US-based Hyatt Hotels Corp is committed to expanding its network across Southeast Asia, which it sees as a fast-growing market, and especially in Thailand, which currently offers the highest potential.

　　While the company declined to reveal the number of new properties it would manage regionally, Ratnesh Verma, senior vice president for real estate and development of Hyatt Hotels and Resorts, said it would keep looking for opportunities in every market, including Myanmar.

　　He said Thailand would continue to play a major role in the region, even though new rivals are emerging.

　　He cited the Kingdom"s uniqueness and strong fundamentals, thanks largely to its rich natural beauty, geographical location and vibrant business environment.

　　The group operates 15 hotels in the region: five in Indonesia, three each in Vietnam and Malaysia, two in Thailand, and one each in Singapore and the Philippines.

　　Five new hotels and resorts are under construction, three of them in Thailand, and one each in Cambodia and the Philippines.

　　In Southeast Asia, the group currently has three brands: Park Hyatt, Grand Hyatt and Hyatt Regency.

　　In 2017, it will introduce a new brand, Hyatt Place, in Thailand. This will be the brand"s first appearance in Southeast Asia, Verma said.

　　There are seven brands overall in the company"s portfolio, the others being Andaz, Hyatt and Hyatt House. In the future, the group will introduce all brands across the region via new openings.

　　Increasing its role in Southeast Asia is part of Hyatt"s Asia-Pacific expansion plan.

　　Globally, there are 175 new hotels and resorts in the pipeline, 50 per cent of them in the Asia-Pacific region, largely in China and India.

　　The company operates 500 hotels and resorts worldwide on six continents. Sixty-eight of the properties are in the Asia-Pacific region.

　　Yesterday, Hyatt signed a management agreement with Pioneer Property, a Bangkok-based real-estate firm, to operate the Hyatt Place hotel.

　　The 220-room hotel, which will be in the heart of the capital, is being built at a cost of Bt1.2 billion, excluding land. It is scheduled to open in 2017.