16 Nov Thailand: Hotel investment remains strong
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Thailand’s hotel success story is continuing. Earlier in the year JLL announced that the Kingdom was having a record breaking year thanks to an sharp increase in investment. Now the real estate firm can reveal that Thailand has the third highest level of activity within the region. This is behind Hong Kong and Japan.
According to figures hotel investment has reached USD 335 million for the country for the first three quarters of this year. Hong Kong has received USD 1.5 billion and Japan USD 1.2 billion. This is despite the Asia Pacific region as a whole experiencing a slight decline in investment.
Also read: Investment in property remains strong
The majority of Thailand’s investment has been injected into the capital. The highest since 2014. This coincides with news that the city is a top destination city according to Mastercard thanks to its impressive overnight visitor numbers.
JLL have been involved in several hotel deals. This includes the Premier Inn portfolio and Sukhumvit S27 which combined accrued USD 111.5 million. The real estate firm cite stable political conditions and the relatively affordable cost of hotels in Thailand if compared to the rest of the region.
Hong Kong diversifying assets
In Hong Kong the investment comes off the back of a strong commercial market. Meaning that hotels owners are considering altering their usage.
Source: Thailand Property