Thailand is home to thousands of hotels such as Bangkok premier lifestyle hotel and despite the number of existing hotels in the country, there are still many investors willing to fund the hospitality sector. In fact, for the first six months of this year, a total of 10.7 billion baht worth of investments was recorded. This amount is to be used in purchasing five hotels to be built in Pattaya and Bangkok. This was announced by the JLL Hotels & Hospitality Group.
According to the head of investment sales in Asia, Mike Batchelor, the figure is 11.45 per cent over the total investments that were made in the previous year which only amounted to 9.6 billion baht.
It is estimated by JLL that the entire investment for the year 2017 in Thailand will be more than 14 billion baht.
Mr. Batchelor revealed that the investors are coming from both the regional sector and the domestic sector. The most recent hotel acquisitions were accomplished by both Hotel 81 and Carlton Hotel Group – these are all from the country of Singapore.
In June of this year, Hotel 81 was able to acquire the portfolio of Premier Inn with the help of JLL. They were also able to acquire two hotels located in Pattaya and Bangkok. The overall key count is 388 and the portfolio acquired by Hotel 81 made it possible for them to enter the hospitality market in Thailand. Travelodge is the one assigned by Hotel 81 to manage all of the hotels they have acquired in the country.
According to the senior vice president of JLL, Chakkrit Paul Chakrabandhu Na Ayudhya, Hotel 81 is the top hotel owner in Singapore and their acquisitions in Thailand was their very first venture in a foreign country. Whitbread is the seller and is also known to be the top hotel owner in the United Kingdom.
Carlton Hotel Group acquired a hotel in Bangkok on May. The project was still under construction during the acquisition. With the number of investors in the country, they are expecting to have another Bangkok premier lifestyle hotel that will compete with the existing hotels in the future.