On behalf of Destination Resorts Co. Ltd. (the “PropCo”), CBRE and Finansa are pleased to present for your consideration, a unique opportunity to acquire a portfolio of eight hotel assets in leading resort markets across Thailand (the “Portfolio”) and the associated hotel operating and growth platform, Destination Hospitality Co. Ltd. (the “OpCo”).
The eight Portfolio freehold assets are internationally branded and located across Phuket, Koh Samui, Hua Hin, Pattaya and Khao Lak, and present a rare scale opportunity to acquire over 2,000 keys in one of the world’s leading tourism destinations.
In addition to the prime hotel assets, the incoming investor will also benefit from the unique OpCo, a fully-integrated operating and growth platform. The OpCo offers a highly capable team of professionals with a proven track record of delivering results across acquisitions, financing, development and project management, and hotel operations and asset management.
This is a unique opportunity for investors to gain immediate scale and exposure to key resort markets in Thailand, and acquire an operating platform enabling them to unlock significant market and asset upside, and drive future growth to create one of the largest and most profitable resort portfolios across Southeast Asia.
A unique investment opportunity to acquire a major hotel portfolio of eight freehold assets across top four resort destinations in Thailand. Totalling over 2,100 keys, this is one of the largest resort portfolios ever brought to market in Southeast Asia and is a rare opportunity to get immediate scale across leading leisure markets of Phuket, Koh Samui, Khao Lak, Pattaya and Hua Hin. With high barriers to entry, opportunities of this scale and size are difficult to come by.
Known for its stunning beaches, lush vegetation, rich culture and world class hospitality, Thailand is a long-standing resort destination leader with ever growing popularity. Voted third in the prestigious “Best Country in the World” award by the Readers of Condé Nast Traveler 2022, behind only the “heavyweights” Portugal (1) and Japan (2), Thailand continues to attract arrivals to its shores.
A highly resilient market, Thailand saw an impressive recovery since 2022 and is looking to reach 75% of 2019’s record 40 million international visitor arrivals in 2023, all without significant resurgence of arrivals from Mainland China, historically Thailand’s number one feeder market. Operationally, Thailand’s popular resort destinations have performed exceptionally well, with markets such as Phuket recording a 18% Revenue Per Available Room (RevPAR) growth in 2023 compared to 2019*.
*YTD April 2023 versus YTD April 2019 6
Providing top-tier market exposure, the Portfolio offers eight assets in prime, highly sought-after locations within each market, offering the incoming investor access to the best beaches in Phuket, Koh Samui and Khao Lak as well as being able to capitalise on the growing popularity of Hua Hin and Pattaya.
1 2 3 4
The opportunity offers immediate access to strong cash flow generating businesses as well as material operating and market upside. The unique mix of stable assets, recently opened or about to open assets, and development assets across leading resort markets is a key highlight of this investment offering.
Operating & Stable Assets with Further Upside (4 assets)
Holiday Inn Resort Phuket Karon Beach, Holiday Inn
Resort Phuket Surin Beach, Radisson Resort & Suites Phuket, Radisson Resort & Spa Hua Hin – well established resorts in strong markets, with further rate upside through future improvements.
Newly Renovated, Recently Opened / Opening Soon –Benefit from Strong Ramp Up (2 assets)
Radisson RED Phuket Patong Beach (due to open in late 2023) – upon completion of significant refurbishment, the incoming investor will benefit from owning the market leading “lifestyle” hotel in the heart of Patong.
SocialTel Koh Samui (recently opened) – brand new “lifestyle” product with potential to be sub-market leader upon stabilisation.
Development / Renovation Projects (2 assets)
Holiday Inn Resort Pattaya, Mora Resort Khao Lak –opportunity to acquire at this early stage of development and benefit from significant upside post opening.
Six of the resorts benefit from being branded under leading international hotel brands, namely IHG Hotels & Resorts (Holiday Inn) and Radisson Hotel Group (Radisson, Radisson RED), enabling the properties to benefit from global exposure and distribution power of the Radisson and IHG brands.
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The well-negotiated franchise agreements enable the assets to be managed by the internal operating platform, utilising synergies across the Portfolio and ultimately driving higher returns.
