Erawan Group

What Erawan Group does

The Erawan Group Public Company Limited is a publicly listed Thai hotel investor, developer, and operator headquartered in Bangkok, trading on the Stock Exchange of Thailand under ticker ERW. Founded in 1982 and listed in 1994, the company operates a diversified hospitality portfolio spanning luxury, midscale, economy, and budget segments across Thailand, Japan, the Philippines, and South Korea — collectively 90+ properties and 10,000+ hotel keys. The portfolio is anchored by flagship luxury assets (Grand Hyatt Erawan Bangkok, JW Marriott Hotel Bangkok, The Naka Island Phuket) operated under global brand management agreements with Hyatt, Marriott, and Accor, complemented by a midscale and economy tier (Courtyard by Marriott, Holiday Inn, Novotel, Mercure, ibis, ibis styles) and the proprietary HOP INN budget brand, which is the company's owned and most-scaled asset class. Erawan Group also operates the Erawan Bangkok retail and office complex at Ratchaprasong, adding ~6,554 square meters of leasable space across 5 floors to its commercial real estate footprint.

The company's revenue model is built on hotel operations (room rentals plus food and beverage across hotel restaurants such as Salvia, JW Cafe, Man Ho, Red Square Rooftop Bar, and GASTON) and ancillary leasing income. Distribution is multi-channel: international brand reservation systems (Hyatt, Marriott, Accor), direct bookings via brand websites, third-party OTAs (Booking.com, Expedia, Agoda), and direct leasing for Erawan Bangkok. Pricing spans HOP INN's ~550 THB-per-night budget tier to premium rates at flagship luxury properties, with the segment mix oriented to volume at budget and margin at luxury. Customer base is highly diversified — thousands of daily hotel guests across three travel segments (luxury, midscale, budget) plus multi-tenant retail and office leasing. Growth has been driven by organic openings, the 2023 entry into Japan (4 properties, 373 keys via ~1.7B THB of acquisitions and leases), HOP INN's expansion across Thailand, Philippines, Japan, and Korea, and a 2021 rights offering that raised 2.014 billion THB at 147% oversubscription. The company has committed to billions in capital expenditure for 2026 expansion across luxury, MICE, and budget segments, enabled by Thailand's projected 32.9 million foreign arrivals in 2025.

Name

Erawan Group

Legal name

The Erawan Group Public Company Limited

Website

https://theerawan.com

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Erawan Group is a publicly listed Thai hotel investor, developer, and operator with 90+ properties (10,000+ keys) across luxury, midscale, economy, and budget segments in Thailand, Japan, the Philippines, and South Korea, plus retail and office leasing at Erawan Bangkok.

Ownership category

akta.pro rank

Product category

Hospitality Services

NAICS

Traveler Accommodation (7211), Real Estate Property Managers (53131)

SIC

Hotels & Motels (7011), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Hospitality (Hotel) Property Management (BPAJAGAG)

Keywords

• Hotel investment
• Hotel operations
• Hospitality services
• Commercial property leasing
• Budget hotel brand

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Hotel Operations: Revenue from hotel room rentals and related hospitality services across luxury, midscale, economy, and budget hotel segments.
2. Restaurants: Revenue from restaurants and dining establishments within hotel properties including Salvia, Tea Tree Spa, The Collective, Nami Teppanyaki Steakhouse, Man Ho Chinese Restaurant, Red Square Rooftop Bar, JW Cafe, and GASTON.
3. Leasing Business: Revenue from rental space business including retail and office buildings such as Erawan Bangkok shopping center with approximately 6,554 square meters of leasable space across 5 floors.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

Erawan Group is a hotel investor, developer, and operator managing a diversified portfolio of more than 10,000 hotel keys across Thailand, Japan, the Philippines, and South Korea through international brand partnerships (Hyatt, Marriott, Accor, IHG) and its own HOP INN budget brand. The group also operates the Erawan Bangkok retail and office leasing business (approximately 6,554 square meters) and restaurants within its hotel properties.

