One of the Best Hotels in Bangkok is For Sale
Jones Lang LaSalle Hotels has recently put one of Asia’s newest premiere hotels, the Aloft Bangkok on Sukhumvit 11 up for sale through international tender.
The Aloft Bangkok opened last February. It was actually built for the purpose of selling once it has been completed – mainly to provide a turnkey package for potential hotel investors, as it allows them to forego the hassle of the typical planning and construction period, which usually lasts for three or more years. The Aloft Bangkok is a worldwwide-class hotel with as many as 297 premium rooms, including 7 suites. Under the management of Starwood Worldwide, Aloft Bangkok is the newest member of Starwood Worldwide’s portfolio. Aloft is also the sister brand of W Hotels, which is considered one of the top upscale hotels in the world. Aloft-Bangkok also holds the distinction of being the first Aloft-branded hotel in South East Asia.
Situated in Sukhumvit Soi 11, Aloft Bangkok is perfectly located in one of Bangkok’s main tourist hubs. Aloft is also within the vicinity of the internationally famous Bed Supper Club. One of the main selling points of Aloft Bangkok is that it successfully blends modern and innovative use of technology with an efficient and utilitarian design, providing the best experience for both guests and investors. Aloft also takes pride in their wide range of facilities, which includes 3 beverage and food outlets, a fully equipped fitness center, and a swimming pool for guests. The hotel is also in the process of building a nightclub at the sixth floor. According to Jones Lang LaSalle Hotels VP Karan Khanijou, it is very rare for large scale hotels to be sold in such a transparent manner, especially if the hotel is based in the lucrative Sukhumvit area of Bangkok. It is the reason why Aloft’s sale campaign has attracted a large amount of investor interest from within the country and outside as well.
The last large scale hotel to be bought in Bangkok was The Sofitel Silom, which was sold early 2011. The Sofitel Silom was also under Jones Lang LaSalle Hotels at that time. After the Silom, the investor interest in the Thai hotel marker has seen a massive surge within the span of a few months. Currently, there are a number of other sales that are already in the advanced stages or will be revealed in the coming weeks.
According to Thailand’s Office of Tourism Development, investor sentiment in the country has improved year on year since 2010, effectively mirroring the upsurge in visitor arrivals and hotel performance. The Thai Tourism Authority has also compiled statistics that corroborate the OTD’s statement, with the country seeing a record 19.1 million visitor arrivals in 2011 alone. The OTD has also predicted that 2012 visitor arrivals to Thailand will increase by 7.3% in 2012, with the number of Bangkok tourists growing by 5-8%. Jones Lang LaSalle considers it as proof that Thailand will continue to prove itself as one of Asia’s premiere investment destinations.