Originally Posted by
Revolution
According to the article below (published at the end of 2019), the hotel was never profitable for its shareholders and its owners are looking to terminate the contract with Península. Might explain the lack of investment.
https://thethaiger.com/hot-news/tour...-bangkok-hotel
In the end and to settle this dispute, HSH bought the 50% share of the owning entity from the Phataraprasit family and now owns 100% of the Pen BKK as owner-operator. Will be interesting to see if they decide to invest... with all the competition in Bangkok now and in the future, they might as well keep the status quo as I doubt a full renovation would deliver higher RevPAR or ADR. They would have to rebuild or strip down all rooms to compete with FS, Aman, MO, Waldorf.
But a soft renovation would be nice. Some new carpets, furnishings.