Pattaya’s Tulip Group has signed a with Golden Tulip Hotels and Resorts for a new luxury 5-star hotel on Soi 5 Phratamnak Hill, and plans to offer some rooms to property investors.
The luxury 25-storey high-rise building will be just steps from the stunning Cosy Beach in the Gulf of Thailand city. An Environmental Impact Assessment and building permit are already in place.
The company confirmed it is planning to offer a limited number of rooms in the hotel to property investors. Details have yet to be confirmed but it is expected that investors will be offered a leaseback program with guaranteed returns.
The 300-room property will have up the three restaurants, including a rooftop sky bar, spa, gymnasium, a huge swimming pool, meeting rooms, club lounge and a selection of deluxe rooms, suites and presidential suites.
Royal Tulip luxury hotels are exceptional properties situated in extraordinary locations. It operates three well-known brands; Tulip Inn, Golden Tulip, Royal Tulip, with a total of more than 230 hotels in 42 countries. It is part of an affiliate of Groupe du Louvre, which itself is owned by the Starwood Capital Group private equity firm and boasts more than 1,080 hotels in 41 countries.
This latest property will be Tulip Group’s second property with the operator. Last year it signed an agreement for a Golden Tulip Hotel and Residence in Central Pattaya.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
Recent stories you may have missed:
Ultra luxury project set for Hua Hin
Signs of bubble trouble in Bangkok
Sharp rise in Bangkok land prices
Distressed Phuket villas for sale