C9 Hotelworks newly released ‘The Phuket Luxury Report‘ explores the rising prominence of Phuket as the leading luxury destination in Southeast Asia. What is driving demand for Phuket’s luxury real estate? The island’s combination of natural beauty, high-end amenities, and competitive pricing draws affluent investors and tourists worldwide. Compared to destinations like Miami, Dubai, and Marbella, Phuket’s luxury real estate market is competitively priced, averaging THB 231,579 (USD 6,415) per square meter. Upcoming infrastructure projects, including a THB 6 billion airport expansion and planned light rail system, further boost its investment appeal.
Where are luxury developments located? High-end developments are primarily located along Phuket’s west coast, with accessibility to international schools, healthcare facilities, and luxury retail outlets, particularly in Kamala and Cherng Talay/Bang Tao. The presence of luxury hotel brands in these areas, such as Banyan Tree, Rosewood, and Amanpuri, enhances their exclusivity and global appeal. This demand is driven by diverse buyer profiles, from expatriate families to young professionals seeking lifestyle and investment benefits.
What facilities define Phuket’s luxury lifestyle? The island offers top-tier facilities, including exclusive beach clubs, championship golf courses, and wellness centers, with brands like Clinique La Prairie. Phuket’s high-end marinas and private jet services cater to the ultra-luxury segment, further solidifying the island’s reputation as a premier destination for luxury living.
Overall, Phuket’s blend of luxury, prime locations, and lifestyle offerings establishes it as a compelling choice for both lifestyle buyers and investors aiming for a globally recognized luxury destination.
To download and read C9 Hotelworks – The Luxury Report Phuket CLICK
The C9 Sessions are back in Phuket this Thursday 31st October 2024. We have an awesome 90-minute program on luxury real estate, Michelin restaurants, international schools, hospitals and more.
Phuket has changed dramatically over the last few years as it has morphed from a tourist haven to a residential destination. The more recent transformation is its move to a luxury tier location for property buyers from around the world, buying to live rather than buying to let. The new mantra is Live Phuket.
Join us for a unique 90-minute learning session about all the factors driving this new luxury marketplace. The session will feature experts from international luxury brands and leading real estate developers as well as voices from hospitality, retail, education, medical, and culinary sectors as we examine the factors conspiring to build a global luxury lifestyle destination.
Opening the session will be the launch of The Phuket Luxury Report, an independent study by C9 Hotelworks detailing the rising luxury real estate market on the island. Get insights into what constitutes luxury and non-luxury residences and the importance of comprehensive services in luxury developments. Other highly relevant topics include hearing from the related industry sectors driving the luxury market, from luxury brands like Mercedes Benz and culinary leaders Michelin to medical and education – and why they are important indicators of a growing elite marketplace.
The C9 Sessions is an ongoing initiative by Asia’s leading branded residences advisory C9 Hotelworks in the hospitality and branded residences industries, inspiring change and advancing entrepreneurial thinking. This event is co-organized by Property Guru International (Thailand). This session will be invaluable for agents, and the wider industry, interested in understanding the luxury property market and what is driving its growth.
Event Schedule
Date: Thursday 31st October 2024
Venue: Amora Beach Resort Phuket
Registration: 3:00 pm onwards / Session: 4:00 to 5:30 pm
Attendance is free, to register for the event CLICK
Program
Introduction / David Johnson, CEO, Delivering Asia
Launch of the Phuket Luxury Report – presentation
- Bill Barnett, Managing Director, C9 Hotelworks
Insights from Phuket’s luxury developers
- Stuart Reading, Deputy CEO Laguna Resorts, Banyan Group
- Ravi Chandran, Corporate Affairs Director, Gardens of Eden
- Moderator: Jules Kay, Director, PropertyGuru International (Thailand)
Luxury Brands: what are the luxury property brand demand generators for Phuket?
