One Origin’s new joint venture in Bangkok targets long- and short-term stays

The project, called "One Origin Sukhumvit 24" in Bangkok, will target both long and short-term stays.

One Origin's CEO, Piti Jarukamjorn, said at a press conference on Tuesday that the project was the latest mixed-use hotel and serviced apartment along with a community mall in the Phrom Phong area, the heart of Bangkok's business and high-end shopping district.

He explained that the collaboration was a result of the promising demand for long-stays, particularly among Japanese people, while foreign tourists have gradually increased to support the short-stay demand.

"With Nomura, Japan's leading developer, its expertise helps One Origin build a place that meets the target group's demand," he said, adding that the project, which had a soft launch in February, was very well received.

He noted that the occupancy rate had kept growing steadily. The new Staybridge Suites Bangkok Sukhumvit has received pre-booking and reservation accounts since its opening at the beginning of 2023.

The project comprises Staybridge Suites Bangkok Sukhumvit, the second Staybridge Suites hotel and serviced apartment in Thailand and Asia Pacific, and “Neighbor 24”, a new brand of community mall with a variety of Japanese stores, restaurants, spa and onsen, he added.

“This project is located in the midst of Sukhumvit Soi 24. Being close to the BTS Phrom Phong station makes it the top choice for all business travellers and expats. It is also close to the highway, making it simple to commute to the Eastern Economic Corridor,” he said.
 

Naomi Endo, managing director of Nomura Real Estate (Thailand), the leading real estate developer in Japan, said One Origin Sukhumvit 24 is the second recurring-income project under the joint venture between Nomura and One Origin in Thailand.

He said Nomura was confident of the InterContinental Hotels Group brand and the potential of the Phrom Phong area, which is in high demand among foreigners, especially Japanese businessmen.

"Phrom Phong is a popular destination for foreigners looking for a new experience. Staybridge Suites Bangkok Sukhumvit is available to meet the needs of business travellers and local organisations. Neighbour 24 offers the best selection of stores, restaurants, and wellness services to ensure that our daily needs are met," he said. 

Nomura was confident that its expertise and that of its partners would assist One Origin Sukhumvit 24 in providing the best experience for all guests and customers, he added.

He believes that the Thailand property industry has room to expand. However, it is the job of all developers to find the right target, the right product, the right partners and the right location.

Rajit Sukumaran, IHG managing director, Southeast Asia and Korea, said that both One Origin and IHG have shared the same vision to offer a full service with the same standard for 4 to 5-star hotels.

"IHG is proud to play an important role in assisting One Origin to grow its portfolio with unique services and create the lifestyle that differs from other tourism hotels as we focus on delivering the best long-stay experiences and serving demand for conference sites in the city’s centre," he said.

"Our collaborative relationship has been strengthened by IHG and One Origin's partnership in the Staybridge Suites Bangkok Sukhumvit project. It is also a key driver of our expansion in Thailand and Asia Pacific," he said, adding that Thailand remains one of IHG's fastest recovering markets.

After the execution of its most recent project, One Origin operates 1,061 hotel rooms.

Meanwhile, the company plans to open three hotels in Bangkok and Rayong by the end of this year or early next year.