All Portfolio resorts are owner-operated by the vendor’s in-house platform, Destination Hospitality Co. Ltd. – a uniquely integrated hotel investment, development, asset management and operating platform. This unique and highly efficient operating structure allows the Portfolio to deliver market leading profitability driven by clustering of functions across resorts, and centralization of group services in Bangkok and other locations. Since inception, the OpCo has delivered eleven acquisitions, three exits and currently has four planned acquisitions in the pipeline. As part of this transaction, the incoming investor can acquire the OpCo.
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Hua Hin: 243 keys
Radisson Resort & Spa Hua Hin
243 keys
Holiday Inn Resort Pattaya
318 keys
1 4
Status: Operating 1
1
Pattaya: 318 keys
Koh Samui: 121 keys
Khao Lak: 424 keys
Phuket: 659 keys
390 keys
Status: Currently operating as Mountain Beach Hotel Pattaya. Planned refurbishment and rebranding as Holiday Inn Resort Pattaya, target opening 2025.
SocialTel Koh Samui1
121 keys
Status: Operating
Mora Resort Khao Lak
424 keys
Status: Under Construction
Branding
Destination Group1
Headquartered in Bangkok, Thailand, Destination Group is engaged in the ownership and operation of hotels and the operation of branded restaurants.
Destination Hospitality Co. Ltd. (OpCo) is a uniquely integrated hotel investment, development, asset management and operating platform.
1. Destination Group is not a legal entity and is used in this document to refer to illustrate businesses relevant to this proposed transaction.
2. SocialTel Koh Samui – Real estate to be sold to investor on a sale and leaseback basis. Ownership of all trademark and IP rights associated with the “SocialTel” brand will remain with an affiliate of PropCo.
Destination Resorts Co. Ltd.
Destination Hospitality Co. Ltd.
PropCo
Radisson RED Patong Beach
Radisson Resort & Suites Phuket
Holiday Inn Resort Phuket Karon Beach
Holiday Inn Resort Phuket Surin Beach
Radisson Resort & Spa Hua Hin
SocialTel Koh Samui2
Holiday Inn Resort Pattaya
Mora Resort Khao Lak
OpCo Acquisitions
Development & Project Management
Hotel Operations & Asset Management
Assets and business offered as part of the proposed transaction
Franchise Agreements
Destination Hospitality Co. Ltd. is an established hotel acquisitions, development and management platform with a proven track record in providing end-to-end services acquiring hotel assets and creating value through renovating, rebranding, and successful hotel management in partnership with global hotel brands (franchise agreements). The company has 6 operating assets in Thailand and 2 development / refurbishment projects.
27years Experience
6 Operating assets (incl. 1 under renovation)
52 Employees
6 Under development, refurbishment or ongoing acquisitions
Identify unique acquisition and value add opportunities to grow the hotel portfolio and drive returns
11 Hotels acquired
3 Hotels divested since 2001
Lead the construction and renovation process (planning, design, cost, timeline) delivering ontime, on-budget repositioning of hotel assets
Existing Brand Partners (Franchise)
Deliver exceptional guest experiences while driving market-leading top line and profitability through a lean and centralized support team, leveraging strong brand, distribution and loyalty in partnership with some of the world’s leading hotel franchisors.
3 main focus areas in Acquisitions, Development & Project Management and Hotel Operations & Asset Management with the goal of increasing scale efficiently while driving revenue and enhancing profits for the hotel assets under management.
Acquisitions
In-house acquisition team with a strong pipeline and deal flow across Asia. Experienced in feasibility and identification and execution of value creation opportunities to drive value and returns.
Growth
Identify unique/distressed assets and repositioning opportunities to grow the hotel portfolio and drive returns
11 Acquisitions since 2001
Partnerships
Identify appropriate brand partners to further drive revenue
8 Owned Assets in Current Portfolio
Scale & Operating Leverage
Increase scale and fees for opco, drive operating leverage
4 Pipeline Acquisitions (under discussion)
Experts in project development and renovations. Strong design experience and local knowledge to facilitate local approvals and coordination with external architects & designers. On-time, on-budget delivery.
Centralized and lean white-label management company, approved by some of the largest global hotel brands. Maximizing revenue and enhancing profits through synergistic interaction and implementation of best practices.
