Thailand: Minor Hotels picks 50% stake in H&A Park for $22.5m

Image from pixabay.

Minor Hotels has acquired a 50 per cent equity interest in H&A Park from existing shareholder B&G Park for 765 million baht ($22.5 million) to operate Ananda Hua Hin Resort and Spa, a beachside resort in Hua Hin, Thailand.

Following the investment, the resort will be rebranded as Avani Hua Hin Resort and Spa on November 20, the company said last week.

Avani Hua Hin is a 196-room resort with a 900-square-metre ballroom, the largest in Hua Hin.

Avani, a Minor Hotels brand, currently operates 18 properties in several countries including Thailand, Sri Lanka, Vietnam, Malaysia, Seychelles, Mozambique, Botswana, Lesotho, Namibia, Zambia, the United Arab Emirates and Portugal.

Minor Hotels also plans to launch Avani Sunset Coast Samui Resort & Villas, another property in Thailand, in September 2018.

Hua Hin has seen a surge in investments from real estate developers.

Proud Real Estate Co, owned by the Liptapanlop family, has launched many projects in Hua Hin to tap the tourism boom in the west coast of Thailand. Its projects include the recently opened 1.8-billion-baht Holiday Inn Vana Nava Hua Hin, next to its theme park Vana Nava Water Jungle Hua Hin that has been in operation for three years.

Last year, the family announced a 50:50 joint venture with The Mall Group and True Arena Hua Hin to set up the BluPort Hua Hin Resort Mall.

Meanwhile, Enrich Group has agreed to operate a mixed-use project, which will be developed in Hua Hin next year by Dusit International and Plus Property. The project will consist of a 150-room hotel, run by Dusit, and a 364-unit condominium, managed by Plus Property.

Also Read:

Thailand’s Minor International invests $28.38m to raise stakes in 5 Africa-based firms

Thailand: MINT completes Tivoli Group’s $318m acquisition

Thailand: Origin Property acquiring Proud Residence for $116m, PN Capital exits

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.