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Investors see opportunity in Pattaya hotel market

Caitlin Ashworth

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Although travel restrictions are still tight, investors see potential opportunities in Pattaya’s hotel market. Many are reimagining the 2021 market by focusing on domestic demand.

Property consultancy JLL says the ongoing Eastern Economic Corridor development comes into play. U-Tapao International Airport in Rayong expanding to increase capacity by 5 million passengers and a high speed rail is in the works to connect U-Tapao and the Bangkok airports Suvarnabhumi and Don Mueang.

The amount of investors interested in Pattaya hotels is at an “unprecedented” level, according to JLL’s Asia Hotels and Hospitality Group executive vice president of Investment sales, Chakkrit Chakrabandhu Na Ayudhya.

“In recent months, we have been getting an unprecedented level of enquiries from investors who are looking for opportunities to acquire investment-grade hotels in Pattaya. We have yet to see a wide trend of deeply discounted hotels in the market, particularly institutional-grade assets. However, the situation is delicate, and the landscape could potentially shift swiftly.”

Pattaya’s hotel inventory is ranked second in Thailand, following Bangkok. The city is slightly ahead of Phuket. Phuket has been in what many have deemed a “crisis” from the lack of international tourists over the past 7 months. Pattaya has been also been hit by the lockdown and travel restrictions., but due to the Pattaya’s proximity to Bangkok, the city has been able to attract domestic tourists during weekends and holidays. More domestic investors are also interested in Pattaya hotels.

“Due to border restrictions, we are naturally seeing more engagement from domestic investors compared to what we saw in almost 40 hospitality deals (over 40 billion baht in volume) that we brokered in Thailand since 2010. We also see more enquiries from corporates with diverse income streams and private equity funds since the pandemic started.”

SOURCE: TTR Weekly

 

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14 Comments

14 Comments

  1. Avatar

    Toby Andrews

    Monday, November 9, 2020 at 11:15 am

    Yes Bankrupt sales are cheap.
    Perhaps they could sell the hotel rooms off as condos, or gut the hotels and put in chicken battery cages in – make a fortune.
    The inside rooms could be used to grow mushrooms . . .

  2. Avatar

    Mark Strevett

    Monday, November 9, 2020 at 5:58 pm

    What is the betting that a lot of bankrupt hotels will be bought by the Chinese?

    • Avatar

      Patrick Wahle

      Monday, November 9, 2020 at 7:44 pm

      You mean Chinese-Thais ?

      • Avatar

        Khun plastic

        Tuesday, November 10, 2020 at 6:44 am

        thai chinese own most businesses of any concequnce in thailand anyway as they have done for many many years.
        If you talk to any well educated thai about this subject they will probably give you an answer along the lines of “if the people from the middle Kingdom had not come here we would all be still sat on the beach pointing at the moon with our mouths open still”.
        have heard numerous variations of this
        in semijest form from hiso ish thais over the years.

    • Avatar

      Robert Elliot

      Monday, November 9, 2020 at 10:07 pm

      No Need to bet. Its a certainty.

  3. Avatar

    Fabian

    Monday, November 9, 2020 at 8:08 pm

    The mice cried, pricked with needles, but continued to eat the cactus.

  4. Avatar

    sam thompson

    Monday, November 9, 2020 at 11:17 pm

    And if you believe this advert, you also might like to know that they have removed the word gullible from the English dictionary

  5. Avatar

    Khun plastic

    Tuesday, November 10, 2020 at 6:24 am

    These people make english estate agents look like honest hard working people of the highest integrity!

  6. Avatar

    7.62mm of darwin

    Wednesday, November 11, 2020 at 1:50 pm

    Buying any property in Thailand or the Phillipines is like throwing your money out the window. Your chances of ever recovering it is slim at the best. When you attempt to sell it on you will find a very small market getting smaller by he day. My friend has 3 condos and cannot even visit them and to sell them it is almost impossible, what is worse is I cannot rent then because I cannot even leave Australia, and what is there now if I manage to get to Thailand. Its finished

    • Avatar

      Khun plastic

      Thursday, November 12, 2020 at 6:28 pm

      Was the same deal in Spain also, constant new launches, property steadily increasing in value on paper until you come to sell,then no buyer’s.

      Who would when you can buy a new property in the same area for the same sort of money.

      To this day I’m unsure if the Thai and Spanish property markets are pyramid selling schemes or if its just down to over development.

      More cynical local thai friend assures me both are simply large scale money laundering scheme’s!

  7. Avatar

    Kim Armitage

    Thursday, November 12, 2020 at 2:54 pm

    What good is a hotel with no tourists. The longer the fourteen day quarantine is compulsory the more likely people will find somewhere else with smiley faces.

  8. Avatar

    Leo Z

    Friday, November 13, 2020 at 9:06 pm

    The pesky problem is that the domestic tourism’s budget is 1500-2000 baht/day. It’s the same problem the Chinese have encountered with the “increased domestic consumption” slogan, you ain’t getting money from people who don’t have it.

  9. Avatar

    Khun plastic

    Saturday, November 14, 2020 at 1:49 pm

    So perhaps the number one no good cheep charlie’s were not so bad after all.

    • Avatar

      7.62mm of darwin

      Wednesday, November 18, 2020 at 4:47 am

      Let us take the official line of filthy farangs…..who wants to front up for that, if I wanted scorn I would visit Malaysia where I am Haram meaning unclean. I think I will follow royal example and try Germany when I can.

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Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

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