Product overview

Erawan Group operates a diversified hospitality portfolio spanning the full spectrum from luxury to budget segments across Thailand, Japan, Philippines, and South Korea. The company's hotel portfolio includes 3 luxury properties (Grand Hyatt Erawan Bangkok, JW Marriott Hotel Bangkok, The Naka Island Resort & Spa Phuket), midscale hotels under Courtyard by Marriott, Holiday Inn, Novotel, and Mercure brands, economy hotels under ibis and ibis styles brands, and budget hotels under the HOP INN brand with 86 properties across 4 countries. Beyond hotels, the group operates the Erawan Bangkok retail and office building at Ratchaprasong, and manages restaurant outlets within its hotel properties.

Differentiator

Problem solved

Functional benefit

Brands

• HOP INN: Budget hotel brand operating across Thailand, Philippines, Japan and planned expansion throughout Asia Pacific.
• Erawan Bangkok

Products and services

• Grand Hyatt Erawan Bangkok Five-star luxury hotel with 380 keys located at Ratchaprasong intersection in Bangkok, managed under the Hyatt brand.
• JW Marriott Hotel Bangkok Five-star luxury hotel with 441 keys on Sukhumvit 2 Road in Bangkok, managed under the Marriott brand.
• The Naka Island, a Luxury Collection Resort & Spa, Phuket Luxury pool villa resort with 90 keys on Naka Yai Island near Phuket, managed under The Luxury Collection by Marriott.
• Courtyard by Marriott Bangkok Midscale hotel with 316 keys on Ratchadamri Road in Bangkok, managed under the Marriott brand.
• Holiday Inn Pattaya Beachfront midscale hotel with 531 keys on Pattaya Sai 1 Road in Chonburi province.
• Holiday Inn Cebu City Midscale hotel with 180 keys located in Cebu City, Philippines.
• Novotel Bangkok Sukhumvit 4 Midscale hotel with 185 keys on Sukhumvit 4 Road in Bangkok, managed under the Accor brand.
• Mercure Bangkok Midscale hotel brand operated across 3 properties with 600 keys in Bangkok, managed under the Accor brand.
• ibis Styles Bangkok Economy hotel brand with 133 keys offering standardized budget accommodations under the Accor brand.
• ibis Bangkok Economy hotel brand operated across 7 properties with 1,680 keys in Bangkok, managed under the Accor brand.
• HOP INN Thailand Budget hotel brand operated across 71 properties with 5,643 keys throughout Thailand, positioned as an affordable accommodation option.
• HOP INN Philippines Budget hotel brand operated across 10 properties with 1,780 keys in the Philippines.
• HOP INN Japan Budget hotel brand operated across 4 properties with 373 keys in Japan (Tokyo and Kyoto).
• HOP INN Korea Budget hotel brand with 1 property and 97 keys in South Korea.
• Erawan Bangkok (Retail & Office Building) Retail and office space complex at Ratchaprasong intersection in Bangkok, offering approximately 6,554 square meters of leasable space across 5 floors, surrounded by five-star hotels and shopping destinations.

Quantifiable outcome

• Thailand projected 32.9 million foreign arrivals in 2025 provides market opportunity

