Two Internationally Branded Hotels Offered For Sale
Two internationally branded hotels situated in two of the most popular beach locations in Thailand are for sale: the Courtyard by Marriott Hua Hin situated in the Gulf resort of Cha-am and the Courtyard by Marriott Phuket located at Patong Beach. This activity reaffirms Thailand’s position as a market leader in the tourism industry, within the Asian region. These transactions come in the wake of recent flooding activity, which despite the damage caused to infrastructure still manages to remain as an attractive tourism destination. The number of tourists in the first 11 months of 2011 totaled 17.1 million, which is a 21.2% increase compared to a similar period in the previous year. Even though the number of tourists from all regions in the world experienced double digit growth, the number of tourist from North-East Asia recorded the most growth, hitting 34.2% jump amounting to 4.3 million in total.
The Hard Rock Café and Shop and Courtyard by Marriott Phuket are both located at Patong, which is regarded as the number tourist destination in the West Coast of Phuket. One of the major factors that make this deal so lucrative to buyers is its prime location and its title as a freehold property. The terms of the sale are also very lucrative, without any restrictions on a long term hotel management contract, which gives potential buyers the flexibility of positioning the property to capture the growing tourism industry in Phuket. The hotel has 390 rooms, within close proximity to beach and with a breathtaking view of the area. The property had undergone extensive renovations in 2008. The Hard Rock Café and Shop is also up for grabs but this part of the property is operated under an agreement with Hard Rock Group.