Latest Phuket Property News

19/01/2009 - Massive expansion in Phuket real estate market.

Almost five thousand new hotel rooms are expected to become available in Phuket over the next three years.

Thirty new hotels are at various stages of development with over 4,918 rooms due to hit the supply channels over the next three years, according to the market research of C9 Hotelworks, a hospitality consulting firm based in Phuket.

The consultancy states development of new Phuket hotel properties remains strong, despite ongoing political issues and the international financial downturn.

Phuket already has nearly 40,000 hotel rooms in registered tourism establishments, ranging from guest houses through to branded hotels.  Approximately 25% of these are international star rated.

C9 Hotelworks managing director, Bill Barnett, said: ''There is a significant increase in Thai investment entities developing new hotels at the back of both publicly listed firms and private individuals. Much of this can be attributed to the domestic liquidity and greater availability of debt. Branding of hotels is also on the rise with 27 of the 30 hotels operated by international, regional and domestic chains. Thailand based brands such as Anantara and Centara are growing at a rapid pace and regional chains such as Langham are now expanding into the country."

According to the research, development has shifted to the northern end of the island particularly Mai Khao area and even over the bridge into Phang Nga province. The east coast and Phang Nga Bay are the chosen locations for luxury properties including The Yamu, Jumeriah Private Island and Taj Exotica.

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