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Asset World Corp (AWC)minorStrategic or Co-development Partner · 12 March 2026Thai hospitality operator committed to 2026 expansion; Erawan Group coordinating expansion strategy alongside other major Thai hospitality operators despite Middle East geopolitical headwinds
• Centara Hotels & ResortsminorStrategic or Co-development Partner · 12 March 2026Thai hospitality operator announcing 16 billion baht three-year investment plan including 2 billion baht for acquisitions targeting Japan, Vietnam, and Nepal; Erawan Group coordinating expansion alongside Centara
• S Hotels & Resorts (SHR)minorStrategic or Co-development Partner · 12 March 2026Thai hospitality operator executing asset rotation strategy to offload 15 UK properties and reinvest proceeds into Thailand and rebranded hotels targeting 30% ADR increase; Erawan Group coordinating expansion alongside SHR
• Hyatt Hotels & ResortscoreChannel Partner/ Reseller/ DistributorGrand Hyatt Erawan Bangkok operated under Hyatt brand management; Erawan Group as hotel investor/owner with Hyatt providing hotel management and brand distribution
• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorJW Marriott Hotel Bangkok and Courtyard by Marriott Bangkok operated under Marriott brand management; Erawan Group as hotel investor/owner with Marriott providing global distribution and brand management
• Accor (Holiday Inn, Novotel, Mercure, ibis)coreChannel Partner/ Reseller/ DistributorMultiple hotels including Holiday Inn Pattaya, Holiday Inn Cebu City, Novotel Bangkok Sukhumvit 4, Mercure, ibis styles, and ibis operated under Accor brand management; Erawan Group as hotel investor/owner with Accor providing international brand distribution
• The Luxury Collection (Marriott)coreChannel Partner/ Reseller/ DistributorThe Naka Island, a Luxury Collection Resort & Spa, Phuket operated under The Luxury Collection brand; originally signed with Starwood (now Marriott) in 2011 for luxury resort management

Scale indicators4 records

Recent moves14 records

Expansion highlights5 records

Broad incumbents

• Hyatt Hotels & Resorts: Global hotel operator managing the Grand Hyatt Erawan Bangkok under brand partnership. Strategic partner but also competing for similar luxury hotel investment opportunities in Thailand and Asia-Pacific.
• Minor International (MINT): Thailand's largest hospitality conglomerate with Anantara, AVANI, Oaks, and NH Hotel brands plus food and lifestyle businesses. Larger and more diversified than Erawan, with broader regional footprint and food/lifestyle operations.
• Marriott International: Global hotel giant operating JW Marriott, Courtyard, The Luxury Collection brands that Erawan uses for management agreements. Functions as both partner and competitive threat as Marriott increasingly develops owned and managed properties in Thailand.
• Accor: Global hospitality group operating Novotel, Mercure, ibis, ibis styles, and Holiday Inn brands that Erawan uses for management. Major partner but also a global competitor developing hotel assets throughout Southeast Asia.

Regional players

• Shangri-La Hotels and Resorts: Asian-based luxury hotel operator with extensive presence across Southeast Asia, particularly in Thailand, Philippines, and other regional markets. Competes with Erawan's luxury properties (Grand Hyatt Erawan, JW Marriott Bangkok, Naka Island Phuket) for premium travelers.

Emerging players

• Louvre Hotels Group: European budget and midscale hotel operator (part of Jin Jiang International) with growing Asia-Pacific presence. Comparable to Erawan's HOP INN budget brand and Accor midscale portfolio in the price-conscious traveler segment.

Direct peers

• Asset World Corp (AWC): Major Thai hospitality operator and developer (backed by TCC Group) with luxury hotels, MICE venues, and integrated resort properties. Directly competes with Erawan in Thailand's premium hotel segment and is coordinating parallel 2026 expansion plans.
• Centara Hotels & Resorts: Thailand's largest hotel operator with full-spectrum luxury to budget properties. Direct competitor across all of Erawan's segments and a fellow 2026 expansion player, with a 16 billion THB three-year investment plan.
• S Hotels & Resorts (SHR): Thai-listed hotel investor and operator (subsidiary of Singha Estate) focused on asset rotation across Thailand and international markets. Competes in Thailand hospitality with parallel 2026 expansion strategy targeting 30% ADR increases.
• Dusit Thani: Long-established Thai luxury hotel operator with Dusit Thani, dusitD2, and ASAI brands. Direct competitor in Thailand's luxury and midscale segments with growing international footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Erawan Group