TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

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

Outrigger Chain to Manage Laguna Phuket Rental Properties

Category: Hotels, Posted:05 Jun 2009 | 14:37 pm

It's been announced today that Laguna Phuket and Hawaii's Outrigger group have entered into an agreement for the management of the resorts rental properties. Outrigger Laguna Resort and Villas will be a mix of residential villas, town homes and apartments which will be operated by the end of this year. A total of 309 units will eventually operate as resort rentals with half coming on line in 2009 and the remainder though 2011.
With a growing number of residential units coming on line there is a trend in using branded hotel operators to market these for holiday rentals and to compete with established hotel products. Additionally property investors caught in the market downturn have created pressure to view rental yields as a method in obtaining returns versus just relying on capital appreciation upon exiting their investments.
Laguna had previously managed some residential units through the Sheraton Grande Resort, though typically institutional hotels are not geared up to operate freestanding villas, condos and townhouses. At the same time there is reportedly a split between the Allamanda condo hotel which is three separately registered condominium juristic persons (CJP'S) and the fate of the consolidated hotel operation there looks to be very much in doubt.
It will be interesting as residential projects start to becoming increasingly competitive to hotels how hotel licensing, hotel taxation and municipal rental tax issues are addressed since this is considered a significant gray area in current legislation. Currently many villa operations are unable to obtain hotel licenses due to a lack of clarity in the Thai hotel act and the subsequent taxation that applies to hotels cannot be implemented.

Other News

Read more

C9 Hotelwork’s Releases Philippines Branded Residences Report

Category: Real estate, Posted:25 Feb 2024 | 19:51 pm The Philippines branded residences market is experiencing a significant maturation, impacted by urbanization and a post-pandemic shift in lifestyle changes. The market is poised for a high level of growth. C9 Hotelworks newly released Philippines Branded Residences Market Update shows a 105% increase in the pipeline, translating to an additional 5,599 units supplementing the current […]
Read more

Phuket’s Largest Highway Interchange Expected To Attract Largescale Development

Category: , Posted:10 Feb 2024 | 09:42 am The release of plans for a massive highway interchange in North Phuket is spurring development activity in the Mai Khao area. A Mueang Mai interchange on the road leading to Phuket International Airport on the island’s main North-South artery will also have a  direct connection to the East Coast spur highway 4027.  (CLICK to see […]
Read more

GOCO Hospitality Inks Deal With Singapore Temasek to Expanded Wellness Resorts in Thailand and Southeast Asia

Category: , Posted:07 Feb 2024 | 10:33 am Leading Bangkok-based wellness group GOCO has signed a deal with Singapore’s Temasek private equity group via The Fullerton Fund. The injection of funds into GOCO is reportedly ‘high eight figures’ and will fund expansion in Thailand and Southeast Asia into hospitality assets. Two acquisitions are expected to be announced in March by Founder and CEO […]
SiaJai logo

Thailand's Leading Homecare Marketplace