Direct investment in Thailand’s hotel sector reached THB10.7 billion in the first half of 2017, according to JLL Hotels & Hospitality Group.
This figure is attributed to four major transactions, comprising five hotels in Bangkok and Pattaya.
“As a comparison, 2016’s full-year investment volume was only THB 9.6 billion,” says Mike Batchelor, Head of Investment Sales Asia, JLL Hotels and Hospitality Group.
“The robust investment activity recorded in the first half reflects investors’ continued appetite for hospitality assets in Thailand and confidence in the long-term outlook for the country’s tourism industry.”
“Buyers comprised of both domestic and regional investors, with the latest hotel acquisitions being made by Carlton Hotel Group and Hotel 81, both from Singapore. This reaffirms Thailand’s position as one of the region’s most attractive hotel investment destinations,” adds Mr. Batchelor.
In June, JLL facilitated Hotel 81’s acquisition of the Premier Inn portfolio, including two hotels in Bangkok and Pattaya.
With a collective key count of 388, the portfolio marks Hotel 81’s first venture into the Thai market. Hotel 81 has appointed Travelodge to manage both hotels on its behalf.
Chakkrit Paul Chakrabandhu Na Ayudhya, Senior Vice President, Investment Sales, JLL Hotels and Hospitality Group, comments:
“The portfolio was the first overseas transaction made by the buyer, Hotel 81, the largest owner of hotels in Singapore. The seller, Whitbread, is also the largest owner of hotels in the UK. We were able to facilitate cross-border transactions, resulting in the movement of capital between regions.”
In May, Carlton Hotel Group of Singapore acquired a hotel development project in Bangkok. Situated at the corner of…