Manathai Phuket Edges Toward Sale
One of the island's newer boutique resorts the 52 key Manathai located in Surin Beach is up for sale and is close to short listing interested parties. The resort has been marketed by three international agencies targeting different sets of potential buyers; and has gathered broad interest.
While the owners have not disclosed a sales price it's believed by industry sources that the original asking price was THB 380 million; though some industry experts expect a lower trading amount due to the present economic climate. Given the trend in design hotels and prime proximity to Twin Palms, The Chedi and Amanpuri a deal here is hardly a fire sale and certainly supports there is a lack of distressed assets in the market.