Nathee Nithivasin, managing director of Narai Hotel.
Narai Hotel plans to build two new hotels on Silom Road by 2026, with an investment budget of 800 million to 1 billion baht, to replace the existing 54-year-old hotel.
Nathee Nithivasin, managing director of Narai Hotel, said the new project is meant to maintain the status of Narai Hotel as a Silom landmark.
Narai Hotel, which was established in 1968, closed on Feb 18 to prepare for the construction.
Mr Nathee said he could not reveal whether the company is fully investing on its own or creating a joint venture with a partner.
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