Mangosteen Resort Repriced to Sell at THB 200 Million

The Mangosteen Resort in Rawai has been repriced in order to attract a rapid sale at THB 200 million according to owner Hajo von Keller who contacted thephuketinsider.com. According the Mr. von Keller the pricing is below replacement value. With 41 keys and an established market there is room to expand the existing room inventory. Given the recent front page article in The Nation about 100 hotels in Thailand for sale, there remain few existing hotel assets currently on the market.
Another high profile southern hotel property Lehman's Laem Ka Four Seasons site is currently in the market with Jones Lang LaSalle hotels from Singapore and there are expectations that a transaction may be forthcoming.