Thailand's leading real estate agent

Phuket Property Investment – Four Seasons Hotel

By on Apr 28, 2014 in Hotel-Tourism, Property News

Four Seasons HotelS AND RESORTS, a Canadian-based management operator of luxury hotels, is looking to penetrate the Phuket market to tap Thailand’s growing tourism industry better.

The company is looking for a location on the island and is in talks with a qualified investor. If the negotiations pan out, the new hotel is expected to open in three to five years, making it the company’s fifth hotel in Thailand.It currently operates in Bangkok, Koh Samui, Chiang Mai, and the Golden Triangle in Chiang Rai. Vincent Hoogewijs, Four Seasons’ regional vice president and general manager, acknowledged that hotel competition in Phuket was high, with a large number of international chains. But he believes there is more room for growth and is confident the Phuket property will be successful, thanks to Four Seasons’ internationally recognised luxury brand image. Four Seasons Hotel Bangkok is an example of the damage done by the political unrest, he said, adding that the property had its worst-ever occupancy rate of 15 per cent one day. In the first quarter, its rate dropped to 40 per cent from 80 per cent in same period last year. He said Four Seasons was attempting to lure guests back to Bangkok by offering incentives such as airport pick-ups and spa packages. It has no plans to offer room discounts because its rates in Bangkok are already lower than other cities such as Hong Kong and Singapore.

He said the hotel’s Asian clients outnumbered Westerners, with most coming from mainland China, Japan, Singapore and Hong Kong. The number of Asians staying at the hotel is rising because of the region’s growing economic prosperity and middle class.

For the full article, please click here.

No comment





 

emailSubscribe Via Email

Privacy guaranteed. We will not share your information.

Follow Me on Twitter

Follow Me on Facebook

Subscribe via RSS Feed

Copyright © 2020 CBRE (Thailand) Co., Ltd. All Rights Reserved.