TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Former Le Royal Meridien Yacht Club Goes Fractional

Category: Hotels, Posted:14 Jun 2009 | 14:03 pm

Given the current downward trading of hotel and property we are starting to see developers pursue alternative products in order to stimulate revenue. The Purnavarna Residences at Royal Phuket Yacht Club is a fractional offering is a 1/18th interest in a unit which offers a set amount of usage per year, though comes with ongoing maintenance and usage charges. The conversion of this program for a 5 star hotel that was previously the Le Royal Meriden Yacht Club is a significant economic indicator as to the challenges currently facing hotel operators.
I spoke to the development office today about the status of the other project which is the large multi million dollar villas, now called The Purnavarna Summer Palace which has been under development now for a number of years. Expect more information on the status once we speak to those in charge next week on the blog.
We can now see a good amount of alternative investment vehicles with lower pricing points to enter the market as seen with groups such as David Lloyd, Absolute, Laguna Holiday Club and Marriott Vacation Club. Another of the new management companies entering the island the LaTour Signature Group also have a vast amount of focus on this sector. It looks apparent that new ideas are going to be needed to push product in what's looking to be a challenging market.

Other News

Read more

Cambodia Business Briefing – What Comes Next?

Category: Hotels|Real estate|Tourism, Posted:19 Oct 2021 | 08:13 am Hotels, tourism, and real estate are featured in next week’s virtual event – Cambodia Business Briefing. Organized by C9 Hotelworks and Delivering Asia Communications, the session will be on Tuesday 26th October, 3:00 pm Phnom Penh/Bangkok Time | 4:00 pm Singapore/Hong Kong. Cambodia remains one of Asia’s top-up and coming marketplaces. Pre-pandemic, its pace of […]
Read more

PHIST 2021 – Sustainable Asia RE-defined Coming 28 October

Category: Hotels, Posted:11 Oct 2021 | 09:11 am The fourth annual Asian-based sustainability-focused learning event PHIST 2021 will take place in a dynamic virtual setting on 28th October. Organized in Phuket, Thailand with speakers from across the region. PHIST (Phuket Hotels for Islands Sustaining Tourism) has established itself as a leading forum in Asia for sustainable tourism, environmental education for hotels as well […]
Read more

Lonely Planet. Ultimate Vacation Homes. More Phuket Meds

Category: Tourism, Posted:07 Oct 2021 | 21:02 pm It’s Friday and we have a trio of video insights for you. Listen to an intriguing talk with Joe Cummings who is behind the first Lonely Planet Thailand guidebooks. Hear seven short real estate talks on the latest trends. And then, how is Thanyapura looking to expand their medical footprint across Phuket. Right here. Right […]