- Simon Meredith, Head of School, British International School Phuket
- Wilaiporn Pitimanaaree, Senior Vice President, Central Pattana
- Pornchai Jitpreecharn, Assistant Managing Director, Mercedes Benz Phuket
- Dr.Thiti Samuthrat, Assistant Hospital Director, Bangkok Hospital Phuket
- Moderator: David Johnson, CEO, Delivering Asia
Food for Thought: how Michelin is driving luxury dining in Phuket
- Marco Turatti, Executive Chef, InterContinental Phuket Resort
- Mond Suwijak Kunghae, Owner & Chef, Restaurant Royd
- Moderator: Sumi Soorian, Senior Advisor, Phuket Hotels Association
In 2020, Aman Nai Lert Bangkok established a new standard for ultra-luxury branded residences positioning itself as the best-in-market product at the time. Today, the Porsche Design Tower Bangkok, developed in partnership with Ananda Development, has pushed those boundaries further, surpassing THB1 million (just over USD33,000) per square meter. This landmark project not only raises the bar for pricing but also positions Bangkok as a key hub for ultra-luxury urban living, attracting UHNWIs and setting a new benchmark for exclusivity according to C9 Hotelworks newly released Thailand Branded Residences Market Review 2024.
Overall, Thailand’s branded residences market now consists of 46 projects, totaling 10,081 units valued at USD5.7 billion. Of this, 67% of the units are located in resort destinations led by Phuket (41%), while 33% are concentrated in Bangkok. The median price in Bangkok stands at THB279,600 per square meter, significantly higher than the THB163,677 seen in resort areas, reflecting Bangkok’s premium status in the market.
With rising land costs in top-tier destinations like Bangkok and Phuket, developers and brands are increasingly eyeing expansion into second and third-tier locations such as Khao Yai and Rayong, where more affordable opportunities are emerging. Notable developments include the Kempinski Residences Khao Yai and Amatara Residences Rayong.
One critical issue facing branded residences in Thailand is greater clarity on how you can, and may not be able to obtain a hotel license for properties offering hotel-type rental management. While this pertains to both urban and resort developments, the most contentious area in the marketplace today is condominiums that wish to obtain a hotel license. There are inconsistencies in local jurisdiction interpretations of the law on converting residential properties to commercial use and this has created uncertainties in the property sector that need to be remedied.
To download C9 Hotelworks Branded Residences Market Review 2024 CLICK.
The 177-room Hilton Garden Inn Phuket, Bang Tao has traded to private equity group TriO Capital.
Operating under a franchise agreement with Hilton, the hotel opened in late 2021 and had been owned and operated under GCP Hospitality.
A strategic plan for a design and development upgrade under TriQ will kick off at the end of this coming high season in Q2 of 2025.
Hotel transactions in Phuket remain muted as there continues to be a gap between buyer and owner’s expectations. The most notable sales post-COVID-19 is the Evason Phuket to Malaysian Group YTL, which closed earlier this year.
South Korea’s luxury real estate market has evolved significantly, transitioning from traditional residential properties to innovative branded residences. The trend began in 2008 when The Ananti Hotel introduced a pioneering co-ownership model, targeting affluent buyers seeking luxury vacation homes and social prestige. This success spurred other domestic brands like Lotte and Hanhwa Resorts to follow suit, while international players such as Marriott, Banyan Tree, and Capella entered the market, adding investment appeal with structured rental programs.
Today, branded residences stand out as high-value investments within South Korea’s luxury real estate market. These properties often command a price premium of up to 4 times the market-wide built-up sales price. Seoul has the highest built-up sales price across all regions, reaching USD28,713 per square meter this year. Nevertheless, branded residences have higher price premiums in resort destinations compared to cities.
Jeju and Gangwon-do, two of the country’s emerging resort markets, have seen significant growth driven by increased tourism activity. The high accessibility from Seoul has spurred demand for secondary homes and investment properties in these areas. Branded residences with recognized affiliations are breaking market sales price records while maintaining an above-average sales pace as these properties are perceived to have higher investment value with less risk. Currently, branded residences in Jeju and Gangwon-do has 4 and 6 times higher built-up sales prices compared to market-wide averages, respectively.
