Monthly Archives: May 2009

Holiday Inn Express to launch in Bangkok

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Holiday Inn Express to launch in Bangkok

Holiday Inn Express to launch in Bangkok

Thailand identified as next growth market for the brand

IHG (InterContinental Hotels Group), one of the world’s largest hotel groups by number of rooms, last month announced the signing of its first Holiday Inn Express hotel in Thailand—the Holiday Inn Express Siam Bangkok.

This makes Thailand the first country in Southeast Asia and the first in Asia-Pacific outside Greater China and Japan to welcome the entry of the successful Holiday Inn Express brand.

Available in over 1,800 locations worldwide and with 730 hotels in the development pipeline, Holiday Inn Express is a smart, innovative and refreshing hotel choice for value-oriented business and leisure travelers.

The award-winning hotel brand is one of the fastest growing in the industry, opening an average of two hotels a week around the world. This latest development underscores IHG’s increasing presence and continued commitment to Thailand and represents a key milestone in the ongoing expansion of Holiday Inn Express in the Asia-Pacific region.

Scheduled to open in early 2011, the 300-room Holiday Inn Express Siam Bangkok will be developed by Amburaya Hotels & Resorts and managed by IHG. The hotel is designed by Bangkok-based architectural firm Architects 49, well known for designing the Thailand Cultural Centre and the Thai Red Cross Centre.

The hotel will be centrally located in Bangkok, just steps away from the National Stadium Skytrain station, MBK Center, Siam Paragon and Jim Thompson Thai House.

A key feature of the hotel will be a cleverly designed Great Room, an all-day social, connection, entertainment and relaxation hub with floor-to-ceiling views of the Bangkok skyline from the seventh floor.
“Holiday Inn Express will add an entirely new travel option to the Bangkok market. Many smart travelers to Thailand want a stylish hotel that offers exactly what they need and none of the expensive things they don’t. Holiday Inn Express offers style and quality levels much closer to full service than budget hotels,” said Peter Gowers, chief executive, IHG Asia-Pacific. “We are delighted to launch our first Holiday Inn Express hotel in Thailand and Bangkok in partnership with the highly respected Amburaya Hotels & Resorts.”
Gowers added that IHG has experienced significant interest in the Holiday Inn Express brand from developers in Thailand and have several new deals under discussion. “The brand’s innovative approach enables us to deliver what guests value most, maximize revenue and keep costs down. Practical design means optimal space utilization and lower development costs. Flexible and efficient staffing structure delivers lower operating costs. Focused amenities and services mean higher operating margins. It all adds up to superior performance and higher returns to the hotel owner.”

Sunny Bajaj, managing director of Amburaya Hotels & Resorts, said, “Our partnership with IHG represents a great opportunity to capitalize on increasing traveler demand for hotels that offer just the right blend of services and facilities without the fuss and extras they don’t need. The proven success formula of the Holiday Inn Express brand together with the support of IHG’s hospitality expertise made IHG the ideal partner for us. We are confident about the future success of Holiday Inn Express in Thailand.”

Holiday Inn Express has expanded rapidly across the globe. In Greater China, there are currently 11 hotels open and 23 new hotels in the pipeline. The brand is now available in major cities such as Beijing, Shanghai, Tianjin, Shenzhen and Dalian, as well as Hong Kong.

IHG currently operates seven hotels in Thailand under the InterContinental and Holiday Inn brands and has another four hotels under development.

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Thailand proves to be a strong property market, experts say

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Thailand proves to be a strong property market, experts say

The Thailand property market is still making good returns for investors despite worries about inflation, according to experts.

Prices have been rising consistently and property investors who bought in Bangkok, Phuket and Koh Samui a few years ago have seen the values of their property quadruple in some cases, according to Gregory Smyth, an independent property consultant.

Although some are predicting that Thailand may be reaching the top end of the market he believes that is not in sight yet, with tax breaks from the government making investment in Thailand even more attractive

“However, the fame of property markets in Thailand has grown to a point that investors need to act soon or risk missing out altogether, as the number of opportunities dwindles,” he predicted.

And it is not just individuals. Opportunities for large companies are proving popular. “Global financial institutions, banks and insurance companies are happy to invest in Thailand,” said Daniel Ross, vice president for business development at Pacific Star.

“Investing in Thai properties could bring an internal rate of return of 15 percent,” he added.

One of the other positive factors in the growth of the property market in Thailand is the tax breaks offered by the government.

Transfer fees have been reduced from 2% to 0.01 percent, and the specific business tax has been reduced from 3 percent to 0.01percent until the end of March 2009 – effectively they have been reduced to nil to cushion the blow of high construction costs in the region.

Concerns over the high rate of inflation have been dismissed by the Institute of International Finance. It expects the problem to subside in the near future and says that worry over the situation has been exaggerated.

Tourism also adds to the attraction. ‘Tourism to Thailand is increasing by 20 percent per year, and Thailand’s islands like Koh Samui are attracting the largest proportion of the visitors,’ said Liam Bailey of David Stanley Redfern.

He advises investing in high-end resort property on popular islands. ‘Most of the tourism is regional on the back of dirt cheap inter-connecting flights.
This means that even if global markets continue to slow, and people stop going abroad, the money-making potential of Thailand properties will not be diminished,’ he added.

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Expansion of airport bonus for Thai island property

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Expansion of airport bonus for Thai island property

The Kra Isthmus – the thin stretch of Thailand that widens into the Malay Peninsula – has an extensive coastline and dotted along both sides are tropical islands complete with paradise beaches.

You will find many people who will advise buying property in the islands of the Gulf of Thailand, including Samui, Koh Phangan, Pattaya and other lesser known but up-and-coming islands such as Koh Chang and Koh Tao.

However, the well-known island of Phuket, on the west coast of the Kra Isthmus in the Andaman Sea, takes some beating.

This Thai island is already one of the most visited spots in Southeast Asia, but its tourist trade is likely to grow even further in the future, which should delight property owners on the island. Jay Walker, marketing director of The Village Coconut Island development, also picks Phuket as his top Thai property spot.

“Phuket is the most popular holiday destination which also means that it is the most popular for people looking to buy property,” he says.“Although there are other up-and-coming areas, at present time Phuket is still the strongest due to its infrastructure and popularity with tourists.”

Attracting over five million visitors in 2007 – with passenger traffic through its international airport rising by 22.6 per cent from 2006 – it is little wonder that Phuket is tipped as a top island property market in which to invest. The strong tourism trade has supported Phuket’s property market. The island was the most active Thai property market in the fourth quarter of 2007, with transaction numbers up 32 per cent on the same period the previous year, while the value of property transactions went up 59 per cent in the same timeframe.

However it is a recent announcement that really makes property on this Thai island enough to make shrewd investors take notice. In May this year operator Airports of Thailand (AOT) announced a Bt5 billion expansion of Phuket International Airport to bring its capacity up to 11.5 million passengers annually by 2016 – an increase of 77 per cent over current capacity.So, what will this mean to island property prices in the short-term?

“Potential rental yields on the island range from 6 to 8 per cent annually, with the capital appreciation per year at around 10 to 15 per cent,” Chris Ball, sales manager of Phuket Plus, comments.Walker is even more optimistic about the investment outlook in Phuket, saying: “We feel that 12 to 15 per cent rental yields, and 15 to 20 per cent appreciation, is not unrealistic.”  The millions of extra visitors who will fly to Phuket by 2016 should make investing in property on this Thai island a very tasty opportunity for investors indeed.

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