UHG knows how to dodge competitors

Focusing on leasehold, compromising with landlords and developing projects with attractive designs have been the keys to success driving commercial developer UHG to grow its portfolio from 1 billion baht to 14 billion within a decade.

Managing director Wutthiphon Taworntawat said UHG was able to expand from one hotel, Evergreen Place Siam valued at 1 billion baht, in late 2010 to 11 hotels worth a combined 14 billion at the end of last year as most are located on leasehold plots.

“Leasing properties or land to use for hotels can help us invest and develop many projects in a shorter period, as leasehold requires less investment than freehold, particularly for properties in prime locations where land prices are high,” he said.

Freehold land…