Habitat Group plans Wyndham hotel for Pattaya

[Jonathan Fairfield]

Habitat Group plans Wyndham hotel for Pattaya

 

 

Habitat Group is planning to break into the Pattaya luxury property market with the launch of Wyndham Atlas Wongamat Pattaya worth Bt850 million at price ranks between Bt3.8 million and Bt9 million per unit.

 

The Habitat Group’s latest hotel development will carry the Wyndham brand under a franchise agreement with Wyndham Hotel Group, which will license the use of its trademark. Wyndham Hotel Group is a leading hotel brand franchisor and hotel management services provider with a global presence of more than 8,100 hotels in 78 countries.  

 

Habitat Group, the developer of the hotel, has also partnered with Kosmopolitan Hospitality for the management of the hotel. Habitat Group is fully optimistic about the demand for upscale properties in Pattaya and is confident that Thailand's Eastern Economic Corridor (EEC) policy and the state’s investment in public transportation systems will attract considerable local and foreign investment, according to a Monday press release. 

 

Habitat Group aims to complete the project by mid-2020 with units in the hotel available for investors, priced between Bt3.8 million to Bt9 million. Habitat Group is guaranteeing investors a rental return of up to 6 per cent, Chanin Vanijwongse, CEO, Habitat Group Co Ltd said in the release.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30330958

 

 

-- © Copyright The Nation 2017-11-06

[KittenKong]

A hotel with units being sold individually to investors for between 3.8MB and 9MB?

 

That doesn't sound much like a hotel to me.

[bkk6060]

11 hours ago, KittenKong said:

A hotel with units being sold individually to investors for between 3.8MB and 9MB?

 

That doesn't sound much like a hotel to me.

If the short time rentals continue it makes sense.  It can be big money.

The Base is basically a hotel now mostly Chinese ST.

[midas]

13 hours ago, KittenKong said:

A hotel with units being sold individually to investors for between 3.8MB and 9MB?

 

That doesn't sound much like a hotel to me.

Okay let's see how this is financed. A big company like this has no excuse whatsoever to engage in the sleazy practice of using deposits and progress payments to finance the development itself and any monies paid in advance should strictly be deposited into escrow otherwise there is zero credibility.

[KittenKong]

26 minutes ago, bkk6060 said:

If the short time rentals continue it makes sense.  It can be big money.

The Base is basically a hotel now mostly Chinese ST.

 

I understand that, but nowhere is it called a hotel. It's a condo building. (Albeit being used incorrectly and illegally.)

[bkk6060]

Maybe more like a time share,,,

[newnative]

1 hour ago, bkk6060 said:

If the short time rentals continue it makes sense.  It can be big money.

The Base is basically a hotel now mostly Chinese ST.

And, all illegal if the stays are less than 30 days.

[Ulic]

Seems to have a business plan that will work, (provided they have a hotel licence) Sounds

like it will run as a condo-tell. I have far more belief in this operation than others offering

some bogus 8% - 12% "guaranteed" return.

[bkk6060]

Just now, newnative said:

And, all illegal if the stays are less than 30 days.

Yeah, its been talked about a 100 times here.

But, no one does anything about it including Sansiri who built The Base and has a Holiday rental division specifically for ST rentals.

Edited November 7, 2017 by bkk6060

[newnative]

46 minutes ago, bkk6060 said:

Yeah, its been talked about a 100 times here.

But, no one does anything about it including Sansiri who built The Base and has a Holiday rental division specifically for ST rentals.

True.  When The Base first opened my partner and I talked with the Sansiri staff about their rental division and we were told the rentals would be for 30 days or more.  That's obviously fallen by the wayside.  The illegal rentals could be greatly curtailed using fingerprint technology for elevator and floor access (easily done at The Base since the elevator lobbies already have keycard access) but the greedy people doing the illegal rentals seem to have the upper hand and regular residents suffer as a result. 

[bkk6060]

Just now, newnative said:

True.  When The Base first opened my partner and I talked with the Sansiri staff about their rental division and we were told the rentals would be for 30 days or more.  That's obviously fallen by the wayside.  The illegal rentals could be greatly curtailed using fingerprint technology for elevator and floor access (easily done at The Base since the elevator lobbies already have keycard access) but the greedy people doing the illegal rentals seem to have the upper hand and regular residents suffer as a result. 

100 % on.

 

The lobby there before was a fricken zoo 50 people plus all day long.

Now, they are being met outside the front gate near 2nd road, given their keys, and walk in.  Security does nothing at the gate.

 

I know a few Thais that are renting, then sub renting on airbnb and the such.  15 to 20 places.

Like I have said before, it is huge money if one has the time to manage it.

[som69]

100 % on.
 
The lobby there before was a fricken zoo 50 people plus all day long.
Now, they are being met outside the front gate near 2nd road, given their keys, and walk in.  Security does nothing at the gate.
 
I know a few Thais that are renting, then sub renting on airbnb and the such.  15 to 20 places.
Like I have said before, it is huge money if one has the time to manage it.

same situation at centric sea condo ... big business with short term rent

[morrobay]

And the correction from yesterdays paper : A condo aimed at the Chinese on Soi  22 Naklua.  I guess in place of a failed project on soi 22. This increase in the Chinese is amazing. A year ago the speedboats to Ko Larn were just in front of Hard Rock. This morning at 8 am it was lined up from Soi 1 to Pattaya Klang. Made a left there so not even including the boardings all way to Walking st. That area around Soi 22, 24 is one of last peaceful areas. I fortunately for a number of reasons just moved away from the madhouse to the South , now it looks like even Naklua is filling up with Chinese 

Edited November 8, 2017 by morrobay
correct