The Erawan Group

Last updated
The Erawan Group
Company type Public
SET:  ERW
Industry Retailing, Hotel management, Real estate
Founded29 December 1982 [1]
Headquarters Bangkok, Thailand
Key people
Mr. Petch Krainukul, President [2]
Products Shopping centers, department stores, hotels
Website www.theerawan.com

The Erawan Group Public Company Limited is a hospitality company of Thailand, formerly known as Amarin Plaza PCL. The company and its affiliates operate hotels, office buildings and shopping centers. The Erawan is headquartered in Bangkok and listed on the SET100 Index of the Stock Exchange of Thailand.

Contents

History

The Erawan Group was founded as the Amarin Plaza Company in 1982, a partnership between the Vongkusolkit and Wattanavekin families, in order to build and operate the Amarin Plaza shopping mall. It was the Vongkusolkits' first diversification into real estate, as the family, owners of the Mitr Phol Group, mainly did businesses in the sugar industry. The Wattanavekins were the founders of Kiatnakin Bank, and also had sugar and cane businesses. The project was conceived when Isara Vongkusolkit was offered a deal with the Srivikorn family, who owned the land on Phloen Chit Road near the Ratchaprasong Intersection. [3]

The company expanded into the hospitality industry in a government joint-venture to rebuild the Erawan Hotel, which neighboured Amarin Plaza. The company was listed on the Stock Exchange of Thailand (SET) in 1988 in order to raise capital for the project, which was opened as the Grand Hyatt Erawan in 1991. The company then expanded into further properties, opening the Ploenchit Center office building and the JW Marriott Hotel Bangkok in 1997. The company survived the 1997 financial crisis thanks to its hotels, which were able to quote prices in dollars and thus benefited from the baht's loss of value, but was still forced to offload several properties and offer preferred stock to WREP Thailand Holdings, a real estate fund of Singaporean/American investors. The company has since focused on the hospitality industry, which came to generate over 70 percent of its revenue by 2004, when the company was recategorized as such by the SET. [3]

As of 2010, the company is 39 percent owned by the Vongkusolkit family, 31 percent by the Wattanavekin family, and the remaining 30 percent is held by funds and individual investors. [4]

Operations

Erawan's business is organized into two areas:

The company has eight subsidiaries involved in property management and hospitality. [5]

Related Research Articles

<span class="mw-page-title-main">Hyatt</span> American multinational hospitality company

Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family.

Mitr Phol Group is Thailand's and Asia's biggest sugar and bio-energy producer.

Erawan is the Khmer and Thai name of the mythological elephant Airavata. The name may also refer to:

<span class="mw-page-title-main">Pathum Wan district</span> District in Bangkok, Thailand

Pathum Wan is one of the fifty districts (khet) of Bangkok, Thailand. It lies just beyond the old city boundary of Khlong Phadung Krung Kasem, and was a rural area on the eastern outskirts of the city when royal villas were built there in the late nineteenth century. The district was officially established in 1915, and covers an area of 8.37 square kilometres (3.23 sq mi). A large part of the district area is taken up by the campus of Chulalongkorn University and the green expanses of Lumphini Park and the Royal Bangkok Sports Club. By the turn of the 20th–21st centuries, the district had become known as the modern-day city centre, home to the prominent shopping areas of Siam and Ratchaprasong.

<span class="mw-page-title-main">Erawan Shrine</span> Shrine in Bangkok, Thailand

The Erawan Shrine, formally the Thao Maha Phrom Shrine, is a shrine in Bangkok, Thailand, which houses a statue of Phra Phrom, the Thai representation of Brahma, the Hindu god of creation. The name also refer to Mahabrahma, the ruler of the Brahma realm in Buddhist cosmology.

<span class="mw-page-title-main">JW Marriott Hotels</span> Mid luxury hotel brand

JW Marriott is an American luxury hotel brand owned by Marriott International.

<span class="mw-page-title-main">Regent Hotels & Resorts</span> Hotel chain

Regent Hotels & Resorts is a British-American luxury hospitality brand, founded by hotelier Robert H. Burns in 1970. After passing through different owners since foundation, it is currently jointly owned by IHG Hotels & Resorts and Formosa International Hotels Corporation since July 2018, with hotels and resorts in Asia and Europe.

<span class="mw-page-title-main">Ratchaprasong</span> Intersection and shopping district in Bangkok, Thailand

Ratchaprasong is the name of an intersection, and a shopping district named after it, in Pathum Wan District, Bangkok, adjacent to the Siam area, at the BTS Skytrain's Chit Lom Station and the intersection of Phloen Chit, Rama I, and Ratchadamri Roads. The area is home to many shopping malls and hotels.