Construction & Project Management
In-house team focused on building, construction, project management incl. facilitating local approvals, coordination & design etc.
On-time, On-budget Project Delivery
Focus on quality standards while managing costs and timelines effectively
5 Major renovations completed
3 Construction & major renovation projects underway
Delivering an exceptional guest experience at the property level while maximizing revenues and profits for Owners
Creating well-rounded marketing strategies across various channels (digital, e-commerce, affiliate etc.) to a variety of stakeholders
Supporting hotels in recruitment and retention, training, benefits administration, and creating a positive work culture
Enhancing revenue through establishing solid sales channels and optimizing revenue management and distribution
Providing centralized and dedicated finance support in areas incl. accounting, cash management, reporting, FP&A etc.
Building strong technology infrastructure to allow for various efficiencies incl. cloud & remote services and business intelligence & analytics
Offering in-house project management design review, preventive maintenance, capital planning, FF&E procurement etc. for both existing and new projects
Acquired:
• Felix Hotel (rebranded as Novotel - Karon Phuket (2014); Holiday Inn Resort Phuket Karon Beach (2023))
• Independent hotel (rebranded as - Hyatt Regency Phuket Resort; sold 2010)
• Acquired Courtyard by Marriott Kamala Beach (rebranded as Swissotel Resort Phuket Kamala Beach (2008); rebranded as Radisson Resort & Suites Phuket (2022))
• Commenced operations of branded restaurants
• Opened Hard Rock Café, Phuket
• Acquired Four Points by Sheraton Bangkok (sold 2019)
• Opened its first Hooters restaurant in Phuket
• Sold Hilton Hua Hin
Acquired Melia Hotel Hua Hin (rebranded as Hilton Hua Hin; sold 2014)
Acquired:
• Tropicana Hotel Patong (rebranded as DusitD2 (2007); Swissotel Resort Phuket Patong Beach (2016); to be rebranded as Radisson RED Phuket Patong Beach (4Q23))
• Surin Beach Hotel (rebranded as Novotel Phuket Surin Beach Resort (2016); Holiday Inn Resort Phuket Surin Beach (2023))
• Independent Hotel (rebranded as Novotel Hua Hin (2007); Radisson Resort & Spa Hua Hin (2023))
Sold Hyatt Regency
Phuket Resort
Acquired Ibis Styles Samui (rebranded as SocialTel Koh Samui (2022))
11 Acquisitions since 2001
4 Pipeline Acquisitions (under discussion)
Sold Four Points by Sheraton Bangkok
Acquired Mountain Beach Hotel Pattaya (to be rebranded to Holiday Inn Resort Pattaya post major renovation (target 2025))
2019
2022 2023
Acquired Mora Resort Khao Lak (under construction)
3 Exits
~2.5x return on capital employed (based on 3 previous exits)
BRAND PARTNERS (PAST & PRESENT)
66m Thailand population as of 2022
3.6% GDP y-o-y Growth in 2023 (projected by World Bank)
2nd Largest economy in Southeast Asia
~20% Of Thailand GDP is contributed by Tourism
#1 Mastercard’s Global Destination Cities Index 2019 (Bangkok), with Phuket and Pattaya in #14 and #15
#1 Tourist destination in Southeast Asia in 2019 by visitor numbers (40 million international arrivals)
2nd Most-searched destination in APAC by Google Flights Jan-Mar 2023
3rd Best Country in the World by Readers of Condé Nast Traveler 2022, 1st in Southeast Asia
Russia
Phuket
Kazakhstan
Austria
Denmark
Finland
France
Germany
Netherlands
Bangkok
Norway
Sweden
Switzerland
UK
Ethiopia
Canada
Turkey
Pattaya Dubai
Qatar
Phuket
Oman
UAE
Israel
Bahrain
Thailand is one of the most wellconnected destinations globally, with direct international air connectivity not only from Bangkok, but also from Phuket, Koh Samui and Pattaya
Bangkok
Bangladesh
Bhutan
Jordan
Pakistan
Saudi Arabia
Kuwait
38 Airports, including 12 international and 26 domestic
Source: Thailand Board of Investment, Flightconnections, CBRE Research June 2023
Phuket
Thailand has traditionally been and continues to be attractive for both domestic and international capital, as well as institutional, strategic and HNW investors. Hotels
Source: RCA, CBRE Research.
