Hotel Okura Signs Deal for Two Thailand Properties
Skift Take
Hotel Okura Co. Ltd. and Asset World Corporation have signed a new management agreement to open two Okura-branded hotels in Thailand by 2028, expanding Hotel Okura’s Thai portfolio to seven properties.
Botanica Luxury Villas, based in Phuket, Thailand, announced plans for significant portfolio expansion following record-breaking sales of THB1.2 billion (roughly $35 million USD) in a single month in 2024. Phuket's villa market has reached a historic THB160-170 billion, with villa launches surpassing condominium launches for the first time in 15 years. Botanica Luxury Villas has expanded its reach beyond Phuket with developments in Krabi and Hua Hin with both locations attracting growing interest from Europeans, Australian and Chinese buyers seeking high-end vacation homes and getting rental yields of 6%-8% annually. The company's portfolio includes 27 projects across three major tourist destinations, with its 2025 pipeline featuring several mixed-use developments. One is Botanica Grand Avenue, a THB12 billion mega project near Phuket's Bang Tao Beach, including HYTHE by Botania, the company's first luxury condominium project. All the expansion aligns with Thailand's
