Thailand’s Tulip Group has entered into a management agreement with Accor for its prestigious waterfront development in Pattaya that will see the project operating as a MGallery hotel.
The Waterfront Suites and Residence will feature 300 condominium units as well as the 120 upscale guest rooms that will form the MGallery hotel, which is set to open in the first quarter of 2015.
Speaking at a recent event Tulip Group Vice President Jason Payne said: “Everyone at Tulip Group is extremely excited to be working with such a prestigious company as Accor. We feel that the MGallery brand is perfectly suited to our unique and iconic property.”
Patrick Basset, Chief Operating Officer for Accor Thailand, Vietnam, South Korea, Cambodia, Laos, Myanmar, and the Philippines, added: “We have been searching for the right property in Pattaya with a unique story and distinguish characteristics that will fit the profile of the upscale MGallery brand, and now we have found it. We are proud of this new partnership and would like to thank Tulip Group for their trust in choosing to work with us.”
Tulip Group’s Chief Executive Officer Kobi Elbaz was equally excited about the agreement.
He said: “I have wanted to work with Accor for some time, and I hope that this will be just one of many properties that we will work on together. I am convinced that this hotel will be one of the most exciting to be built in Pattaya”
Payne told DDproperty.com that The Residences are now 87 percent sold, with English, Russians and Thais the most prolific buyers to date.
He added: “We recent sold a penthouse for THB264,000 per sqm – the most expensive property to be sold in Pattaya.”
Tulip Group is the owner and developers of luxury condominiums and hotels in Pattaya. It currently has five condominium projects and six upscale hotels under construction, working with local and international hotel operators such as Centara Hotels & Resorts, Accor, Golden Tulip Hotels and Red Sea Group.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate please email andrew@propertyguru.com.sg