North Sathorn Hotel Company, a joint venture between Istithmar Hotels FTZ and Golden Land Property Development, has awarded Starwood the management contract to operate its 400-room hotel opening in Bangkok in 2011.
The hotel, part of Sathorn Square, a mixed-use development at the core of the city's commercial and diplomatic centre, will be be managed under Starwood's W brand.
"Southeast Asia is a strat-egically important region for Istithmar Hotels, and Bangkok is one of our key target markets. We continue to look for projects that offer us the right balance between risk and rewards as we expand operations across the globe," said Joe Sita, chief executive of Dubai-based Istithmar Hotels.
"The W Bangkok will occupy a prime site in the heart of the city and thus deserves a world-class brand to operate the hotel. W is that brand and we are delighted to have reached an agreement with Starwood," he said.
Sita said the W Bangkok is the company's second W Hotels property in Thailand and will complement its first project, the W Retreat and Residences in Koh Sumai, currently under development.
The W Bangkok will be located in the prime business district of Sathorn, an area with a high concentration of luxury hotels.
Golden Land's Sathorn Square includes a 750,000 square foot office tower and a variety of retail shops. The company said the new hotel will meet the needs of Bangkok's bustling business district, offering 30,000 square feet of space.
"Set against the magnificent backdrop of Thailand's thriving cosmopolitan metropolis, W Bangkok will reflect the excitement, energy and sophistication of its surroundings," said Ross Klein, president of Starwood's Luxury Brands Group. ( Gulf )