Note: Transaction volume excludes transactions where price is not disclosed.
2008 - YTD MAY 2023 HOTEL INVESTMENT TRANSACTION VOLUME (# OF KEYS)
4 out of the 5 most active hotel investment markets in Thailand since 2008 are resort destinations, and this Portfolio offers assets in each of those 4 markets
7 hotels | 1,422 keys
46 hotels | 10,515 keys
9 hotels | 1,594 keys
18 hotels | 1,654 keys
#2
32 hotels | 5,970 keys
2008 – YTD MAY 2023 TRANSACTIONS (# OF KEYS)
For the past 15 – 20 years, international and institutional investors have participated in 40%+ of hotel transactions (# of keys).
SELECTED INTERNATIONAL & INSTITUTIONAL INVESTORS
40%+ of hotel transactions (# of keys) involved International / Institutional Investors
Over the past 15 years, transactions involving domestic buyers account for slightly more than half of total deal volume across ~50 different buyers.
SELECTED DOMESTIC INVESTORS
42% Domestic International Unclassified
55%
~50 Buyers
Source: RCA, CBRE Research.
Portfolio transactions feature attractively in Thailand hotel transactions with a strong focus in key resort locations
2008 – YTD MAY 2023
TRANSACTIONS (# OF KEYS)
40%+
of hotels sold were part of a portfolio
6 of 7 buyers were International Investors (institutional & strategic/corporate)
7 Portfolio Transactions
70%
of portfolio transactions included hotels in key resort locations (in part or full)
Purchased (through a JV*)
3 Hotels | 664 keys
Ibis Styles Krabi Ao Nang
Ibis Phuket Kata
Ibis Hua Hin
2023
*JV with Origin Property.
Purchased
4 Hotels | 787 keys
Avani Riverside Bangkok Hotel
Anantara Layan Phuket Resort
Anantara Riverside Bangkok
Four Seasons Resort Koh Samui
2021
Purchased
3 Hotels | 366 keys
Manathai Surin Phuket
Manathai Koh Samui Beach Resort
Manathai Khao Lak
2021
Facilities
4 F&B Outlets
390 keys
FREEHOLD
Room Size
32-87 sqm
Meeting space
2 Pools, Gym, Spa
Kids Club
Radio Station
Nearby Attractions
Patong Beach (0.2 km)
Bangla Road nightlife (1.1 km)
Jungceylon Shopping Center (1.4 km)
Wat Doi Thep Nimit
Monastery Temple (6.1 km)
Elephant Jungle Sanctuary (8.3 km)
Bang Wat Reservoir (10.9 km)
Tenancies
45 mins
To Phuket International Airport (by car)
Situated in one of the most popular areas on the picturesque west coast of Phuket island, Patong Beach is Phuket’s main tourist resort destination, known for its long stretch of pristine sand and a vibrant nightlife.
Occupying a substantial 7,552 sqm site, the hotel is ideally located on the doorstep of an unrivalled nightlife scene and a mere 200 metres from the beach.
Upon imminent completion of renovation works, the property will relaunch as Patong’s newest and most iconic upscale lifestyle hotel. Rebranding to the dynamic Radisson RED will provide opportunity to benefit from significant ramp up following the transformational capex programme, with a product that perfectly complements the vigour of Patong’s unrivalled nightlife scene, ultimately driving hotel profitability.
A truly unique property, this design-led hotel will offer contemporary and vibrant rooms and an art-inspired lobby with a red tuk-tuk and a popular radio station as its centrepiece.
Extensive entertainment facilities, including rooftop bar and beach club, and a secret speakeasy lounge, alongside two swimming pools, a ballroom and a kids club will set the hotel apart from its competitors and attract a diversified visitor profile.
Partnerships with top F&B operators further complement the hotel’s lifestyle offering, adding to the appeal of the hotel and creating valuable additional income streams.
