the future of hospitality”, says Garth Simmons, Chief Executive Officer, Accor Southeast Asia, Japan & South Korea. “We’re delighted to be entering into this partnership with Asset World Corporation, and I believe that Accor’s expertise and strength within the hospitality sector will complement AWC’s leadership position within the lifestyle real estate business in Thailand. We look forward to bringing some of the world’s most renowned hotel brands to Thailand with this milestone partnership”.
As part of the agreement, AWC will develop the properties under Accor’s various luxury and lifestyle brands. The hotels will further strengthen both the real estate and tourism industries in the country, and further enhance Thailand as a unique sustainable destination of the world.
Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited or AWC, states, “We are delighted to announce this first strategic partnership with Accor, a world-leading hospitality group, to expand our portfolio in strategic locations across Thailand. The collaboration to develop a number of a world-class hotels will mark the beginning of more exciting projects in the future to support the growth of the Thai tourism industry while pursuing AWC’s mission of Building a Better Future”.
Accor currently operates 373 hotels in Southeast Asia, Japan and South Korea, with 83 hotels operating in Thailand under 11 brands. The Group has a strong pipeline of 20 hotels currently under development in Thailand.
Accor is a world leading hospitality group consisting of 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The Group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a joint venture, which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and more than 230,000 team members worldwide. Members benefit from the company’s comprehensive loyalty program – ALL – Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its global sustainability commitments (such as achieving Net Zero Carbon emissions by 2050, global elimination of single use plastics in its hotels’ guest experience, etc.), Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.
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 TCC Group, with the focus on hospitality, lifestyle destinations, and commercial workspaces. Driven by the philosophy of “Building a Better Future,” AWC strives to grow and expand beyond the norms with a diverse array of quality projects, providing responsible and sustainable solutions for all our stakeholders. The company has two main businesses. Hospitality business managed by top hotel executives of world-renowned hotel brands such as Marriott, The Luxury Collection, Okura, Banyan Tree, Hilton, Sheraton, and Melia, and Commercial properties whose projects include 1) Retail and Wholesale such as lifestyle travel destinations, community shopping malls, community markets, and wholesale business real estate. Popular real estate projects consist of Asiatique the Riverfront Destination, Gateway at Bangsue, AEC Trade Center – Pantip Wholesale Destination, and Tawanna Bangkapi, and 2) Commercial buildings including the famous Empire Tower and Athenee Tower located in Bangkok’s central business district. AWC is committed to integrating its sustainability strategy in every part of its operations to create long-term sustainable value for all stakeholders. The sustainability strategy consists of three key pillars: Better Planet, Better People and Better Prosperity, while the framework has created numerous long-term initiatives including the ReConcept, The GALLERY and other projects.