Two Thai hotels for sale

BANGKOK 7 September 2017: JLL Hotels & Hospitality Group have been appointed the exclusive agent to sell two internationally branded hotels in Thailand’s top tourist destinations, Bangkok and Phuket.

The ‘for sale’ signs have been posted for the Four Points by Sheraton Bangkok Sukhumvit and Novotel Phuket Karon Beach Resort & Spa.

Managed by Marriott International, the 268-key Four Points by Sheraton Bangkok Sukhumvit sits on approximately 900 sq wah  (approx. 3,600 sqm) of land in a prime location on Bangkok’s main commercial, tourism and leisure precinct Sukhumvit and within a five-minute walk to three BTS skytrain and MRT underground stations.

Fully refurbished and opened in 2014, Novotel Phuket Karon Beach Resort & Spa is managed by AccorHotels. It is situated on almost 12 rai (approx. 18,610 sqm) of land within just a two-minute walk to the northern end of Karon Beach. The 224-key resort features three swimming pools, a water slide, extensive spa and a kids club for children of all ages.

JLL Hotels & Hospitality Group Asia international director of investment sales Mike Batchelor 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. All these have continued to attract investors to the country’s hotel market.

“However, these investors have faced the same challenge – a fight for investment grade assets, particularly in major cities such as Bangkok and Phuket.”

In 2016, Bangkok was recognized 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 CAGR (2011-2016) of 7.4% in visitor arrivals according to statistics compiled by JLL and 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.