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179 keys
FREEHOLD
Facilities
5 F&B Outlets
8 Meeting Rooms Pool, Gym, Spa Kids Club
Nearby Attractions
Café del Mar Phuket (0.3 km)
Phuket FantaSea Themepark (0.5 km)
Kamala Beach (0.6 km)
Surin Beach (1.8 km)
Patong Nightlife District (7.3 km)
Phi Phi Island (59.3 km)
43-95 sqm
Room Size Tenancies
30 mins
To Phuket International Airport (by car)
Set amongst a lush tropical garden, the hotel is just a stone’s throw away from the stunning protected bay of Kamala Beach, positioned on Phuket’s famous sunset coast. A distinguished beach in its own right, Kamala is home to an increasing number of high-end resorts, having witnessed exponential growth in popularity in recent years. The resort is perfectly positioned between the beaches of Surin and Patong, providing effortless access to tranquil, powder-soft sands and calm, shallow waters as well as Phuket’s most vibrant nightlife district.
A well-built, upscale all-suites product, the resort offers a variety of spacious suites, allowing for high yielding opportunities. Each suite comes with a separate bedroom, living room and private balcony with breath-taking views of the surrounding gardens and the Lagoon swimming pool.
Resort’s extensive facilities, from its swimming pool, 288 sqm of meeting room spaces, a spa and kids club, allow it to capture a diversified profile of guests.
Core location enables the resort to capitalise on diverse demand generators and a plethora of retail and F&B offerings, including the adjacent Café del Mar social club, popular with locals and tourists alike for its mellow Ibiza-style atmosphere and breath-taking sunsets.
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Facilities
224 keys
Nearby Attractions
5 F&B Outlets
3 Pools, Gym, Spa Kids Club
KOHO Surf School
Karon Beach (0.8 km)
Karon Night Market (0.6 km)
Patong Nightlife District (6.2 km)
Wat Chaithararam Temple (12.6 km)
Khlong Katha Reservoir (14.8 km)
Big Buddha and Wat Karon (15.9 km)
Room Size
FREEHOLD Tenancies
28-60 sqm
45 mins
To Phuket International Airport (by car)
Set in a premium location along Phuket’s sunset coast, the resort is just a stone’s throw away from the picturesque shores of Karon Beach, renowned for its crystal-clear waters, soft sandy beaches, and lush greenery, synonymous with the natural beauty of Phuket. Top-rated Patong, Freedom, Kata and Kata Noi beaches are all within easy reach, providing unparalleled access to the best of Phuket’s beaches.
Contemporary designed full-service resort, featuring a variety of spacious guestrooms and suites, including family rooms and units with private plunge pools, set alongside an array of exceptional amenities, allowing the resort to attract a diversified spectrum of guest demand.
Resort’s facilities are perfectly positioned to capture the family segment, providing some of the best resort facilities on Karon beach, from multiple pools, a kids club and Koho Surf, Phuket’s fully accredited surf school.
The incoming investor will benefit from the imminent rebranding of the resort to Holiday Inn Resort Phuket Karon Beach, capturing further operational upside.
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Facilities
4 F&B Outlets
256 keys
FREEHOLD
2 Pools, Gym, Spa
Siam Adventure Club Desk
Kids Club
Indoor movie theatre & video arcade
Nearby Attractions
Surin Beach (0.4 km)
Laem Singh Beach (1.1 km)
Bang Thao Night Market (3.5 km)
Phuket FantaSea (3.8 km)
Blue Tree Phuket Water Park (5.7 km)
Green Elephant Sanctuary Park (10.1 km)
Room Size Tenancies
32-88 sqm
25 mins
To Phuket International Airport (by car)
An award-winning family-focused resort, offering a variety of comfortable rooms and suites and extensive facilities, featuring a games arcade, cinema, and pools with water slides, ideal for capturing the family segment. Exclusive location, steps away from the secluded Surin Beach on the west coast of Phuket, known for its pristine white sands and turquoise waters.
A mere 15-minute walk away from the resort is Laem Singh Beach, one of the most scenic bays on Phuket island, offering a picture perfect postcard image of hidden tropical paradise, large rock boulders and lush greenery.
Ideally located, the resort is a 10 minutes’ drive from the luxurious Laguna Phuket residential enclave and its neighbouring Bang Tao area, known for its lively bars & restaurants, 18-hole golf course, and luxury lifestyle amenities. Easily accessible, just a 25 minutes’ drive from Phuket International Airport.
