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Villa Owners Buy Out Karma Samui

Category: Hotels, Posted:06 Jun 2013 | 10:31 am

A consortium of existing villa owners have obtained the management rights of the Karma Samui which has been renamed Kanda Residences.
Included in the deal were a number of villas which were owned by a subsidiary of Karma Resorts.
Klaus Rauter's Mai-BS firm has been engaged as interim manager.
The case of owners in hospitality led residential project's actively taking a larger role in management is on the rise in resort market's in Asia.
One of the key disconnects between hotel management groups and property owners is that larger units – three, four and five bedroom villa's do not generate high occupancy given most demand is for smaller units, thus there is not an aligment of interests.
Going forward the best advice for developers is to create greater flexibility be it lock off units in condos and apartments or have the ability to in villas be able to design units which can be rented either seperately or as a larger single properties.

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