Wyndham Hotels & Resorts (Wyndham Grand) collaborated with CISSA GROUP to penetrate the investment property market under the brand “Wyndham Grand”, emphasizing on the premium market with luxury products in tourist cities, and also upgrade the project, “Wyndham Grand Nai Harn Beach Phuket. It was revealed that this was the first hotel on Nai Harn Beach in Phuket and the second hotel in Thailand to be managed under the brand “Wyndham Grand”. They announced to cooperate and develop premium products in order to support the market demand. Wyndham foresaw that Thailand was also worth investing in. The tourism market was still expanding in terms of existing resources and government support. Thailand was remarked as a World Class Investment Destination.
Mr. Autthanop Pandkamnerd, the Chief Executive Officer of CISSA GROUP Company Limited, the leading investment property developer, revealed that although the overall property market slowed down, properties in tourist cities like Phuket still had demand for real estate, especially in the group of foreign customers and Thais, who purchased properties for investment. This caused the market of investment property with guaranteed yield to have high demand. It could be seen from the increasing number of investment property projects in Phuket.
“The demand for real estate from foreign investors in Phuket is an important factor to draw the purchasing power, including Thai people who want to find new options of investment due to the situation of low interest rates because they almost receive no returns. The investment in Investment Property is an alternative that provides superior returns on the market, especially in tourist cities where there is a certain group of tenants. It is an important factor that makes property investment with guaranteed yields become popular.”
Over the years, entrepreneurs in Phuket have turned to develop investment property products, resulting in high competition. Cissa Group has foreseen the direction of this market so it announces a major cooperation with WYNDHAM Hotels and Resorts, the world’s largest franchising hotel and resort, to develop products to meet the needs of customers in the high-end market. The Company’s latest project has been upgraded to Wyndham Grand Nai Harn Beach Phuket.
Mr. Joon Aun Ooi, the President of Wyndham Hotels and Resorts in Southeast Asia, revealed that the tourism market was also an important variable in stimulating the economy, especially in Thailand, where tourism resources were outstanding. It also had the advantage of its location, compared to other countries in Asia Pacific. In addition, the government introduced measures to support the tourism which attracted foreign tourists to Thailand or the domestic tourism measures. These were good for the tourism market and Thai economy.
In major tourist markets like Phuket where the number of tourists from the European market is quite high compared to the number of tourists traveling to Phuket, Wyndham Hotels & Resorts focus on product development and select a partner to run the business together. CISSA Group is considered to be a company specialized in property development in Phuket as well as the southern region for over 15 years. As a result, both parties made an agreement to develop products together with the target groups in the high-end market or luxury market under the brand, Wyndham Grand.
Therefore, the Wyndham Grand Nai Harn Beach Phuket Project, which is being implemented, has been upgraded to allow customers to experience an excellent stay with 5-star premium services. It is to position the market together. Both parties will sign the agreement to study the market and develop property together in the form of “Investment Property” under the brand. Wyndham Grand, the 5-star premium luxury brand of Wyndham Group, in order to support Thailand’s World Class Investment Destination, where investors from all over the world still want to invest in and travel to.
However, Wyndham Grand Nai Harn Beach Phuket Project is an investment property developed by Cissa Group Company Limited. It receives the feedback from WYNDHAM Hotels and Resorts, the global brand, to perform the hotel management. The investment model offers 6% guaranteed investment yields for the first two years and the dividend payment for the 3rd to 15th year based on operating results of the hotel. The investors will receive the full 100% proportion of income after deducting expenses.
As predicted, investors have the opportunity to receive the average annual yield of 10% if the average occupancy rate is at least 80% per annum. Investors have the right to ownership and hold the title deeds invested. Investors not only receive a return on investment from the management of Wyndham, they also get free 30-day hotel stays per year and many other privileges.
Wyndham Grand Nai Harn Beach Phuket Project is located on Nai Harn Beach, one of Phuket’s most famous beaches. It is a 4-storey building, divided into 2 types of rooms with the sizes of 40 square meters or more and 60 square meters, totaling 353 units. There are 12 buildings, divided into 4 buildings fully operated as a hotel and 8 buildings separately sold for investment. The occupancy is managed by Wyndham. More than 80% of bookings have now been made and the hotel is preparing for full opening in the first quarter of 2020.
