Laguna Beach Resort Phuket sold to Singapore equity fund
The resort is currently jointly owned by Laguna Hotels & Resorts and RHI Group; both have agreed to sell their stakes in the luxury complex.
Located in LHR’s flagship Laguna Phuket complex in Thailand, Laguna Beach Resort is situated between a tropical lagoon and the Andaman Sea.
The family resort includes; Angsana Spa, meeting and conference rooms, a wedding chapel, tennis courts, a fitness centre and a water park.
The two hundred and fifty two room luxury beach resort, which opened in 1992, was the second hotel to be opened at Laguna Phuket. Since then, a further seven hotels and villa complexes have been built at Laguna Phuket.
LHR’s board of directors agreed to sell their sixty percent share in the resort for a reported 723,565,000 Baht (US$ 23.6 million). Completion of the deal is expected in May this year.
The sale of Laguna Beach Resort comes only six months after LHR sold anther of their hotels, the Dusit Thani Laguna, Phuket, to Dusit Thani PLC for a reported 2.62 billion Baht (US$ 85.5 million).
This latest transaction underlines LHR’s strategy of reducing its interests in Thailand to focus on new opportunities throughout Asia. These opportunities include the ambitious Laguna Hue Resort in Vietnam; a two hundred and eighty hectare beachfront site which will offer over two thousand rooms spread across seven internationally branded hotels and resorts.
''These recent developments all reflect our commitment to developing our business in Phuket [Thailand] and elsewhere in the [South East Asia] region, without compromising our renowned levels of customer service,'' commented Michael Ayling, managing director of Laguna Resorts & Hotels PLC.
The new owners, RECAP, are a privately owned Singapore equity fund headed by chairman Suchad Chiaranussati. RECAP already have a strong presence in the Thailand real estate market and purchased the Jungceylon shopping, retail and hotel complex in Patong, Phuket in 2006. They also own the luxury, four-tower Millennium Residence project in Bangkok and have investments in China, Japan, Korea, Singapore and Hong Kong.
Laguna Hotels and Resorts will continue to own and operate the Banyan Tree Phuket, Sheraton Grande Laguna, Phuket and the Laguna Holiday Club.
More on Phuket news... http://blog.phuketoceanvillas.com/laguna-beach-resort-phuket-sold-to-singapore-equity-fund/
Phuket Ocean Villas - http://www.phuketoceanvillas.com
Rebecca Smith is a real estate journalist with more than 15 years experience. She is currently the sales director for Phuket Ocean Villas (http://www.phuketoceanvillas.com) who specialise in luxury ocean view property in Phuket, Thailand.
For more Phuket news... http://blog.phuketoceanvillas.com
149/12 Srisoonthorn Road,
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Laguna Beach Resort Phuket sold to Singapore equity fund here
News-ID: 163936 • Views: 1668
More Releases from Phuket Ocean Villas Co. Ltd.
Thailand aims to double tourism by 2014
The Tourism Authority of Thailand (TAT) has unveiled ambitious plans to double tourist arrivals to the Kingdom over the next two years. Armed with a budget of 500 million baht (US$16.4 million) and a new campaign slogan, “The miracle years of amazing Thailand”, TAT will attempt to double arrivals to thirty million per year, whilst also increasing income from tourism to 2 trillion baht (US$65.5 billion) per annum. TAT has already earmarked
Phuket property: The Village, Coconut Island may face legal action
Phuket, Thailand: According to a report in the Phuket Gazette, Phuket property development The Village, Coconut Island could be facing legal action for infringing Thai environmental and licensing laws. A complaint filed by local residents at Phuket Provincial Hall last week stated that The Village was releasing untreated waste water into the sea. The matter was followed up personally by Phuket Vice Governor Somkiet Sangkhaosutthirak who visited the island last week with
Phuket Boat Lagoon crosses water to add moorings in Krabi, Thailand
Phuket, Thailand: As Phuket Boat Lagoon continues to be almost always full to capacity, its owners have been looking across the water to Krabi to increase the number of yacht berths that they can offer. And it seems that their plans are well advanced, as they have just announced that phase one of their Krabi Boat Lagoon is due to be completed in November this year. The new marina is located in
Thai massage hits new heights in Phuket - Bangkok to see climax
Phuket, Thailand: More than five hundred Thai massage therapists descended on Kata Beach in Phuket, Thailand today for an un-official attempt at setting a new world record for simultaneous massage. Although the official figure is yet to be confirmed, it is thought a total of five hundred and eighty four pairs took part. The current official Guinness World Record is two hundred and thirty two, set on 30TH March 2010,
More Releases for Laguna
Beach Hotels Market Size- Sunset Key Guest Cottages Florida, Montage Laguna Beac …
Global Beach Hotels Market Size, Status and Forecast 2022 provides Market information about Manufacturers, Countries, Type and Application.This Beach Hotels Industry report also states Company Profile, sales, Beach Hotels Market revenue and price, market share, market growth and gross margin by regions.The following summary will give an overview of the causes, processes, and possible effects of the market research proposal. Request for sample copy of report @ https://goo.gl/xzrDyH Top Manufacturers/Key Players:- Sunset
Fresh Coat of Laguna Niguel
Dana Point, CA – August 29, 2011 – Fresh Coat of Laguna Niguel today announced the launch of www.freshcoatlagunaniguel.com as an information portal for Laguna Niguel area home owners and businesses to find information about painting projects. With articles being added almost every day and an online monthly newsletter of painting tips, the website is anticipated to quickly become California’s primary resource for residential and commercial painting projects. Future plans
Witford Laguna and Blake House Team Up in an Alliance
Look Whos In Bed Together and Now Under One Roof. Witford and Blake House celebrate the new showroom with a champagne reception at Laguna Design Center 2011 Fall Market. LAGUNA NIGUEL, CA. August 2011 – WITFORD Laguna and Blake House are teamed in an alliance to better serve the southern California Design Community. The two showrooms will keep their individual identities but work closely together to better serve the designer
HOTEL LAGUNA MAKEOVER SHOWCASES PAGEANT BACKSTAGE MAGIC
Laguna Beach, California / July 17, 2011 - This year, friendship, community and local history are all playing parts in a major renovation for Hotel Laguna, one of Laguna Beach's best-known landmarks. It's the result of a collaboration between old friends inspired by a sense of history and tradition that harks back to the spirit of cooperation - neighbors helping neighbors - that was at the heart of life in
HOTEL LAGUNA, LAGUNA BEACH APPOINTS HEINZ U. HOFMANN CHIEF OPERATING OFFICER
HOTEL LAGUNA, LAGUNA BEACH APPOINTS HEINZ U. HOFMANN CHIEF OPERATING OFFICER Laguna Beach, California / July 18, 2011 – Andersen Hotels is pleased to announce the appointment of industry leader Heinz U. Hofmann as the Chief Operating Officer of Hotel Laguna. But, for those who know the close relationship between the Andersens and the Hofmanns, this is really more of a “home-coming”. Heinz says “The Hotel Laguna is close to
New ROCK’N FISH Launches in Laguna Beach
Restaurant will incorporate design elements from local artisans. (Laguna Beach, CA) - ROCK'N FISH, the South Bay's favorite seafood, steak and spirits institution today announced the opening of its newest location in Laguna Beach. Owners Michael Zislis and high school friend Jim Donegan shared a vision to bring their American Regional Cuisine to a restaurant overlooking the Pacific. Having an aspiration to open a restaurant in Laguna Beach near his home, Donegan