Phuket’s Panwa Hotel Market Heats Up
In the news today is Thai development group Veranda Resort PLC developing a reported THB1 billion oceanfront hotel branded residence project in Panwa Phuket.
Currently, the project is under EIA and planning process with construction expected to commence later in 2021. According to the Bangkok Post, the 20-rai project has 150 hotel keys operated by Veranda Resorts.
There will also be hotel residences in low-rise condo buildings and villas for sale.
Veranda’s footprint continues to grow with hotels in Bangkok, Chaing Mai, Pattaya, Hua Hin, and Koh Samui.
In the Panwa area in Ao Yon, the boutique V Villas Phuket MGallery by ACCOR will open next year with 25 pool villas and a wellness-focused offering.
Meanwhile, there is another ocean fronting site in Panwa currently under planning as part of an expected mixed-use offering by a well-known Phuket developer.
We expect to see an increasing number of hotel residences projects coming to market in 2021. In case you missed the C9 Hotelworks and Delivering Asia Communication virtual Masterclass on Branded Residences: view the session here.