Surin Beach Boutique Resort Sold
The 55 room Manathai Resort in Surin Beach Phuket has transacted.
Surin remains one of the island's most desired locations for upscale tourism.
Jones Lang LaSalle Hotels acted as brokers for the deal.
This comes on the heels of the sale of the 133 room Buddy Oriental Samui Beach Resort in Koh Samui.
It's expected that 2014 will see transaction activity surge given the influx of new hotels into Thailand hotel market and existing property owners are faced with the choice to either reinvest in order to remain competitive or asset disposition.