Club Med inks B2.8bn partner deal to open new resort in Krabi
PHUKET: Thailand’s Apex Development PCL this week signed an agreement with Club Med to launch an all-inclusive resort in Krabi with an investment of US$90 million (B2.86 billion).
The resort, to be located on Haad Yao (“Long Beach”) some 30 kilometres south of Krabi International Airport, is scheduled to open in 2021.
The deal was announced at a signing ceremony hosted by Xavier Desaulles, Club Med CEO for East and South Asia Pacific (ESAP), at Club Med Tomamu Hokkaido in Japan on Thursday (Jan 18).
At the event, Apex Chairman Pongphan Sampawakoop announced the details of his latest development to assembled media, reports Wimintra Jangni of HotelIntel.co. (See story here)
The property will offer 300 rooms in a range of categories along with a further 50 suites for the Exclusive Collection.
“The resort will offer direct beachfront access to guests while providing the exciting variety of sporting activities which have proved so successful in upholding the Club Med concept down the years,” said the report.
Club Med Krabi will become the second Club Med in Thailand, following in the footsteps of the first, located on 39 rai at Kata Beach in Phuket.
While Krabi is anticipated to play an increasingly significant role in Thailand’s tourism sector in the coming years, it is also expected that the collaboration between Apex Development and Club Med will lead to a mutually rewarding partnership combining the reputation of Club Med as a global leader in all-inclusive resorts with the long experience of Apex in developing resorts and residences, reported HotelIntel.co
Since its founding in 1950, Club Med has maintained its impressive performance in international holiday market.
The resort giant is present in 30 countries has tallied some 1,245 million (and counting ) stays at its venues. In 2016 alone, the company garnered 40 million visits to its digital platforms and social networks, including 33 websites in 14 languages.
Club Med reported its business volume for the Winter 2017 season – from November 2016 to April 2017 – at €875 million (B34.05billion), up 6.5% year-on-year.
Thai property developer Apex Development, listed in the Stock Exchange of Thailand (SET) with a registered capital of B1.49bn, has also become a key player in the Thai commercial property development market, including playing key roles in the development of the Mövenpick Resort & Residences in Jomtien, Pattaya, and the Sheraton Phuket Grand Bay Resort and Grand Bay Residences at Ao Po, on Phuket’s east coast.
The Sheraton Grand Bay Resort and Grand Bay Residences project area is to encompass some 66 rai comprising the Sheraton Phuket Hotel of 183 keys with an estimated value at B2.19bn, and the Grand Bay Residences consisting of 80 Pool Villas totalling 150 units with an estimated value at B2bn.
“Construction and decoration schedule for the residences component to be completed and ownership transferred to recognized revenue in year 2019, and the Sheraton Phuket Hotel scheduled construction and decoration completion, and opening is in the middle of year 2020,” Apex notes on its website.