Kirimaya Co, the operator of Kirimaya golf resort and spa in Khao Yai, Nakhon Ratchasima, is set to invest 2 billion baht in the development of an ultra-luxury wellness project in Khao Yai next year.
Chief executive Kitti Thanakitamnuay said the company will build a new ultra-luxury villa for the wellness market on a 300-rai plot of land in the same area as Kirimaya golf resort and spa in Khao Yai next year.
The investment, excluding the cost of the land, is estimated at 2 billion baht.
Currently, the company is in the process of designing the project. It is targeting mainly tourists, particularly from Singapore, Malaysia, Japan and South Korea.
Currently, Kirimaya operates three hotels and one condominium with a total of 600 rooms.
"We've upgraded Khao Yai's hotel industry to the luxury market by developing Kirimaya golf resort and spa over the past 20 years, boosting the land price there to 15-20 million baht per rai from 100,000 baht a rai and created many jobs in the related tourism business for local people in Khao Yai community," said Mr Kitti.
According to Mr Kitti, some 40% of 1,200 rai of Kirimaya's land plot land has been now developed.
"The ultra-luxury wellness project will bring Khao Yai's tourism market to a new turning point. Khao Yai's ultra-wellness project would be the last project development under my own generation,'' Mr Kitti said, adding he has already built Kirimaya a strong foundation and good brand recognition of natural friendliness.
"With the brand and resources we have, Kirimaya can establish anywhere both domestic and overseas. I have been urged by many people to continue building up Kirimaya, but after the ultra-luxury wellness project, it will depend on the second generation. After this, I will function just as the supporter,'' Mr Kitti said.
Mr Kitti admitted that Kirimaya has without exception felt a huge impact from the Covid-19 pandemic during the state lockdown, but he said the business has rapidly recovered after the easing of the restrictions, noting that the majority of its customers are local people, not foreigners.
Currently, the occupancy rate at its three hotels is around 70-80%.
"For me, the Tom Yum Kung 1997 financial crisis was harsher than the Covid-19 outbreaks," he said.
"Through my working life, I've faced many kinds of crises until I take it as a normal situation. I have never been afraid of investment despite the crisis. We have to retain our positive energy amid the crisis and never give up. Khao Yai is believed to recover in this festive season."
According to Mr Kitti, he also supports the government's announcement to reopen the country, saying that reopening will bring people's lives and businesses back to normal.
"In its best bid to protect our staff and customers, we have provided antigen test kit tests every week," he said.
"However, the government is to take fast and immediate action once it has found new clusters of infections after the country's reopening."
