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Bidding for Phuket Town’s Thavorn Grand hotel, soapy massage closes tomorrow

Legacy Phuket Gazette

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PHUKET: The bidding deadline for Phuket Town’s iconic Thavorn Grand Plaza Hotel and adjoining facilities will close tomorrow at 4pm.

A spokesperson from Star Asset Management Ltd told the Phuket Gazette that closed bidding starts at 415 million baht.

The package for sale is for the 17-storey, 154-room hotel, its attached grand ballroom, car park and the adjoining “soapy” massage parlor in a single offer the spokesperson said.

All in, the offering comprises four Chanote land titles comprising a total of about 7 rai and built-up space of no less than 30,000 square meters.

The hotel and massage parlor were developed from 1990 to 1992 by Phuket’s Dilok Group and finally acquired by Star Asset Management, a subsidiary of ACAP Advisory Pcl.

According to the Chanote titles, the acquisition was finalized in December 2010.

Last October, the firm held a closed auction for the hotel starting at 420mn baht, while the massage parlor was offered separately starting at 60mn baht.

“We did not have a winning bid for either, so now we’ve combined the offering and lowered the opening bid,” the spokesperson explained.

 

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