Movenpick Dive Deep Into Thailand Hotel Residences
According to the Bangkok Post Thai-listed group Nusasiri Plc has engaged Movenpick Hotel & Residences to manage three of their residential-led condominiums.
The three properties are located in Ekamai Bangkok, Khao Yai and Si Racha.
In the case of Si Racha the incoming condominium hotel supply looks to be a key competitor to the traditionally strong serviced apartment sector on the Eastern Seaboard.
Movenpick’s move into the mixed-use sector is clearly meant to stimulate growth and acknowledges the reality of the growing importance of hospitality generated rental returns for property buyers.
Nusasiri has a large condominium project in Layan Phuket under development, though no management has been announced.