The Erawan Group Invests 580 Million Baht in its 4th Ibis Hotel Location

The Erawan Group Plc. has successfully acquired a 7-rai beachfront site located on Bophut beach at the northern tip of Samui Island to develop the first Ibis hotel on the island. This will be the group’s fourth Ibis Hotel following the Ibis Sathorn Bangkok, Ibis Pattaya and Ibis Patong Phuket. This is part of the company’s strategic plan to have 10 Ibis hotels in key destinations throughout Thailand by 2010. The Hotel Management Agreement for the Ibis Samui has also been signed with the Accor Group. The Ibis Samui will have 250 rooms located right on beautiful Bophut beach, which is fast developing as a preferred alternative to Chaweng. The Bophut area offers good entertainment with excellent bars, shops and restaurants located around the fisherman’s village with its unique local way of life. It is only a 10-minute drive from Samui International Airport. The Ibis Samui is targeted at budget travelers. The hotel is scheduled to open in the second quarter of 2008. Total investment, including land cost, is approximately 580 million Baht. Mr. Kasama Punyagupta, President and Chief Executive Officer of the Erawan Group, said: “We see high potential for the economy hotel segment on Samui Island as there is a limited number of rooms available to serve this segment, since most of the new hotels focus on the mid- to high-end segments. More importantly, the Ibis Samui will be the first international brand hotel in Samui’s economy hotel market. “With 250 rooms, the Ibis Samui will have the largest number of rooms on Samui island compared to other hotels that average less than 100 rooms. The hotel will be able to meet the demands of major international tour operators and travel agents, and we are confident that the Ibis Samui will capitalize on the strong tourism growth for Samui Island in the future,” Mr. Kasama added. Accor Asia Pacific Managing Director, Michael Issenberg, said that Ibis was the fastest-growing economy brand in Asia and its “quality at a value-for-money rate” approach to accommodation will make it a highly popular addition to Samui’s hotel sector. “Ibis is growing dramatically in countries such as China, India, Korea, Indonesia, Australia and Thailand, and with the growth in low-cost airline services across the region, it is the ideal brand to cater to the projected increase in travelers to the island,” he said. “Ibis was launched earlier this year in Bangkok and has attracted a strong domestic and international following, and we are certain that Ibis Samui will have a similarly positive reception.” About The Erawan Group Plc. The Erawan Group Plc., listed on the Stock Exchange of Thailand, owns two of Bangkok’s leading 5-star hotels – the Grand Hyatt Erawan Bangkok and the JW Marriott Bangkok – and a 5-star hotel on Koh Samui, now known as the Renaissance Koh Samui Resort & Spa, as well as three retail properties: the Erawan Bangkok, Amarin Plaza and Ploenchit Center. For information, please contact: Patawee Chaipatana or Satida Sritunyatorn Aziam Burson-Marsteller Tel: 0 2252 9871 or Email: [email protected]

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