Therefore, with more attractive rental management programs introduced by international hotel brands, we see branded residences continue to grow in demand in South Korea. Property prices in the existing market make branded residences competitive and a viable alternative asset class in the broader real estate sector.
To read and download C9 Hotelworks South Korea Branded Residences Market Review 2024 CLICK
Zanzibar’s tourism industry is experiencing a remarkable resurgence, having successfully surpassed pre-pandemic visitor numbers since 2022 according to a new report by C9 Hotelworks. In 2023, the island welcomed over 638,444 visitors from around the globe, marking a significant recovery. Projections for 2024 indicate a further 9% growth, with January to May arrivals reaching 255,408 compared to 234,444 during the same period in 2023.
The government’s comprehensive development plan for 2021-2026 aims to enhance Zanzibar’s infrastructure and economy, bolstering the tourism sector. A key milestone is the opening of the new Terminal 3 at Abeid Amani Karume International Airport, which now can accommodate up to 1.3 million passengers annually. This strategic initiative underscores Zanzibar’s commitment to becoming a global travel destination.
The majority of visitors to Zanzibar in May 2024 stayed for 8 days, with 94.4% citing holidays as their primary reason for visiting. Hotel demand in Zanzibar varies seasonally, with an average occupancy rate of 62% in 2023. The market is predominantly driven by European travelers, who account for nearly 60% of the total arrivals by sea and plane.
The hotel pipeline indicates improved economic stability, with international hotel chains signing with five new properties including Anantara, Four Seasons, and Canopy by Hilton, primarily in the luxury and upper upscale segments. The number of hotels in the pipeline has doubled this year, signaling a positive outlook for the tourism industry. The introduction of these diverse, high-end properties is poised to attract a broader range of tourists, further enhancing Zanzibar’s appeal.
To download the full Zanzibar Hotel Market Update 2024 CLICK
PHIST (Phuket Hotels for Islands Sustaining Tourism), Southeast Asia’s biggest sustainability event for the travel and hospitality sectors, will return to spark conversation and drive the green agenda this September, with an impressive line-up of key figures and industry innovators led by Peng Sum Choe, CEO of Pan Pacific Hotels Group.
Led by the Phuket Hotels Association, the non-profit organization of hoteliers focused on creating a bright future for Phuket, PHIST 2024 will run under the theme “One on One: Sustainability from the Top”, as it reveals how senior company executives can successfully build a forward-thinking corporate culture and drive positive change, not only within their own companies but across the entire industry and beyond.
Headlining this year’s event will be Peng Sum Choe, CEO of Pan Pacific Hotels Group, who has guided his company towards integrating sustainability into every aspect of its operations. This has led to the group achieving Global Sustainable Tourism Council (GSTC) Multi-Site certification for all eight of its properties in Singapore. He will come together with Jesper Palmqvist, Senior Director – Asia Pacific for hospitality analysts STR, to discuss the critical issue of green leadership.
Also driving the conversation will be Jayne MacDougall, Executive Director of the Phuket Hotels Association, who will reveal the details of the Green Planet School Farm Project – an important initiative that is empowering the next generation of organic producers.
Staged at Angsana Laguna Phuket in Phuket on 2nd September 2024, PHIST is not just another conference; it is a highly immersive and interactive learning event that will feature a series of candid debates and discussions, 18 workshops, career development sessions and networking opportunities that will encourage attendees to confront conventional thinking and create meaningful solutions to a range of environmental and community-focused challenges. Last year’s conference was attended by more than 1,000 people.
“I am grateful for the opportunity to address my industry colleagues at PHIST. Sustainability is a crucial issue, particularly for island communities, making this event an important platform for collaboration. I look forward to sharing my experiences and learning from the innovative solutions and insights of others,” said Peng Sum Choe, CEO, Pan Pacific Hotels Group.