The incoming investor will benefit from the imminent rebrand of the resort to Holiday Inn Resort Phuket Surin Beach, capturing further operational upside.
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243 keys
FREEHOLD
Facilities
7 F&B Outlets
9 Meeting Rooms Pool, Gym, Spa Siam Adventure Club Desk
Kids Club
Indoor movie theatre, video arcade & KOHO Skate Park
Nearby Attractions
Mrigadayavan Palace (2.6 km)
FN Outlet Hua Hin (4.2 km)
Cha-Am Forest Park (7.3 km)
Cha Am Beach (9.4 km)
Swiss Sheep Farm (10.7 km)
Cicada Night Market (12.9 km)
Room Size Tenancies
34-197 sqm
3 hours
To Suvarnabhumi International Airport (by car)
15 mins
To Hua Hin Airport (by car)
An award-winning beachfront resort, situated in one Thailand’s top tourist destinations. Located within easy reach of Bangkok, the resort provides the perfect respite from the grind of city life.
Ideally located between Cha Am and Hua Hin, a major coastal tourism stretch with several branded hotels, the property enjoys direct access to a 70-metre wide secluded beach, with each room offering a private balcony and panoramic views of the ocean.
Situated in one of Thailand’s premier golfing destinations with as many as seven first-class golf courses nearby, and a major focus on leisure and family travel, the resort is able to capitalise on a diverse range of demand generators.
An institutional quality asset, the resort offers a variety of stylish rooms and suites, including family rooms with bunk beds, allowing for yield maximization. Recent renovations and rebranding to Radisson create potential to achieve higher ADR and drive further operational upside to an already well-performing asset.
Extensive facilities, including multiple F&B outlets, a beach club, 3,758 sqm of events space and state of the art kids club, featuring a movie theatre, games arcade and KOHO Skate Park. The resort attracts a diversified guest profile, catering to families, couples, groups (social and corporate) and golfers alike.
Continuous investment in infrastructure will further improve Hua Hin’s connectivity upon completion of the Intercity Motorway Project and the opening of new dual track train line, drastically reducing travel time to Bangkok.
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121 keys
FREEHOLD
Facilities
Nearby Attractions
4 F&B Outlets Pool, Gym Chaweng Beach (0.3km)
Chaweng Night Market (0.6 km)
Central Festival Samui (0.6 km)
Wat Sawang Arom Chaweng Temple (3.5 km)
Koh Samui Town Centre (6.5 km)
Big Buddha Temple Wat Phra Yai (7.4 km)
Tree Bridge Zipline (15.2 km)
Room Size Tenancies
16-25 sqm
15 mins
To Samui International Airport (by car)
Best Activity Hotel (Asia)
Best Lifestyle Hotel (Asia)
Best Urban Hotel (Asia)
Best Leisure Hotel (Thailand)
Situated on Thailand’s second largest island of Koh Samui, the hotel occupies a prime location, in the heart of the island’s most popular entertainment and nightlife resort town of Chaweng, a mere 200 metres from the majestic 5-km-long Chaweng Beach.
Newly built and opened in 2022, SocialTel features a variety of design-led modern rooms, from private rooms to 8-person dorms featuring private balconies overlooking the swimming pool.
Bridging the gap between a lifestyle boutique hotel and a social hostel, SocialTel provides specially curated F&B outlets, including a vibrant urban beach club and a speakeasy bar, appealing to a variety of travellers and setting itself apart from its competitors.
Strategically positioned in a high-footfall location, peppered with bars and adventure tours, enables the hotel to attract diversified revenue streams, capturing additional F&B and tours business, ultimately driving value.
As the asset begins to stabilise, significant asset management opportunities exist, from growing the group business to capitalising on synergies with the other SocialTel hostels currently in the pipeline across Thailand.
