AWC signs agreement with Marriott International for The Ritz-Carlton Bangkok, The Riverside to transform heritage district at The Lhong 1919 and Songwat

Set against three sites in the heritage riverside district of Bangkok, The Ritz-Carlton Bangkok, The Riverside is expected feature a total of 166 rooms - with 86 rooms at The Lhong 1919 Riverside Heritage Destination, a historical riverside attraction, 24 rooms at 'The Shophouse-SongWad' and 56 rooms at 'The Mansion-SongWad', located across the Chao Phraya River from The Lhong 1919. Guests will be able to connect to all three sites by a special shuttle boat. Rooms at The Shophouse and The Mansion are expected to open in the first quarter of 2026 and The Lhong 1919 Riverside Heritage Destination in the first quarter of 2027.

Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited or AWC, states "We are delighted to continue our long-term partnership with Marriott International, a leading global hospitality group. Today's signing marks our second hotel in the development pipeline under The Ritz-Carlton brand in Thailand. This world-renowned hospitality hallmark brand expects to bring tremendous value to Bangkok's heritage riverside area to create long-term value for the surrounding communities and society by preserving the original value and structures of the buildings and art. Together with Marriott, we believe in embracing history, local culture, special architecture, sustainable value, top standard lifestyle services and integrated wellness offerings that positions Thailand as a unique destination for sustainable tourism.

The Ritz-Carlton Bangkok, The Riverside is expected to be AWC's 20th hotel and operating asset in Thailand managed by Marriott International. The hotel is anticipated to connect with other AWC projects situated by the Chao Phraya River under the River Journey concept, creating a unique riverfront experience in Thailand and a world-class riverside urban sanctuary and wellness destination that will attract health enthusiasts from all over the world."

Shawn Hill, Chief Development Officer, Asia Pacific, Marriott International, states, "We are pleased to extend our collaboration with AWC to expand our luxury footprint in Thailand with today's signing. AWC and Marriott International share similar values in attaining the highest standards in hospitality, and we are proud to play a strategic role in AWC's vision of expanding its diverse portfolio of hospitality and lifestyle projects in Thailand."

This signing follows AWC's announcement last year to develop "The Integrated Wellness Destination" under the River Journey concept, after AWC signed a lease to rent The Lhong 1919 Riverside Heritage Destination from Wang Lee Company Limited for approximately 64 years to build a better future together and create long term value for wellness tourism industry.

Inspired by the concept of Yin and Yang (Energy and Spirit), the design of The Ritz-Carlton Bangkok, The Riverside, will capture the essence of The Lhong 1919 Riverside Heritage Destination and its Thai-Chinese heritage architecture, culture and spirit, while on the opposite banks of the Chao Phraya River, the spirit of SongWad will capture authentic experiences, traditions and allow guests to discover their own stories. The property is expected to be Bangkok's first sustainable-focused hotel with holistic wellness offerings and luxury residence.

AWC is one of the largest owners of Marriott International properties in Asia Pacific (excluding Greater China) with 10 operating properties with almost 4,000 rooms. It is expected to double the presence by additional 4,000 rooms with 9 future projects in the pipeline in Thailand (including today's signed agreement). AWC expects to continue to further strengthen the long-term partnership with Marriott International to build a better future, while bolstering Thailand's competitiveness as a sustainable tourism destination together.

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