The lion's share will be spent on building Bangkok Midtown hotel on a 10-rai plot on Phetchaburi Road. The 100-room budget hotel targeting Chinese tourists is due to open in the middle of next year, said Jarujit Baiyoke, assistant to the chairman of Baiyoke Group.
After that the group will start the construction of a four-star hotel with 80 rooms on Ratchadaphisek Road by the end of next year. Baiyoke also plans to hold the grand opening of Baiyoke Seacoast Samui in tambon Bophut, Koh Samui next year. The group took over the resort from the wife of Mitsuo Shibahashi, formerly known as Phra Mitsuo Gavesako.
"The resort is now under renovation but is still open for business with over 80 rooms and villas," she said. Apart from the hotel expansion, Ms Jarujit said the group also planned to expand its food business by operating the franchise of South Korea's Sweet Monster soft ice cream. It currently has Sweet Monster outlets at J Avenue on Thong Lor Soi 15 and Siam Paragon.