The Yamu, a luxury villa and hotel resort in Phuket, Thailand has secured financial backing from Singaporean investment group Hotel Properties Limited and the Thai KS Group in Thailand.
Luxury villa and hotel resort, The Yamu, has secured financial backing from Singaporean investment group Hotel Properties Limited (HPL) and from the Thai KS Group in Thailand.
The news comes after construction of the Yamu Hotel was stopped during the recent economic downturn.
The Yamu, located on the East Coast of Phuket, was designed by Philippe Starck and is currently owned by Campbell Kane.
Now that finances are in place, construction will restart with the Yamu Hotel scheduled to open in early 2012.
Listed on the Singapore Stock Exchange, HPL was founded by business tycoon Ong Beng Seng and owns forty hotels in fourteen countries, including the Singapore Four Seasons Hotel and the Hilton.
HPL also owns interests in Four Seasons Hotels in Bali and Maldives, the Bangkok Metropolitan and the Hard Rock Hotel in Pattaya.
Como Hotels and Resorts, a privately held subsidiary of HPL Group, will manage The Yamu once completed.
The company is owned by Ong Beng Seng’s wife, Christina Ong, and currently operates The Metropolitan and The Halkin Hotels in London, the Como Shambhala in Bali and the Uma Bali resorts in the Caribbean and Maldives.
Thai KS Group will also be investing in the project.
Owned by Eddie Kiasrithanakorn, Thai KS Group’s primary business is Honda motorcycle parts in Cambodia, Vietnam and Laos but the company has shifted its focus towards the hospitality industry within the last two years; taking ownership of Alila properties in Cha Am, Thailand, Luang Prabang in Loas and Hadahaa in the Maldives.