Event Highlights
On 4 September 2025, SethiG, in partnership with The Access Group and Sleepwell Group, welcomed 70 hospitality leaders to the Marriott Sukhumvit Hotel, Bangkok, for the second edition of our flagship series, A Closer Look. Under the banner “Evolving Operating Models in Hospitality”, the evening explored one of the industry’s most consequential questions: how owners should choose and structure their operating models in a fast-changing market.
Opening Remarks
The evening opened with remarks from Tharin Sethi, Managing Director of SethiG, who reflected on growing up in a family-run hotel and why this year’s discussion was chosen. Tharin explained that, at SethiG, supporting the broader hospitality industry is both a professional and personal mission: by sharing insights, fostering dialogue, and facilitating knowledge exchange, the company aims to help owners make informed decisions that strengthen their operations and elevate industry standards.
“Owners today have more options than ever , HMAs, franchises, third-party operators, or going fully independent. We hope everyone walks away tonight with insights on how to pick and manage operators in ways that best fit their vision and asset strategy,” he said.
Matthew Emptage, Regional Director of Guestline, followed with a welcome that positioned technology and partnership as critical enablers for hotel owners, regardless of the operating model.
Panelist Spotlight
The panel brought together four leading voices in Thailand’s hospitality industry, each offering a distinct perspective.
Prab Thakral, CEO, Boutique Corporation – Owner-operator perspective, with experience building his own brands and negotiating franchise and management agreements.
Marisa Sukosol Nunbhakdi, VP, Siam Hotels & Resorts – Family-owned hotel perspective, emphasizing passion, legacy, and long-term investment.
Marcus Hanna, COO, La Vie Hotels & Resorts – Operational perspective, overseeing white-label and franchise hotels with deep global experience.
Jens O. Reichert, VP Development, Accor Mainland SEA – Global chain perspective, focusing on franchise agreements, brand standards, and support for owners.
Together, they offered a 360-degree view of hotel ownership and operations, bridging independent ownership, franchise strategy, white-label operations, and multinational brand management.
Select Insights
Marcus Hanna highlighted how an owner’s level of involvement often dictates the right model. “If you want flexibility and involvement, independent or franchise models may suit you. But in other destinations, the distribution power of a global brand can still be decisive,” he explained. He pointed to the Maldives as an example where the destination itself acts as the brand, in such cases, the strength of the location can outweigh the need for a global flag.
Looking further ahead, Tharin asked the panel: “Looking ahead 10 years, where do you see the hospitality scene in Thailand moving towards? More HMAs? More franchises? What brands will emerge, and what brands will die out?”
Hanna predicted Thailand will move closer to the U.S. model, where more than 80% of hotels are branded under franchises. “Thailand and Asia-Pacific are 20–30 years behind the United States. Expect to see more franchise agreements here, alongside the rise of third-party operators,” he observed.
Jens Reichert agreed and noted: “Operating a hotel is constant, hard work. You need resources, passion, and experienced partners.” He also addressed the rise of lifestyle hotels , a high-revenue but high-cost trend with slim margins and fast-changing consumer tastes in Bangkok. Looking ahead, he emphasized that technology and distribution improvements are inevitable, but “skilled staff are becoming rarer and more expensive, and automation cannot replace the human dimension of service.”
Turning to legacy and brand creation, Tharin asked Marisa Sukosol: “Your family built some of the most iconic hotels, with The Siam receiving multiple accolades as recently as last year. How did you and your family create those brands out of thin air? What were the driving forces behind it?”
Marisa attributed their success to reinvestment, trusted teams, and strong financing relationships. “We invest again and again and again into our hotels,” she said. “The importance of having a trusted team behind you cannot be overstated.”
Addressing contract negotiations, Tharin posed a pointed commercial question to Prab Thakral: “You’ve negotiated three franchise agreements and one HMA in recent months. As an owner, what is the one commercial term I should fight hardest for to protect my profitability and long-term asset value?”
Prab framed management agreements as instruments of asset management. “Clauses in a management agreement are like levers , levers that push your operators to perform. Depending on your strategy, you negotiate each clause to be a lever you can pull in a given circumstance. For example, if you want to motivate an operator to perform effectively, you may drive them to be more incentive-driven. See a management agreement as an owner’s set of levers that can be used to asset manage, that’s how I see it. Different levers for different properties.”
He also stressed the importance of strategic alignment through asset-level analysis: “I would encourage highest best use analysis on all hotel developments, which usually leads to the right outcome. Highest best use is the best tool you can use for a hotel. Recognize that the hotel space is highly competitive. Understand positioning, location, and what product you are going to deliver.”
Jens responded with a breakdown of how fees and obligations are generally structured : “Franchise fees and marketing fees are calculated off room revenue. Under a management agreement, the base fee is calculated off total revenue with an incentive fee based on GOP. In Thailand we have strict franchise regulation. Regarding IT: an IT stack is not required under a franchise agreement, however you need to plug into our distribution. We support the hotel owner in securing the necessary licences to facilitate distribution while Revenue management is optional and PMS is mandatory.
The evening concluded with a roll-pack mattress demonstration by Sleepwell Group’s Dream Master, showcasing motion-isolation performance, a light, memorable finish to a substantive discussion on asset-level decisions.
Closing Remarks
In closing, Suppharaj Chokwongananun, Managing Director of Sleepwell Group, reflected in his closing remarks: “Together with Thailand’s most distinguished hoteliers, we will continue to bring comfort, innovation, and quality to your guests in Thailand and beyond.”
We extend our thanks to the panelists, partners, and attendees who brought energy and insight to the session. A selection of event highlights and photographs is available on our dedicated event page. We look forward to continuing the conversation at A Closer Look 2026.