Billionaire Saudi Prince Selling Moevenpick Phuket Resort

Jones Lang LaSalle Hotels are brokering the sale of the 362 key Movenpick Resort and Spa Karon Beach, Phuket.
With a land area of 82,828 square meters the property includes 175 rooms, 163 suites plus villas and 24 oceanview apartments.
The resort is owned by Kingdom Hotel Investments who purchased it in 2006 from an entity under the private equity firm LaSalle Investment Management.
Kingdom which is controlled by billonaire Saudi Prince Prince Alwaleed Bin Talal has recently disposed of a number of hospitality assets including the Four Seasons Hotel Jakarta.
JLL Hotels who are exclusively handling the tender process have said they are receiving a high level of interest in the resort which is located on Asia's premier leisure destination.