Raffles International wins management contract to operate Nai Lert Park Hotel in Bangkok

Raffles International has signed a management agreement with Nai Lert Park Hotel Co., Ltd. today to operate the Nai Lert Park Hotel in Bangkok.

Under the terms of the contract, Raffles International Thailand will manage this 338-room hotel from January 2004. Presently operating as Hilton International Bangkok at Nai Lert Park, the hotel will be renamed as "Nai Lert Park, Bangkok", with the tag line "A Raffles International Hotel".

Ms Chua said: "We are delighted to have been appointed the new operator of Nai Lert Park Hotel from January next year. This management agreement fits into our strategic objective of expanding our geographical footprint and pursuing asset light growth in gateway cities. Thailand continues to be an exciting destination with increasing tourist arrivals year on year"

According to the Tourism Authority of Thailand (TAT), 10.8 million tourists visited the country last year. This was an increase of 7.3% from 2001.

 Mr. Prakit Pradipasena, Chairman of the Board of Directors, Nai Lert Park Hotel Co., Ltd., said, "We are very pleased to be a partner working with a of well-respected international hotel chain  such as Raffles International. With its proven track record of operating successful hotels which are leaders in their respective competitive sets, we are confident that Nai Lert Park, Bangkok is in good hands."

This management agreement comes just two months after Raffles International Ltd. signed a lease agreement with the Nankai Electric Railway Co. to operate the Swissôtel Osaka Nankai in Japan. The contract for Nai Lert Park Bangkok is yet another important step in furthering the Group' strategic objectives of expanding its geographical footprint and pursuing asset light growth in gateway cities.

Raffles International Ltd. manages hotels and resorts under two brands, namely Raffles Hotels & Resorts and Swissôtel Hotels & Resorts. With the addition of Nai Lert Park, Bangkok, the Swissôtel portfolio now expands to 27 hotels worldwide.

See also: Hilton ends management of Hilton Bangkok and announces new resort in Phuket