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Thailand’s hotel investment exceeds THB10b ($324m) in the first half of 2017

Direct investment in Thailand’s hotel sector reached THB10.7 billion in the first half of 2017, according to JLL Hotels & Hospitality Group.

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Direct investment in Thailand’s hotel sector reached THB10.7 billion in the first half of 2017, according to JLL Hotels & Hospitality Group.

This figure is attributed to four major transactions, comprising five hotels in Bangkok and Pattaya.

“As a comparison, 2016’s full-year investment volume was only THB 9.6 billion,” says Mike Batchelor, Head of Investment Sales Asia, JLL Hotels and Hospitality Group.

“The robust investment activity recorded in the first half reflects investors’ continued appetite for hospitality assets in Thailand and confidence in the long-term outlook for the country’s tourism industry.”

“Buyers comprised of both domestic and regional investors, with the latest hotel acquisitions being made by Carlton Hotel Group and Hotel 81, both from Singapore. This reaffirms Thailand’s position as one of the region’s most attractive hotel investment destinations,” adds Mr. Batchelor.

In June, JLL facilitated Hotel 81’s acquisition of the Premier Inn portfolio, including two hotels in Bangkok and Pattaya.

With a collective key count of 388, the portfolio marks Hotel 81’s first venture into the Thai market. Hotel 81 has appointed Travelodge to manage both hotels on its behalf.

Chakkrit Paul Chakrabandhu Na Ayudhya, Senior Vice President, Investment Sales, JLL Hotels and Hospitality Group, comments:

“The portfolio was the first overseas transaction made by the buyer, Hotel 81, the largest owner of hotels in Singapore. The seller, Whitbread, is also the largest owner of hotels in the UK. We were able to facilitate cross-border transactions, resulting in the movement of capital between regions.”

In May, Carlton Hotel Group of Singapore acquired a hotel development project in Bangkok. Situated at the corner of Sukhumvit Road Soi 27, the property comprises 2 rai, 2 ngan and 34.3 square wah of freehold land and a partial 34-storey hotel development.

JLL Hotels and Hospitality Group represented the seller, Bangkok Management Company Limited, a subsidiary of Principal Capital Public Company Limited in this THB2.4 billion transaction. Planned for completion in 2019, the 342-key hotel is expected to carry the Carlton Hotel brand.

Karan Khanijou, Senior Vice President, Investment Sales, JLL Hotels and Hospitality Group, explains: “The acquisition by Singapore-based Carlton Hotel Group has been the largest hotel deal publicly announced in Thailand. Given that no hotels of a significant size have been traded on the main Sukhumvit Road, this deal has also set a new benchmark price.”

The other two hotels sold in the first half of 2017 include Bangkok Edition Boutique Hotel and Swissotel Nai Lert Park in Bangkok. While the acquisition of the latter was announced in 2016, the transaction was only completed this year.

JLL expects 2017’s full-year hotel investment volume in Thailand to reach over THB14 billion by the end of 2017.

Last year, more than 10 hotels and hospitality assets were sold in Bangkok and the major provincial destinations of Thailand with a combined value of THB 9.6 billion. Of these, five assets were sold by JLL Hotels and Hospitality in Bangkok, Phuket, Samui, Sri Racha and Chiang Rai.

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Tourism

Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021

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The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign visitors, including returning Thais and foreign residents, from the approved countries to enter the Kingdom by air with no quarantine requirements from 1 November, 2021.

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Tourism

Bangkok lifts more COVID-19 restrictions

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In response to the Royal Thai Government’s announcement to relax more COVID-19 controls in the dark-red zone provinces, which include the Thai capital, the Bangkok Communicable Disease Committee has also lifted restrictions effective from 16-31 October, 2021.

Restaurants and eateries, cinemas, theatres, shopping malls, sport stadiums, and public parks can now resume normal opening hours, but no later than 22.00 Hrs.

Convenience stores, fresh markets, and flea markets can open for all types of goods up until 22.00 Hrs. All 24-hour shops must close nightly from 22.00-03.00 Hrs.

Hotels, exhibition halls, convention halls, trade fair centres, or similar types of venues can open for meetings, seminars, or other types of events and ceremonies up until 22.00 Hrs., and under strict safety and health controls. Consumption of alcoholic beverages remain prohibited.

The same goes for shopping malls, shopping centres, community malls, or similar establishments, which can also open for meetings, seminars, or other types of events and ceremonies up until 22.00 Hrs., and under strict safety and health controls. Consumption of alcoholic beverages remain prohibited. Also, any sales promotional activities shall not be organised while the amusement parks, water parks, and gaming centres must remain closed.

Limits for participants in gatherings has been increased to 50, up from 25 in the previous announcement.

The night-time curfew in Bangkok has been reduced from 6 to 4 hours, or between 23.00-03.00 Hrs.

Travel between Bangkok provinces and other areas can resume normal operations but must apply social distancing measures.

All types of entertainment venues, including pubs, bars, and karaoke shops are to remain closed. However, the government mentioned that these businesses may undertake preparation to be ready for reopening.

Self-protective measures and distancing efforts

As usual, people nationwide are asked to continue abiding by the health and safety measures in place; such as, wearing a face mask at all times while outside of their residence, regularly washing hands with soap and water/cleaning alcohol, and avoiding unnecessary close contact with others.

TAT would like to remind all travellers to continue with D-M-H-T-T-A precautions to prevent the spread of COVID-19: D – Distancing, – Mask wearing, – Handwashing, T – Temperature check, T – Testing for COVID-19, and A – alert application.

The post Bangkok lifts more COVID-19 restrictions from 16 October 2021 appeared first on TAT Newsroom.

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