Thailand's Biggest Property Deal

The Hyatt Regency Sukhumvit Hotel has been sold for a staggering 5.055 billion baht, marking the largest property deal in Thailand's history, according to global real estate services company JLL.

JLL represented the hotel owner, Grand Asset Hotels & Property Plc, in this historic transaction. This sale is part of the company's strategic plan to bolster its financial standing and reduce debt.

Investment in Thailand's Hotel Sector

Nihat Ercan, JLL's chief executive of hotels & hospitality, Asia Pacific, highlighted that Thailand's hotel business continues to attract significant investment, both domestically and internationally. The sale of the Hyatt Regency Sukhumvit Hotel underscores a trend of increasing investment in Thailand's hotel sector over recent years.

Ercan noted that the sale of five-star hotels in prime locations like Bangkok is uncommon, often commanding high prices due to their suitability for long-term or strategic investment.

JLL's Role in Thailand's Hotel Market

Chakkrit Chakrabandhu Na Ayudhya, JLL's head of hotels investment sales in Thailand, emphasized the firm's leading role in representing major hotels in the country. This year, JLL has facilitated several significant sales, including The Lamai Samui Resort and Spa and Hilton Garden Inn Phuket Bang Tao.

JLL estimates that the value of hotel sales and investments in Thailand this year will exceed 20 billion baht, tripling the amount recorded in 2023.