Ritz Carlton Reserve rises in Phang Nga
PHUKET: Luxury brand Ritz-Carlton is set to debut in Phang Nga with the recent signing of Similan Beach, a Ritz-Carlton Reserve.
Located in Bo Dan, just north of Tha Sai, the 79-villa resort will open by the fourth quarter of 2011. Developed by an institutional private equity firm, the site was previously owned by Kingdom Hotel Investments and had been earmarked for Raffles managed product.
According to Raffles project consultant Bill Barnett of C9 Hotelworks, there has been an explosion of high-end residential projects in Phang Nga over the past few years.
“Million-dollar villas have been rising at Natai Beach and prices for sea-front property have skyrocketed recently. Easy access to Phuket International Airport and good roads make the area a prime location for luxury resorts,” said Mr Barnett.
More luxury resort developments are also in the pipeline. Hong Kong tycoon Richard Li has acquired the 1,000-rai Thai Muang golf course site and is reported to be developing a large scale mixed use resort.
— Gazette Reporters
