The number of foreign tourists continue to grow even with the current unstable political situation. It seems though that it only has a minor effect to the travel industry and Thailand is still a very attractive country for investors.
Mr. John Lim, The MD and Founder of Manor Group Singapore, mentioned that he had started his business in Singapore by developing small properties, however the investments in Singapore have high risks because of high expenditures especially for a plot of land. To invest in other countries is a good alternative especially in the hospitality industry. Beach destinations are not the main idea and he prefers a unique design building to create memorable experiences.
The first country for his project is Malaysia with the Edison Hotel in Penang and the second one is in Chiang Mai, Thailand.
The akyra Manor Chiang Mai, with an investment of 300 million Baht and managed by the AKARYN hotel group, is a 5 star hotel located in Nimmanhaemin area. It is scheduled to open in October 2015.
Akyra Manor Chiang Mai takes its inspiration from of a state of the art concept. A hotel for people with strong interest and passion for art and photography, it comprises of 30 keys with 23 Akyra Deluxe at 60 sqm and 7 Manor Suites at 100 sqm. With its outstanding design compared to other buildings in the same compound, the average room rate is between 200 – 300 USD.
The hotel room rates in Chiang Mai ranges from 10-20 USD to 400 USD. The akyra Manor is rated 5 star hotel; therefore, the rate strategy focuses on 5 star services, focused on delivering the best and memorable personalized services with the outstanding and unique design of the building and its facilities.
Manor Group continues to look for and plans to develop more properties in Thailand. Plans include a second 5 star hotel property in Chiang Mai with a total investment of 400 million Baht, a co-working space and hotel in Bangkok targeting Thong Lor area. For both areas, Manor Group will take over existing buildings by reconditioning and designing the interior and exterior by their own experienced and professional design studio.
The concept for the Bangkok property is to meet the demands of new generations who are looking to set up their own businesses where a working space, small meeting room combined with accommodations will be provided with reasonable room rates as compared to the other competitors in the area.
Manor Group also works on an F&B business where “The Italics” is their first Italian fusion concept restaurant in Soi Ruamrudee, Bangkok. Within 2-3 years’ time, Manor Group plans to expand the restaurant to 6 branches. The expansion of the restaurants will be mainly located within new hotel properties and a few stand-alone units.
After Thailand, Manor Group has plans to develop more hotel properties in Penang, Malaysia and further extend their business to new destinations like Tokyo and South Korea where tourism is constantly increasing.
Apart from hotel businesses and restaurants, Manor Group also handles a logistics company in Singapore which they plan to develop in Thailand as well.
(Source: Post Today, Thailand | Business-Marketing Section | Page B4)