FRIDAY, March 29, 2024
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Montara chain unveils Bt100m Praya Palazzo 

Montara chain unveils Bt100m Praya Palazzo 

A PRICE TAG of Bt100 million may sound steep for a 17-room historical mansion but for the Montara hotel chain, it is an amount it can pay by itself in no time.

“My father Narong is known for preserving old buildings in Thailand,” says Kittisak Pattamassaev, son of the tycoon who restored two heritage homes in Lampang province and who owns Phuket’s famed luxury Trisara beach hotel.
“Like Trisara, we can command a premium because we have a unique product. We are providing something no one else can,” he said of the newly acquired Praya Palazzo boutique hotel, formerly a nobleman’s villa built about 100 years ago.
“The return on investment will come not just from the classically decorated rooms but also banquet events such as morning tea, which costs about Bt200,000,” says general manager Nopporn Jetsadajaratkil.
“Demand is high for the use of our large riverfront gardens for weddings and birthdays or engagement parties. A wedding easily goes for Bt1 million,” he added.
A number of such events each month will quickly allow Montara to be operating comfortably, said Kittisak, who graduated from Harvard Business School.
“Our concept is to conserve historical buildings but allow them to pay for themselves,” he said. “That’s a more practical way of sustaining the conservation effort through the years.”

Peaceful retreat
“Not every restored property can be turned into a museum,” he added, though one of his father’s Lampang villas have been turned into an art gallery.
The romantic setting of Praya Palazzo with its classical Italian design near the Rama VIII Bridge takes visitors back in time when things were charming and quieter, more peaceful,” said Kittisak.
While the location is only accessible by boat, it provides the feeling of privacy in the middle of the city, he added. The Palazzo is one of two recent purchases by Narong’s Montara chain to capture a share of Bangkok’s upscale hotel market.
A second property in Bang Rak district’s old riverfront site will be announced early next year, Kittisak said. The project, also a heritage site, is currently under renovation. “Today Montara holds the prime position of being one of Phuket’s top-end hotels because we can charge US$1,000 or Bt33,000 per room.”
Kittisak is chief commercial officer of the hospitality chain that his father established with veteran hotelier Bill Black four years ago.
The prize-winning restoration of Palazzo was a 20-year effort by the late architect, Wichai Pitakworrarat.
It was given the top conservation award by the Association of Siamese Architects in 2011. The hotel reopened last month.
The restoration retains the original teak furnishings including flooring, windows, doors and beams.
“In many ways, it is priceless,” said Kittisak. “We feel blessed to be doing something that is both culturally uplifting and economically profitable at the same time.”
 

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