“We are thrilled to announce Peng Sum Choe and Jesper Palmqvist as our headline speakers; they will provide the perfect blend of expertise and insight to inspire guests to create sustainable futures for their own businesses,” said Jayne MacDougall, Executive Director, Phuket Hotels Association.
PHIST 2024 is organized by the Phuket Hotels Association, and with co-founding partners C9 Hotelworks and Greenview and support from the American Chamber of Commerce Thailand (AMCHAM), QUO, Creative Concept AV Thaiger Media, Brand TD and Delivering Asia Communications.
To reserve a spot free at this special event, please register here.
The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024.
AirAsia Indonesia will be the carrier and flight frequency will be three times a week.
Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise at 5.6%.
For more on Bali, read C9 Hotelworks and Horwath HTL latest market report Bali Hotel and Branded Residences CLICK
Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket.
Join us in this unique, candid, and insightful half-day session that takes a closer look at critical issues facing women in the workplace. Our goal is to tackle topics which will help empower change and provide the tools and inspiration to make a difference. A special focus will be on how to enable career growth and still maintain a work life balance.
This is a learning event for those, regardless of gender, working in hotels, travel, restaurants hospitality tech, human resources, and the service sector.
The event is organized by the Phuket Hotels Association and C9 Hotelworks together with support from Dragonfly 360, Brand TD, Delivering Asia Communications, AMCHAM Thailand, SAii Laguna Phuket and Thaiger Media.
Event Schedule
Date: Saturday 31st August 2024
Venue: SAii Laguna Phuket, Similan Ballroom, 12:00 pm onwards
Registration
Session Schedule: 1:30 pm to 5:00 pm
Exclusive to Inclusive: Hospitality Leading the way for Neurodiverse Employment
Max Simpson, Founder and CEO, Steps
The Mission. Why is Diversity and Inclusion Important Today
Christina Ho, Airline Pilot | From a Fashion Designer to an Airline Pilot | TEDx Speaker
Managing Success at Work and with a Family
Kirsten Fletcher, Australian Consul -General, Phuket
Gaining A Voice, LBGTQ+ In the Hospitality Workplace
Nikki Phinyapincha, Founder, TransTalent Consulting Group
Female Leaders in the Restaurant Industry
(Moderator) Emma Gray, Vice President Marketing and Business Development, Delivering Asia Communications
Panel speakers
- Samantha Häberli, Plant-Based Holistic Nutritionist, F&B Executive at Soneva & Founder of The Earthling Cafe, and Earthling Consulting
- Atchara Wongthai Palleros, Wine Training Manager & Wine Sommelier, Tops Wine Cellar, Central Food Retail Co., Ltd
- Tipaporn Phianthong, Chef the Cuisine, Banyan Tree Group
Session Co-Host
Sumi Soorian, Senior Advisor, Phuket Hotels Association
Short coffee and tea break
A Woman Leader. Leading Between the Lines
Anchalika Kijkanakorn, Founder and Managing Director, Akaryn Hospitality Management Services (AHMS)
Why We Need Role Models. The Power of Inspiration
Julie Cancelloni, Founder and Managing Director, Inspiring Girls Thailand
Networking and Building Meaningful Connections
Naureen Ahmed, Founder, Inspiring Women in Hospitality
Understanding Mental Health and Wellbeing
David Boucher, Chief Executive Officer, Bumrungrad International Hospital Phuket
Paul Hawco, AVP Executive Global Director Integrated Welbeing, Banyan Group
DEI (Diversity, Inclusion, Equity) Training – A Short Course
Papungkron Numprasit, F&B Instructor and Supervisor in the Sustainable Hospitality Challenge, Dusit Thani College
Session Co-Host
Viona Zhang, Deputy Managing Director, C9 Hotelworks
Admission is THB500 payable at the door, with proceeds going to the non-profit Phuket Hotels Association training fund. Advance registration is required and QR code from Eventbrite is required for entry. SAii Laguna Phuket will be offering a special event lunch option. Parking is available and details will be sent out prior to event.
Please click for event registration HERE