TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

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

Thai Hotel Group Erawan Selling Two Koh Samui Hotels

Category: Hotels, Posted:31 Oct 2021 | 16:44 pm

According to a filing with the Stock Exchange of Thailand (SET), the Erawan Hotel Group has executed agreements for the disposal of two hotel assets in Koh Samui.

The properties are the Renaissance Koh Samui Resort and Spa and Ibis Samui Bophut Hotel.

Noted in the SET filing is that the proceeds will be used to reinvest into the budget hotel segment and focus on domestic customers.

Details of the pricing disclosed in the public filing are the Renaissance at THB531 million and an Ibis at THB394 million.

Completion of the deal is expected to closed by 30th December 2021.

Erawan has been publicly bullish about their Hop Inn brand which is expanding quickly both in Thailand and the Philippines.  They have voiced sentiment they expect the domestic market to outpace recovery versus the foreign sector and look to tap into a budget-oriented portfolio.

 

 

Other News

Read more

Direct Bali Phuket Flights Return in Phuket

Category: Hotels|Tourism, Posted:14 Jun 2024 | 08:15 am The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024. AirAsia Indonesia will be the carrier and flight frequency will be three times a week. Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise […]
Read more

Registration Open for Mind the Gap – Women & Diversity in Hospitality – A Learning Event

Category: Hotels|Tourism, Posted:13 Jun 2024 | 09:55 am Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket. Join us in this unique, candid, and insightful half-day session that takes a closer […]
Read more

Samui’s Booming Villa Rental Marketed Featured in New C9 Hotelworks Report

Category: Hotels|Real estate, Posted:11 Jun 2024 | 07:04 am Standalone villas shake up traditional hospitality supply as the market rises. Increasing demand for multi-bedroom accommodation growing, coupled with a preference for spacious and private villas according to new research from C9 Hotelworks in their new Samui Villa Rental Market Review. In recent years, private villas rented as vacation homes have emerged as a significant […]
SiaJai logo

Thailand's Leading Homecare Marketplace