TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

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

Twinpalms Looking For Strategic Partners

Category: Hotels, Posted:14 Feb 2011 | 17:01 pm

This just in from the industry newline mergermarket "Twinpalms Phuket Resort, a privately-held Thai hotel operator, is studying to bring in strategic partners to support its expansion plans, according to owner Carl Langenskiold. He is the majority shareholder who owns 60% of the company, which was founded in 2002.
The company has hired advisory firm Dherakupt to review and optimize its structure and may need to appoint advisors when a deal materialises, Langenskiold said. It is using Limcharoen Hughes & Glanville for legal matters.
Twinpalms has been approached by a Thailand-headquartered property consulting firm, he said. However, Twinpalms has put the proposal on hold as it is studying the benefits from the tie up.
Potential partners could be real estate companies or funds which are interested in Twinpalms' properties and operations, Langenskiold said. Options include investing in the company, its properties or setting up a joint venture. The company has no preference at this stage, he said, adding it is expected to finalize the partnership plan by next year.
Twinpalms is looking to have a presence in Koh Samui in Thailand within two years and also studying the potential of other cities and countries such as China's Hainan, Indonesia's Bali, the Philippines, India and Vietnam, Langenskiold said.
To enter new markets, the hotel operator is not interested in acquisitions as buying an existing hotel would make it difficult for Twinpalms to build its own style, Langenskiold said. But the company would be interested in partnerships.
The company, which is in the five-star hotel market, is thinking about entering the four-star market for a second brand, he said. Twinpalms intends to retain its beach resort style and has no plans to develop business hotels.
Its resort, with 97 rooms in Surin Beach, is valued between THB 1.5bn and THB 2bn (USD 66.5m), according to Langenskiold."

Other News

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 […]
Read more

UWC Phuket Enters International School Property Market

Category: Real estate, Posted:20 Sep 2022 | 08:46 am One of Phuket’s leading international schools UWC has entered into a development deal for integrated living. The school has subdivided a portion of its land adjacent to the campus and will have properties built by a Phuket real estate group TYSSEN VIP Development. Branded as the Campus Villas, the 44-unit gated estate offers four types […]
SiaJai logo

Thailand's Leading Homecare Marketplace