Erawan To Sell ibis Patong Hotel
According to securities firm Bualuang the publically traded Erawan Group plans to sell their ibis Patong and ibis Pattaya hotels to a new property fund in the second quarter of next year.
Meanwhile the hospitality group will expand their Holiday Inn Pattaya and Merure back of strong trading. Over the next month in Bangkok the opening of the twinned Mecure and ibis Siam at National Stadium is expected to debut.
While another Phuket asset the Naka Island Phuket(formerly the Six Senses) operated by Starwood's Luxury Collection is slowly gaining commercial momentum, thought it's not expected to operate in the black until 2014.