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IMPACT Unveils 5-Billion-Baht Plan to Transform Muang Thong Thani into a MICE Hub
The developer to add 1,000 hotel rooms and boost connectivity as part of a broader strategy to attract international events and compete for a 100-billion-baht entertainment complex project.
IMPACT Exhibition Management Co Ltd announced on Tuesday a 5-billion-baht investment to construct two new hotels at Muang Thong Thani, aiming to transform the complex into a leading meetings, incentives, conventions, and exhibitions (MICE) tourism and entertainment hub.
This project forms part of a broader strategy to position Muang Thong Thani as a contender for the government’s proposed 100-billion-baht entertainment complex mega-project.
At a media roundtable, IMPACT CEO Paul Kanjanapas, who also manages the IMPACT Growth Real Estate Investment Trust, detailed plans to add 1,000 hotel rooms this year.
The expansion will include a five-star hotel with over 300 rooms and a four-star hotel with more than 600 rooms, with long-term targets to boost total room capacity to 2,000 by 2028, 3,000 by 2030, and 5,000 by 2035. Currently, IMPACT operates a four-star Novotel with 380 rooms and a three-star Ibis with 550 rooms, both of which have occupancy rates between 50 and 60 percent.
The expansion will be partially funded through the sale of these existing properties to the trust, with proceeds estimated between 2 and 2.5 billion baht.
Kanjanapas noted that limited hotel capacity had previously forced the company to decline major events, and the new development is expected to support a projected 25 percent revenue growth for the IMPACT Growth REIT in fiscal 2024, ending March 31, 2025. The IMPACT Arena has already experienced a 20 percent year-on-year growth, with bookings for 2024 surpassing pre-pandemic levels.
The Muang Thong Thani complex, spanning 4,700 rai, includes key venues such as the IMPACT Arena, Challenger, Forum, and Exhibition and Convention Centre.
In addition, transport connectivity is set to improve with the opening of two Pink Line electric train stations in May 2025, following IMPACT’s co-investment of 1.2 billion baht in the project.
In 2024, the complex welcomed nearly 10 million visitors and is expanding its international reach, particularly targeting Chinese and Indian markets.
Kanjanapas highlighted that the enhanced infrastructure and strategic initiatives at Muang Thong Thani are designed to attract foreign investment and position the complex as a comprehensive destination, drawing comparisons to integrated resort models in Singapore and Las Vegas.
This project forms part of a broader strategy to position Muang Thong Thani as a contender for the government’s proposed 100-billion-baht entertainment complex mega-project.
At a media roundtable, IMPACT CEO Paul Kanjanapas, who also manages the IMPACT Growth Real Estate Investment Trust, detailed plans to add 1,000 hotel rooms this year.
The expansion will include a five-star hotel with over 300 rooms and a four-star hotel with more than 600 rooms, with long-term targets to boost total room capacity to 2,000 by 2028, 3,000 by 2030, and 5,000 by 2035. Currently, IMPACT operates a four-star Novotel with 380 rooms and a three-star Ibis with 550 rooms, both of which have occupancy rates between 50 and 60 percent.
The expansion will be partially funded through the sale of these existing properties to the trust, with proceeds estimated between 2 and 2.5 billion baht.
Kanjanapas noted that limited hotel capacity had previously forced the company to decline major events, and the new development is expected to support a projected 25 percent revenue growth for the IMPACT Growth REIT in fiscal 2024, ending March 31, 2025. The IMPACT Arena has already experienced a 20 percent year-on-year growth, with bookings for 2024 surpassing pre-pandemic levels.
The Muang Thong Thani complex, spanning 4,700 rai, includes key venues such as the IMPACT Arena, Challenger, Forum, and Exhibition and Convention Centre.
In addition, transport connectivity is set to improve with the opening of two Pink Line electric train stations in May 2025, following IMPACT’s co-investment of 1.2 billion baht in the project.
In 2024, the complex welcomed nearly 10 million visitors and is expanding its international reach, particularly targeting Chinese and Indian markets.
Kanjanapas highlighted that the enhanced infrastructure and strategic initiatives at Muang Thong Thani are designed to attract foreign investment and position the complex as a comprehensive destination, drawing comparisons to integrated resort models in Singapore and Las Vegas.
