The Hong Kong based New Nordic Group have announced that they have entered a memorandum of understanding with Best Western Hotels & Resorts for them to manage the Auran Marcus Hotel LLC project in Pratamnak Hill, Thailand.
This 152-room 4* Plus hotel is currently under development with a completion date of October 2020.
The association with Best Western Hotels & Resorts represents a significant strategy change for the New Nordic Group as it moves from operating properties that it develops, to also engaging with internationally branded and experienced managers and operators to enhance its product delivery.
The New Nordic Group will continue its traditional sales model of developing and selling condominium projects.
As a consequence of this additional business strategy, the New Nordic Group have established a wholly owned investment, development and marketing subsidiary under the brand Auran.
Auran will finance and develop this Hotel project as the key-holder and is the first of several funding activities that it will undertake.
The group has several properties across ASEAN under development, and Mr. Kurt Svendheim the founder, chairman and CEO of the group says,
“Our nine-year old organization has grown steadily in this time, and we feel with the agreement with Best Western Hotels & Resorts allows us to enter into a new and exciting phase of global growth.”