BAAN Taling Ngam Resort and Spa in Koh Samui, Thailand will be closed for renovations from March 1 and reopen as a five-star InterContinental resort on October 1.

Resort sales and market director Tasa Soonthornsima told TTG Asia e-Daily that parent company Elite Villa would spend 800 million baht (US$26 million) on overhauling the 73-key property.

Elite Villa managing director Vikorn Srivikorn, also the owner of InterContinental Bangkok and Holiday Inn Bangkok, took over the resort from the defunct Lehman Brothers (Thailand) last May.

The 17-year-old resort used to run under the Mandarin Oriental and Le Meridien brands, and was previously a member of Small Luxury Hotels of the World.