Two high-end hotels, Four Points by Sheraton Bangkok Sukhumvit and Novotel Phuket Karon Beach Resort & Spa, are being offered for sale through an international tender process conducted by JLL’s Hotels & Hospitality Group.
The 268-key Four Points by Sheraton Bangkok Sukhumvit, managed by Marriott International, sits on about 900 square wah (approximately 3,600 sq metres) of land in a prime location in Sukhumvit Soi 15.
Novotel Phuket Karon Beach Resort & Spa is managed by AccorHotels and was fully refurbished and opened in 2014. It is situated on almost 12 rai (approximately 18,610 sq m) of land near the northern end of Karon Beach. The 224-key family-friendly resort features expansive facilities including three swimming pools, a water slide, extensive spa and kids club.
Mike Batchelor, international director of investment sales at JLL Hotels & Hospitality Group Asia, said Thailand’s tourism prospects continue to prosper given the country’s already well developed infrastructure, strategic location and reputation as one of the world’s most popular holiday destinations.
These factors continued to attract investors, but all faced the same challenge – a fight for investment grade assets, particularly in major cities such as Bangkok and Phuket.
“For this reason, we expect high interest from both regional and domestic investors attracted by a seldom-offered opportunity to acquire hospitality assets with strong in-place cashflow and the benefit of management under two of the world’s largest hotel management companies,” said Mr Batchelor.
In 2016, Bangkok was recognised as the world’s most visited city by MasterCard welcoming 20.8 million visitors. The city’s hotel market is poised to further benefit from its strategic location as a regional hub supported by ongoing airport expansions to accommodate 100 million passengers by 2022.
Servicing direct flights from over 70 cities in 21 countries, Phuket continues to be one of Thailand’s most favorite beach destinations evident from a number of world’s leading hotel brands. This is reflected in both hotels’ strong performances with occupancies consistently over 80%. The island continues to show strong growth with a five-year compound annual growth rate (2011-2016) of 7.4% in visitor arrivals according to statistics compiled by JLL.
The province's future growth is underpinned by significant infrastructure spending including the proposed light rail system and ongoing renovations of the domestic terminal of Phuket International Airport, the company annuncement said.
Novotel Phuket Karon Beach Resort & Spa positions itself as a family-friendly resort. (Supplied photo)