Fully refurbished and opened in 2014, the Novotel Phuket Karon Beach Resort & Spa is managed by AccorHotels.
Situated on almost 12 rai of land within a two-minute walk of the northern end of Karon Beach, the 224-key family-oriented resort features expansive facilities including three swimming pools, water slide, extensive spa and kids club for children of all ages.
“Servicing direct flights from over 70 cities in 21 countries, Phuket continues to be one of Thailand’s most favourite 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%,” said a JLL release announcing the property for sale issued today (Sept 6).
“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.”
The268-key Four Points by Sheraton Bangkok Sukhumvit, managed by Marriott International, sits on approximately 900 square wah of land (about 3,600sqm) 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, the release noted.
“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,” the release added.
Mike Batchelor, International Director of Investment Sales, JLL Hotels & Hospitality Group Asia, pointed out, “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,” he said.
“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, Marriott International and AccorHotels,” Mr Batchelor added.