IMPACT unveils plans to transform Muang Thong Thani into MICE hub

TUESDAY, FEBRUARY 04, 2025
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Five billion baht earmarked to build two new hotels so Muang Thong Thani can host international events and entertainment

 

IMPACT Exhibition Management Co Ltd is set to invest 5 billion baht in the construction of two new hotels, to transform Muang Thong Thani into a leading MICE (meetings, incentives, conventions and exhibitions) tourism and entertainment hub. 

 

This investment is part of a broader strategy to position the complex as a contender for the government's proposed 100-billion-baht entertainment complex mega-project.

 

At a media roundtable on Tuesday, Paul Kanjanapas, CEO of IMPACT Exhibition Management and property manager of IMPACT Growth Real Estate Investment Trust, shared that while the company had originally planned for the entertainment complex in 2024, development is now focusing on hotel expansion due to uncertainties surrounding government directives. 

 

Paul Kanjanapas

 

“The timeline for the entertainment complex project remains uncertain. IMPACT is not waiting for this particular opportunity and has expanded the Muang Thong Thani complex to accommodate more MICE tourists,” Paul said. 

 

The 4-5 billion baht investment will add 1,000 hotel rooms this year, consisting of a five-star hotel with over 300 rooms and a four-star property with more than 600 rooms. The company envisions expanding its total room capacity to 2,000 by 2028, with further increases to 3,000 rooms by 2030 and 5,000 by 2035.

 

 

Currently, IMPACT operates two properties: a four-star Novotel with 380 rooms and a three-star Ibis with 550 rooms, both maintaining occupancy rates of 50-60%. The expansion will be partially funded through the sale of these existing hotels to the trust for 2-2.5 billion baht.

 

IMPACT unveils plans to transform Muang Thong Thani into MICE hub

 

“Previously, IMPACT had to refuse major events due to limited hotel capacity, but the development of new hotels will increase our ability to host large-scale events,” Paul said. 

 

IMPACT unveils plans to transform Muang Thong Thani into MICE hub

 

The company projects around 25% revenue growth for the IMPACT Growth REIT in fiscal 2024, ending March 31, 2025, driven by a resurgence in MICE activities and concerts. The IMPACT Arena has witnessed a 20% year-on-year growth, with full bookings for 2024 exceeding pre-pandemic levels. 
 

 

IMPACT unveils plans to transform Muang Thong Thani into MICE hub

 

Looking ahead to 2025, IMPACT aims to establish Muang Thong Thani as Asia's leading MICE tourism destination. The complex spans 4,700 rai and includes key venues such as the IMPACT Arena, Challenger, Forum, and Exhibition and Convention Centre.

 

Transport connectivity will be enhanced with the opening of two Pink Line electric train stations in May 2025, following IMPACT's 1.2-billion-baht co-investment in the project. The complex welcomed nearly 10 million visitors in 2024 and is expanding its international reach, particularly targeting Chinese and Indian markets.

 

IMPACT unveils plans to transform Muang Thong Thani into MICE hub

 

“With IMPACT's potential and infrastructure in place, similar to the integrated resort model in Singapore and Las Vegas, we are preparing to position ourselves as a prime contender for Thailand's Entertainment Complex. Ideally, foreign investment will flow in to further develop the area into a comprehensive destination,” Paul concluded.