|Photo by Freeimages.com/Jason Morrison|
GHM reports that it has obtained in its favor a ruling by the ICC International Court of Arbitration following arbitration proceedings over GHM’s management of The Chedi Chiang Mai.
On November 4, 2013, Pacific Hotel Chiang Mai Co. Ltd., the owners of The Chedi Chiang Mai, terminated GHM as manager and operator of The Chedi Chiang Mai in a move GHM said was wrongful and without reasonable notice. GHM then initiated arbitration proceedings against the owning company.
In the arbitral proceedings before the ICC International Court of Arbitration, GHM said that it had, in the course of managing The Chedi Chiang Mai from 2006 to 2013, more than adequately met and fulfilled the terms of its agreement with Pacific Hotel Chiang Mai Co. Ltd. In addition, GHM said it had won placement for the hotel on several awards lists, including the No. 1 spot on Asia’s Best Resort list by Condé Nast Traveler in its Readers’ Choice Awards for 2013.
GHM said "it was awarded substantial damages as the owning company’s allegations against GHM were without merit."