Real Estate
Accor to increase its presence and bring managed residences to Thailand
AccorHotels from France will continue to increase its presence in Thailand, and not just in Bangkok.
AccorHotels from France will continue to increase its presence in Thailand, and not just in Bangkok.
Local newspapers are reporting that the company will bring its mid-scale, lifestyle hotel brand, Mama Shelter, to the country. Accor is also looking for opportunities to manage luxury residential projects for Thai developers.
Patrick Basset, Chief Operating Officer for upper Southeast and Northeast Asia at Accor, reports that the trend of hotel-branded residences keeps expanding in Asia-Pacific and Thai real estate developers are now interested in taking advantage of this growing trend. No names were mentioned, but it is believed that some homebuilders want to have professional hotel chains managing their high-end residential projects.
One reason hotel-branded residences are popular is because they offer a mix of prestigious hospitality and urban real estate space that typical resonates with foreigners and locals alike. Hotel chains that have managed residences in Thailand include Sofitel So Residences, M Gallery by Sofitel, Pullman, Swissotel, Grand Mercure and Novotel.
More: Bangkok real estate: what you need to know about the market right now
Accor will likely put their first hotel-branded residence in Thailand somewhere in the Sukhumvit area. In addition to building in Bangkok, Chiang Mai, Hua Hin, Pattaya, Samui and Phuket could also house Accor branded residential projects in the future.
The hotel company is also planning to launch its mid-range hotel brand, Mama Shelter, in Bangkok during the next year or two. The unique brand has 677 hotel rooms in six cities including Paris, Los Angeles.
Lifestyle
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.
Property
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.
Property
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
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