Castlewood Group Benefit from Phuket’s High Hotel Occupancies Which Are Attracting Investors

2011 has seen a healthy increase in hotel occupancy rates in Phuket attracting many hotel investors to invest in the resorts three to four star hotels, claiming these offer the healthiest income and biggest returns.

Singapore, Singapore, October 29, 2011 --( Hotel occupancy rates in Phuket are growing strong, according to Robert McIntosh, the Executive Director of CBRE Hotels. The average hotel occupancy in Phuket had increased from 82.3% to 82.9% in the first quarter of 2011. This strong performance in occupancy rates has attracted many hotel investors to Phuket. Hotel investments in Phuket are expected to rise in the second half of 2011.

Phuket is the most attractive of resorts in Thailand due to the hotel occupancy rates remaining high in comparison to the other Thai islands and resorts. Both buyer and seller of Phuket hotels are benefiting from the acquisition this year with three to four star hotels being the most popular as they generate the biggest returns with steady income.

2011 is the first year since 2007 that hotel investment has been big business in Thailand. Between 2008 and early 2010 investment was slow to non existent as lenders stopped issuing money due to the decline in hotel occupancies in almost all of Asia. They eventually froze hotel investment everywhere until the beginning of 2010 when the recovery started slowly in the first half of the year, only picking up slightly towards the latter half.

Castlewood Group, a Singapore based commercial real estate company saw a positive shift in the hotel investment market in early 2010 in Thailand. As a result they began proceedings to acquire land in a prime location in Phuket for their new luxury 8over8 hotel.

Thailand in general and particularly Phuket has always been a favorite among holiday makers, this is proven by the number of repeat visitors attracted to the good value, quality of service, wonderful beaches and beautiful scenery. Although Bangkok loses out to other capital cities such as Singapore and Hong Kong for arrivals, Thailand’s resort destinations outperform most others in Asia-Pacific and are continuing to grow.

“With increasing number of tourists visiting, Phuket remains highly attractive to hotel investors,” commented Chris Comer, CEO of Castlewood Group, a commercial real estate developer based in Singapore. “At Castlewood Group, we offer a simple and transparent hotel investment that starts from just $52,140 with a 5% guaranteed returns and up to 30% annual returns.”

The 8over8 luxury hotel, a project by Castlewood Group, will be situated in Phuket, near the beautiful Bang Tao Beach and Laguna Resort. The 8over8 luxury hotel, which consists of 151 luxury suites and 19 exclusive units for stakeholders, will be scheduled for completion by the first quarter of 2013.

Castlewood Group
Nicola Bird
+65 6303 0888