CP LAND PLC, a subsidiary of Charoen Pokphand Group, plans enter into a joint venture with PTT Plc to open budget hotels at petrol stations nationwide to serve the increasing number of motorists.
CP Land is also expanding its four star-hotel chain "Fortune" and building a new convention centre in Khon Kaen. Moving into the hospitality sector, the country's largest conglomerate aims to cash in on growing tourism which now accounts for 16 per cent of national gross domestic product.
Naravadee Waravanitcha, executive vice president for investment and hotel management at CP Land Plc, said she would meet with executives of PTT this week to discuss cooperation in building budget hotels at PTT petrol stations.
CP Land will propose to PTT to select 50 PTT oil stations out of 1,400 stations nationwide for building budget hotels branded "Fortune D".
CP Land and PTT, however, may consider creating a new hotel chain if they do not agree on the proposed brand.
"The new hotel projects are aimed at serving motorists particularly at prime-road traffic locations. Each room will feature entertainment from True Vision [another business unit of CP Group], fresh coffee and flexible one meal and check-out times," she said. Rooms at PTT stations will be priced at Bt700 per night.
Aside from Fortune D projects at PTT stations, CP Land is expanding the chain into a new tourist destination, including Chiang Khong in Chiang Rai province.
She said Chiang Rai has the potential to help boost the country's economy, cross-border trading and tourism, investment, and logistics management as the province is the gateway to Thailand and neighbouring countries in the greater Mekong Sub-region.
"Chiang Rai has high potential to become medical and health tourism, as well as agriculture and logistics hubs due to good infrastructure," she added.