TWO SIX Senses Resorts and Spas-branded properties in Hua Hin and Phuket are among seven properties listed for sale, as Thailand is seeing a rebound in foreign investor confidence in the local hotel industry, according to Jones Lang LaSalle Hotels.
Besides the two upscale properties, the hotel investment services firm is also searching for buyers for the Swiss Park Hotel Bangkok, a 50-key boutique resort in Koh Samui, a 100-key serviced apartment in Bangkok, and two 49 per cent-stakes in Centara Karon Resort Phuket and Centara Kata Resort Phuket, respectively.
In the first half of 2011, Jones Lang LaSalle Hotels sealed deals for two properties – Laguna Beach Resort Phuket for 1.5 billion baht (US$49.9 million) in February, and Sofitel Silom Bangkok for two billion baht in March.
Mike Batchelor, managing director – investment sales of Jones Lang LaSalle Hotels, said he expected hotel transaction sales in Thailand for the year to exceed last year’s figures.
Batchelor said investor confidence in Thailand’s hotel sector started to return from last year, when the firm saw a total of 5.5 billion baht in transactions for Baan Taling Ngam Koh Samui, Mercure Koh Samui, Dusit Thani Laguna Phuket and the Yamu project in Phuket.
Last year’s transactions came on the back of nil activity in 2009 due to the global financial crisis, but the figure is still a far cry from the record year in 2006, when 15.9 billion baht in deals were secured.