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Thailand’s tropical paradise island Phuket continues to out-perform its Asian rivals in the intense competition for tourists who demand
luxury accommodation managed by some of the world’s most prominent hotel
organisations.
This in turn, has spurred substantial levels of investor interest in the destination’s every-growing property market and higher than ever
interest from international hotel management companies searching from new projects along the Andaman coastline.
Tourist arrivals in Phuket reached 4.7 million in 2006,
which in turn produced tourism-related spending of US$1.7 billion, up 87% from 2005,
according to research from the Kasikorn Bank’s Research Centre. This year Phuket is predicted to welcome 5.2 million tourists who will
spend US$2 billion during their time on the island.
These numbers are being driven by the emergence of low-cost carriers serving the island’s airport. Tiger Airways now flies three times
daily from Singapore, Jetstar Asia has started direct flights from Sydney and Dragonair recently resumed daily flights from Hong Kong.
Rights for direct flights from the Middle East are being finalised now with flights
expected to commence in the near future.
According
to Phuket-based C9 Hotelworks Managing Director, Mr Bill Barnett, the trend towards luxury accommodation developers
selecting an international hotel chain to manage the property – and ensuring rental returns for owners – has elevated Phuket’s investment
landscape to its strongest position in many years.
Mr Barnett is involved in many projects on the island including heading up project marketing at the Mövenpick Residence Karon Beach
Phuket.
He
said the Mövenpick Residence is a prime example of internationally managed projects driving demand, with other leading operators
such as the Shangri-La, Raffles, Jumeirah, Taj, Dusit, and Banyan Tree groups poised to launch similar projects while leveraging their
brand equity to inspire investor confidence.
“Phuket has recaptured its place as Asia’s premier resort location and is now headed towards becoming a world class destination
capturing an increasing international marketplace,” Mr Barnett said.
“Niche products such as the Moevenpick Residences are capturing a global phenomenon with international brands now aligning
themselves with mixed use developments and offering high yielding lifestyle investments.”
“Phuket’s property market is as robust as it has ever been with many major institutional investors entering the sector, and this, combined
with a boom in the Phuket travel market, points to internationally managed apartment ownership being a sound investment
choice” added Mr Barnett.
See
other recent news regarding:
Phuket,
Visitor
Arrivals
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