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News Release

Bangkok

Major hotel assets put up for sale in two of Thailand’s premier investment destinations

Four Points by Sheraton Bangkok Sukhumvit & Novotel Phuket Karon Beach Resort & Spa offered for sale through international tender process.


​​​​​​Bangkok 6 September 2017 – JLL Hotels & Hospitality Group have been appointed as the exclusive selling agent for the sale of a portfolio of two internationally branded hotels, Four Points by Sheraton Bangkok Sukhumvit and Novotel Phuket Karon Beach Resort & Spa, located in Thailand's top tourism destinations of Bangkok and Phuket respectively.

 

Managed by Marriott International, the 268-key Four Points by Sheraton Bangkok Sukhumvit sits on approximately 900 sq wah  (approx. 3,600 sqm) of land in a prime location on Bangkok's main commercial, tourism and leisure precinct Sukhumvit and within a five-minute walk to three BTS skytrain and MRT underground stations.

 

Fully refurbished and opened in 2014, Novotel Phuket Karon Beach Resort & Spa is managed by AccorHotels. It is situated on almost 12 rai (approx. 18,610 sqm) of land within just a 2minute walk to the northern end of Karon Beach. The 224-key family-friendly resort features expansive facilities including three swimming pools, water slide, extensive spa and kids club for children of all ages.

 

Mike Batchelor, International Director of Investment Sales, JLL Hotels & Hospitality Group Asia, says "Thailand's tourism prospects continue to prosper given the country's already well developed infrastructure, strategic location and reputation as one of the world's most popular holiday destinations. All these have continued to attract investors to the country's hotel market. However, these investors have faced the same challenge – a fight for investment grade assets, particularly in major cities such as Bangkok and Phuket."

 

"For this reason, we expect high interest from both regional and domestic investors attracted by a seldom-offered opportunity to acquire hospitality assets with strong in-place cashflow and the benefit of management under two of the world's largest hotel management companies, Marriott International and AccorHotels," says Mr. Batchelor.

 

In 2016, Bangkok was recognized as the world's most visited city by MasterCard welcoming 20.8 million visitors. The city's hotel market is poised to further benefit from its strategic location as a regional hub supported by ongoing airport expansions to accommodate 100 million passengers by 2022.

 

Servicing direct flights from over 70 cities in 21 countries, Phuket continues to be one of Thailand's most favorite beach destinations evident from a number of world's leading hotel brands. This is reflected in both hotels' strong performances with occupancies consistently over 80%. The island continues to show strong growth with a five-year CAGR (2011-2016) of 7.4% in visitor arrivals according to statistics compiled by JLL and future growth is underpinned by significant infrastructure spending including the proposed light rail system and ongoing renovations of the domestic terminal of Phuket International Airport.

 

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

 

JLL has over 50 years of experience in Asia Pacific, with 36,800 employees operating in 95 offices in 16 countries across the region. The firm won the 'World's Best' and 'Best in Asia Pacific' International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.  www.ap.jll.com.

 

For more information, please contact

 

Winai Jaiton

Marketing and Communications

T +66 2 624 6400

winai.jaiton@ap.jll.com