Pending refurbishment & rebranding to Holiday Inn by 2025
318 keys
FREEHOLD
30-90 sqm
Facilities
4 F&B Outlets
Meeting Rooms
Pool, Gym, Spa
Nearby Attractions
Kasetsin Beach (0.2 km)
Big Buddha Temple (1.4 km)
Pattaya Beach (2.7 km)
Pattaya Water Park (2.7 km)
Pattaya Night Bazaar (4.2 km)
Sanctuary of Truth Museum (9.3 km)
Dolphinarium Pattaya (11.4 km)
45 mins
To U-Tapao–Rayong–Pattaya
International Airport (by car)
90 mins
To Suvarnabhumi
International Airport (by car)
200m
To Kasetsin Beach
An operating asset set on a substantial freehold site, the hotel is equipped with tropical-themed rooms with beautiful ocean and mountain views and extensive facilities, offering unlimited potential to an incoming investor.
Situated in one of the most scenic settings of Phra Tamnak Hill, the hotel sits in a premium residential submarket of Pattaya, just a few minutes’ walk from one of the most beautiful beaches in the area and just over a kilometre away from Pattaya Walking Street and its infamous night scene. Easily accessible from Bangkok, Pattaya is a vibrant hub of events and activities, attracting both domestic and international travellers.
Opportunity to acquire the asset at this early stage of refurbishment, provides an incoming investor with the benefit of significant upside post refurbishment and reopening, just in time for full market recovery and complete rebound in international arrivals.
Upon completion of refurbishment works, the incoming buyer will be able to enter into an executed franchise agreement with IHG and rebrand the hotel to a Holiday Inn.
424 keys
Room Size
34-47 sqm
Facilities
5 F&B Outlets
Meeting Space
5 Pools, Gym, Wellness Centre
Kids Club Sport Centre
Surf Rider
Nearby Attractions
Similan Islands (16 km from Thap Lamu, main pier connecting Khao Lak to Similan Islands)
Khaolak Khaosok National Park (67 km)
Khlong Phanom National Park (83 km)
Phang Nga Bay (60 km)
James Bond Island (55 km)
Chong Far Waterfall in Lumru National Park (8.5 km)
Three 18-hole Golf Courses
(Aquella, Katathong and Tublamu – easily accessible within 20 minutes–one hour)
50 mins
To Phuket International Airport (by car)
Upscale to upper upscale international branding option is available
Upscale to upper upscale international branding option is available
The property offers an exceptional opportunity to develop and own a luxury beachfront resort, situated on Khao Lak’s most popular Bang Niang beach, known for its pristine white sandy beach and crystal clear waters.
Spanning across a sprawling 2.8-hectare site, the property is set to provide a 5-star full-service luxury resort, offering ultimate privacy and unparalleled direct views of the ocean. Strategically designed to provide 1,350 sqm of state-of-the-art event space, the resort is poised to capture the under-serviced meetings and weddings business and become the MICE leader in the Phang Nga province. Situated just north of Phuket island, Khao Lak is a premium resort destination, surrounded by iconic attractions, world-class dive sanctuaries and snorkelling spots, five spectacular primary forest national parks and three 18-hole golf courses, all easily accessible from the resort.
Located a 20 minutes’ drive from Thap Lamu, the main pier connecting Khao Lak to Similan Islands, famous for once in a lifetime wildlife experiences with turtles, manta rays and whale sharks.
The incoming buyer will have the flexibility of entering into a provisionally negotiated franchise agreement with a leading international hotel operator or choosing to brand and operate the resort under their chosen brand.
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Thailand’s Largest tropical island, providing access to countless worldrecognised beaches, sites of natural beauty, rich culture and heritage alongside a vibrant entertainment offering. One of Most Visited Resort destinations in Asia.
3rd Busiest Airport in Thailand, Phuket welcomed 9.1 million passenger arrivals in 2019, to record a five-year (2014-2019) CAGR of 9.8%.
Superior Connectivity, the airport benefits from direct flights to over 20 international and 7 domestic destinations.
Strong International Demand, with international arrivals accounting for 73.5% of total visitor arrivals.
Holiday Inn Resort Phuket Surin Beach
Radisson Resorts & Suites Phuket
Radisson RED Phuket Patong Beach
Holiday Inn Resort Phuket Karon Beach
Culinary excellence with 23 restaurants on the island featured in the Michelin Guide Restaurants 2023.
Selected to host the world-class Phuket EXPO 2028, generating significant demand to the island.
