Currently going through an expansion, this 70-room hotel will soon be 155 rooms with an additional 80 rooms already planned with foundations set making a total of 235 3-4 star 42 square meter rooms. This property is located about 400 meters in from Patong Beach, the prime beach in Phuket and is a total of 1.5 acres with the land valued at US$3.75 million. There is a huge pool and a big restaurant as well as retail space that produces US$120,000 a year in income. The current expansion will be finished in about two months (June 15) and the third phase of 80 rooms could be completed afterward. The hotel has been operating for three years already and has had an average occupancy rate of approximately 60% year round with an average room rate of US$45 per night. During this time, however, there was no swimming pool which kept the rates lower than average. A rate of US$65-75 is expected after the expansion. The asking price for this property is US$13 million.
Call Tom at 01-832-9921 (Ref: TH056/05).