Savills Thailand establishes team specialising in hotel development
Real-estate services provider Savills Thailand has launched Savills Hotels, a specialised team that will assist Thai hotel and resort owners, developers and investors through all stages of the hotel development lifecycle.
The team, currently consisting of almost 30 hotel specialists across the Asia-Pacific region, has extensive hotel advisory and investment experience throughout the region, including several consultancy assignments in Thailand.
The Thai hospitality market has seen strong growth with no signs of slowing down. Over the past six years, international arrivals grew at a compounded annual growth rate of 12.7 per cent, doubling the 15.9 million in 2010 to 32.6 million last year. This figure is expected to exceed 40 million by 2020.
“This market presents exciting investment opportunities, with many of the established Thai developers on an acquisitive appetite seeking growth both within and outside of Thailand with clear mandates to grow their portfolio quickly,” said Raymond Clement, managing director of Savills Hotels Asia Pacific.
“Following the lead of global hotel M&A deals [mergers and acquisitions], we expect to see some exciting M&A activities [that] could be beyond traditional hotel assets.”