INNOVATION IN THE MANAGEMENT OF THAI HOTEL CHAINS IN LH MALL & HOTEL CO., LTD. WITHOUT RELYING ON INTERNATIONAL HOTEL CHAINS TOWORDS SUSTAINABILITY: A CASE STUDY OF GRANDE CENTRE POINT SPACE, PATTAYA

Abstract

The study aimed to: 1) investigate the innovation in the management of Thai hotel chains under LHMH without relying on international hotel chains, 2) to examine the success factors of sustainable management of Thai hotel chains on the Grande Centre Point Space, Pattaya, and 3) to develop a success model, that can be applied to medium and small-sized hotels in Thailand. The results found that this innovation centers on integrated services business model, which includes: 1) Real Estate Development, 2) Brand Operations, and 3) Asset and Fund Management. It is important to promote the success of the hotel. The study identified five key success factors for the sustainable management of Thai chain hotels, without reliance on international chains, as demonstrated by Grande Centre Point Space, Pattaya: 1) Location: The location must be excellent, with an investment of more than 20% of the total budget, 2) Giant Scale: The hotel should be large, with a capacity of 500 rooms or more, 3) Personnel: The use of outsourcing for staffing, hiring personnel from specialized companies, 4) Independence from Inter-Chains, and 5) Real Estate Investment Plus (REIP): The hotel aims for a profit margin of 10% or more, with 15% considered very successful.