Source: Ministry of Tourism & Sports, STR, CBRE Research, June 2023
One of Asia’s most desirable resort destinations, popular with both domestic and international travellers, Koh Samui is home to a number of world-renowned luxury resorts. Enjoying a balanced mix of breath-taking beaches, picture perfect landscapes and a vibrant nightlife, Koh Samui welcomed a total of 5.9 million arrivals in 2019.
Offering a more tranquil alternative to Phuket, Koh Samui provides access to wellness, nature and golf and is considered a gateway to exploring the best diving reefs in the gulf of Thailand.
Four Seasons
Evolving as a destination, in recent years Koh Samui increased the number of lowcost carrier flights and ferry routes, with the aim of diversifying and growing its customer base.
Koh Samui continues to be one of Thailand’s strongest hotel markets, recording the highest ADR in the whole of Thailand.
Investment-grade assets are closely held and rarely available for sale.
Located within easy reach of Bangkok, Pattaya is a popular destination, attracting both international and domestic demand.
Easily accessible from Suvarnabhumi airport, benefitting from excellent road connectivity. Further upside from the imminent expansion of the U-Tapao–Rayong–Pattaya International Airport.
Significant growth potential with upcoming high-profile developments adding new lifestyle attractions and creating new shopping, recreational and entertainment amenities, subsequently raising Pattaya’s profile as a tourist destination.
Selected as one of Thailand’s key “MICE Cities” by the Thailand Convention and Exhibition Bureau (TCEB), Pattaya’s MICE sector continues to grow, generating more corporate and mice demand and attracting high-profile exhibitions and international festivals to the city.
Thailand’s Eastern Economy Corridor (EEC) projects are enhancing land, air and sea connectivity, subsequently increasing commercial activity in and around the city.
Well-balanced market, with limited seasonality, Pattaya is supported by an all year round events calendar, from festivals, concerts and sports events.
Located within easy reach of Bangkok, Hua Hin is one Thailand’s top tourist destinations, ideal for families, couples and groups.
Increasingly recognized as Thailand’s premier golfing destination with as many as six first-class golf courses within easy reach.
Medical tourism is another demand generator, with visitors seeking a relaxed beachfront getaway, offering top quality medical, dental, and spa services.
Resilient market, Hua Hin performed exceptionally well throughout the pandemic, attracting domestic travelers and offering a variety of leisure activities, from fresh seafood restaurants, night markets, shopping malls, golf courses and waterparks.
Improvements to infrastructure with the implementation of The Intercity Motorway Project: Bang Khun Thian Line - Pak Tho, a high priority intercity project. Together with the opening of the new dual track train line, Hua Hin’s connectivity will continue to improve, facilitating travel between Bangkok and the southern region of the country.
Commercialization of the Hua Hin Airport will make Hua Hin benefit from direct access to international destinations, thus attracting more foreign visitor arrivals.
11% of 2019 visitors were international
60%
CITY & NIGHTLIFE
Tripadvisor.com
VISITOR ARRIVALS (PHETCHABURI & PRACHUAP KHIRI KHAN)
Source: Ministry of Tourism & Sports, STR, CBRE Research, June 2023
HOTEL PERFORMANCE (CHA AM & HUA HIN)
Highly sought after growth market, Phang Nga continues to attract world-renowned luxury brands to its shores.
Phang Nga welcomed 4.9 million arrivals in 2019, of which over 71% were international.
Just 70 kilometres north of the worldrecognised international resort destination of Phuket, Khao Lak offer its visitors access to unspoilt beaches, truly turquoise waters and ultimate privacy.
Within easy reach of five stunning national parks and Similan Islands, famous for its untouched beaches and one of the world’s best diving sites.
Phang Nga, will be the beneficiary of Phuket’s proposed second airport (20 minutes closer to Khao Lak), which, coupled with the highway expansion, will significantly reduce travel times, improving Khao Lak’ accessibility.
71% of 2019 visitors were international
VISITOR
4.9M
13p.p below the same period 2019
HOTEL OCCUPANCY (PHANGNGA)
65% 2019 37% 2022
68% YTD April 2023 Occupancy Occupancy Occupancy
Source: Ministry of Tourism & Sports, CBRE Research, June 2023
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