SET-listed property firm Grande Asset Hotels & Property Plc aims for growth in hotel revenue to 3 billion baht by the end of 2019.

Chief executive Vitavas Vibhagool said the company's main revenue this year will be from the hotel business at 3 billion baht, a rise from 1.7 billion in 2018 as the sector is improving.

"The opening of Iconsiam luxury mall on the other side of the Chao Phraya River drove hotel occupancy up to 80% at Royal Orchid Sheraton," he said.

The nationalities of major chunks of tourist arrivals included American, Chinese and Thai.

The company also plans on new income from opening its 273-room Hyatt Regency Sukhumvit on Sukhumvit Soi 13 near Nana Skytrain station.

Grande Asset plans to increase sales from food and beverage business with the launch of Spectrum Lounge & Bar, a new rooftop bar at the hotel, in March.

The company aims to have 1.5 billion baht in presales from the launch of a luxury condo, Hyde Heritage Thonglor, on Sukhumvit Soi 59 worth 6 billion baht.

In the first half this year, Grande Asset will have roadshows in Hong Kong, Singapore, Tokyo and Shanghai to introduce the project to potential buyers.

The project will be a joint venture with Japanese property firm Sumitomo Forestry, featuring 45 storeys and a total of 311 units priced from 10.9 million baht.

The Hyde Heritage Thonglor will be completed by 2020.