The 17-storey property, one of three high-rise hotels in Phuket Town, was put on the market after the Thavornwongwong family handed it over to the bank in lieu of loan repayments.
It was bought by investment house ACAP Advisory Public Co, which put it up for auction several times before a buyer eventually emerged at the end of 2013.
That buyer was Phokeethra, a privately-held Thai company that already has the Sofitel Krabi Phokeethra Golf and Spa Resort in Thailand, and the Sofitel Ankor Phokeethra Golf and Spa Resort, Siem Reap and Sofitel Phnom Penh Phokeethra in Cambodia.
The managing director of Phokeethra is Supachai Verapuchong who is also Deputy Managing Director of Thai Nakorn Patana, manufacturers of the popular pharmaceutical products Sara, Tiffy, Benda 500, and Anthasil.
Mr Supachai also has a 50-50 partnership with Thai media company Kantana in Miga Media Co, which received a concession from the Cambodian Ministry of Defence in 1995 to broadcast VHF TV in that company.
Mr Supachai was not available for comment on the Phuket Town hotel but The Phuket News spoke with Accor’s South East Asia Public Relations representative, Vasu Thirasak.
He was unable to say a great deal but did affirm, “One thing that is clear is that he has definitely chosen Accor’s management team to run the hotel.”
Signs outside the site label the hotel as a Novotel – Accor’s four-star brand – but this is not a certainty, Mr Vasu said. “Until we know exactly what Phokeethra will end up being we cannot say what brand it will operate under. This is still in the negotiation process.
“Usually, if the owner of the hotel hires the management team of our brand, discussions will have to take place between the owner and AccorÌ•s branding team about the design and architectural details.”
He said he was not even sure yet how many rooms the refurbished hotel will have.
When asked about the adjoining Thavorn Massage property, which was also handed over to the bank four years ago in lieu of loan repayment, Mr Vasu said he has no details about that yet.
A Phokeethra representative said the company was not yet ready to give out any information about either property.
The reopening of the hotel will mark Accor's re-entry into Phuket Town. It was for some years manager of the Royal Phuket City Hotel, under its Novotel brand.
The company has a major presence in Phuket, with 10 hotels and resorts under management. These are the Pullman Arcadia at Naithon Beach, the Novotel Phuket Karon Beach, the Novotel Phuket Kamala Beach, the Ibis Phuket Kata, the All Seasons Naiharn, and five properties in Patong – the Novotel Phuket Vintage Park, the Ibis Phuket Patong, the B Lay Tong MGallery, the Grand Mercure and the Novotel Phuket Resort.