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

How Urban Flight and Lifestyle Seekers Have Changed Phuket Real Estate

Category: Real estate, Posted:25 Sep 2022 | 10:44 am Urban flight and a continuous stream of incoming lifestyle residents to Phuket are dramatically shifting Southeast Asia’s leading resort real estate market landscape. The new island property mantra is dominated by surging demand for single-family homes and larger condominiums. Phuket has witnessed a sharp change from 2019 when over 9 million tourists sought a place […]
Read more

Destination Group Transacts Khao Lak Hotel

Category: Hotels, Posted:21 Sep 2022 | 16:21 pm The Destination Group has acquired a partially completed beachfront 400-key hotel in Khao Lak, Phang Nga. What was named the Mora Resort which is under construction will see Destination fully complete and brand the property. An opening in late 2023 is planned for the hotel which is located near the JW Marriott. Access to Khao […]
Read more

Soho House Bangkok Opening in December

Category: Hotels, Posted:21 Sep 2022 | 13:09 pm Uber global social brand Soho House will debut in Bangkok this December 2022. Located in the former Eugenia hotel in Sukhumvit Soi 31, the property has been reinvented. With three floors of facilities, food, beverage, and cultural events are also set to be showcased. Soho  House Bangkok membership is set at THB135,000 per year, with […]
SiaJai logo

Thailand's Leading Homecare Marketplace