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.

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