<span class="mw-page-title-main">Gaysorn Village</span> Building in Bangkok, Thailand

Gaysorn Village is a building complex in the Ratchaprasong area of Bangkok. It also includes the Gaysorn Tower, an office tower block, and the Amarin Plaza shopping centre.

Amarin may refer to:

<span class="mw-page-title-main">Amarin Plaza</span> Shopping mall and office building complex in Bangkok

Amarin Plaza, currently rebranding as Gaysorn Amarin (เกษรอัมรินทร์), is a shopping mall and office building complex located in the Ratchaprasong shopping district in the city centre of Bangkok. It comprises a five-storey shopping mall podium with over 300 shops, above which rises the twenty-two-storey Amarin Tower.

Minor International is a Thai multi-national company based in Bangkok, Thailand. The three core businesses of Minor International are hospitality, restaurants, and lifestyle brands distribution, operated under subsidiary companies Minor Hotels, Minor Food, and Minor Lifestyle, respectively.

BTS Group Holdings Public Company Limited (BTSG), formerly known as Tanayong Public Company Limited, is a public company in Thailand. It is the majority share holder of Bangkok Mass Transit System PCL (BTSC), the operator of the BTS Skytrain and the Bangkok BRT.

Charoen Sirivadhanabhakdi is a Thai business magnate and investor.

<span class="mw-page-title-main">Minor Hotels</span> International hotel operator

Minor Hotels is an international hotel owner, operator, and investor headquartered in Bangkok, Thailand, with more than 530 hotels in over 55 countries across Asia-Pacific, the Middle East, Africa, the Indian Ocean, Europe, and the Americas. Minor Hotels operates as a subsidiary of Minor International, one of the largest hospitality and leisure companies in the Asia-Pacific region. The group operates hotels under the brands of Anantara Hotels, Resorts & Spas, Avani Hotels & Resorts, Elewana Collection, Oaks Hotels, Resorts & Suites, NH Hotels, NH Collection, nhow Hotels, and Tivoli Hotels & Resorts.

<span class="mw-page-title-main">Central Embassy</span> Shopping mall in Bangkok, Thailand

Central Embassy is a shopping mall in Bangkok. It was constructed on the site of the former British Embassy gardens and is located at the junction of Witthayu Road (Wireless) and Phloen Chit Road. It is a project of the Thai conglomerate Central Group.

<span class="mw-page-title-main">Southwest Value Partners</span>

Southwest Value Partners (SWVP) is an American, privately held real estate investment company. It is headquartered in San Diego, with offices in Scottsdale, Tucson and Nashville.

<span class="mw-page-title-main">Erawan Hotel</span> Former hotel in Bangkok, Thailand

The Erawan Hotel was a luxury hotel in the Thai capital Bangkok. It was one of the first modern hotels built to accommodate the expansion of international air travel, and was operated by the government-owned company The Syndicate of Thai Hotels and Tourists Enterprises. It opened in 1956, following many delays which prompted the construction of the Erawan Shrine to ward off bad fortune. After initial struggles, the hotel prospered in the 1960s under the management of Chalermchai Charuvastr, who featured a Thai atmosphere in its decor and services, but declined in the following decades as it faced rising competition. The hotel stood until 1988, when it was demolished for redevelopment under a private joint venture. It reopened in 1991 as the Grand Hyatt Erawan.

<span class="mw-page-title-main">Grand Hyatt Erawan Bangkok</span> Luxury hotel in Bangkok, Thailand

The Grand Hyatt Erawan Bangkok is a luxury hotel in Bangkok, Thailand. It opened in 1991, replacing the ailing government-owned Erawan Hotel, on a corner of Ratchaprasong Intersection in the modern city centre. It is jointly owned by Thai hospitality company The Erawan Group and the government-owned company The Syndicate of Thai Hotels and Tourists Enterprises, which previously operated the Erawan, and is managed by Hyatt Hotels and Resorts. The hotel building was designed by Rangsan Torsuwan in a postmodern style employing traditional Thai elements, and features a shopping mall inside the building, known as Erawan Bangkok. The property is adjacent to the popular Erawan Shrine, which was built to alleviate bad luck during the construction of the original hotel.

References

  1. "Corporate Milestones". The Erawan Group. Archived from the original on 25 November 2015. Retrieved 25 November 2015.
  2. "Management Team". The Erawan Group. Retrieved 25 November 2015.
  3. 1 2 สุภัทธา สุขชู (August 2006). "ดิ เอราวัณ เต็มไปด้วยบทเรียน". Manager. Archived from the original on 24 November 2019. Retrieved 4 September 2021.
  4. "เอราวัณปฏิเสธหนุนเสื้อแดง". Post Today (in Thai). 9 April 2010. Retrieved 6 September 2021.
  5. "The Erawan Group PCL". Gogole Finance. Archived from the original on 19 August 2007.

Further reading