Sunbelt Asia Weekly Column
14 June 2019
A recent report from Expedia showed that its partner hotels had shown a steady 10 percent growth in guests year on year, with the bulk of Expedias bookings coming from the United States. China is the second-largest market overtaking Japan, Hong Kong and South Korea for the first time in two years. Expedia also reported that Chinese and Indians showed growing interest in premium hotels with more than 60 percent of the bookings made by Chinese and 55 percent of those made by Indians being in 4-star and 5-star hotels. While Bangkok, Pattaya and Phuket remained the most visited cities by Chinese and Indian tourists, Hua Hin saw 110 percent growth in bookings through Expedia, Koh Phi Phi and Koh Lipe both saw 100 percent growth.
Charoen Pokphand Group will be working with China Railway Construction Co Ltd and other companies including Italian-Thai Development and CH. Karnchang, as well as subway operator Bangkok Expressway and Metro to construct the high-speed rail line linking Suvarnabhumi International Airport, Don Mueang International Airport and U-Tapao in Rayong near Pattaya. The Cabinet approved the contract last week and the company is expected to sign the contract with the State Railway of Thailand this month. The goal is to start operations in 2024.
The single card linking the MRT and Airport Rail Link will come into use in September but an all- purpose card/payment system has been delayed until 2020 as the Mass Rapid Transit Authority of Thailand (MRTA), the state agency overseeing construction and the operation of urban mass-transit rail systems determines if it will develop the payment system or if it will have Krung Thai Bank do it. A single ticketing system linking all mass transit, including the Expressway, buses, boats, BTS, MRT and ARL is expected to take about 12- 18 months to develop.
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Highly Tated Lakefront Restaurant in Phuket
This highly rated restaurant is located near the beach in Phuket, with the opportunity to add a lakefront dining area, this restaurant has huge growth potential. Set in a tropical, open air pavilion, this restaurant has received rave reviews. The owner invested 30 million baht in this large restaurant that seats 150 people. Including a fun club vibe, the restaurant has a swimming pool as well. The business has seen about 35 million in revenues. There are between 20-40 employees and a monthly rent of 160,000 baht. Furniture fixtures and fittings valued at 7 million baht are included in the sale. The owner is looking to sell far below their investment at 18 million baht.
This is a great opportunity for someone looking to walk into an ongoing popular restaurant in Phuket.
ASKING PRICE: 18 million baht
New price for Licensed Hotel in Top Chaweng Location on Samui
Located in one of the top locations in Chaweng near Soi Green Mango on Koh Samui, this hotel has 28 rooms with four different room types all fitted out with TVs.
Catering to all kinds of travelers, the hotel also has 8 hostel rooms with bunk beds and 1 dorm room. Fully fitted out with an elevator, generator, water tanks, storerooms, emergency stair exit, and reception the hotel does have a hotel license.
Fully renovated in 2017 the sale includes all equipment, fixtures, and fittings as well as the Thai company and the hotel license. This allows the new owner to walk in, take over the premises with a new name and run it right from the get go.
The owners are selling as they are focusing on their franchise business and are looking to reduce operations on Samui.
The hotel has a lease contract through 2031 with the annual rental set for each three year period so the new owner just has to walk in and take over without worrying about negotiating a new deal.
NEW ASKING PRICE: 18 million baht
Restaurant in Khao Takiab Near Hua Hin, Includes Chanote Title
Located in the fast developing beach town of Khao Takiab, only 7km from Hua Hin, this lovely café is only a few minutes walk from many major four and five star hotels. Included in the sale price is chanote titled property and the business as well as all fixtures, fittings and equipment. If you have always wanted to live near the beach and run your own business, then this is a fantastic opportunity.
The restaurant has been open since 2005 and is fully equipped with all necessary restaurant and bar equipment including a kegerator. There are three floors with the top floor a private apartment that could be used by the owner or rented out. There is plenty of space for diners and a new garden area that is leased at 50,000 baht a year was recently added. The café is beautifully decorated with hand-painted murals from a well-known Thai artist, sourced brick, and a gorgeous European meets Asia aesthetic.
The owners will include all supplier contacts so the new owner can just walk in and take over. In the high season there are 8 full time staff and in the low season 6. Monthly wages during the high season are around 80,000 baht, sales during the high season average on 30,000 baht a day. The owner is selling the business as they are ready for a new challenge after building up this restaurant and bar.
ASKING PRICE: 16.5 million baht includes land
Wood Manufacturing Business in Chiang Mai
This manufacturer of solid wood doors and windows is located in Chiang Mai, a popular destination for both expats and Thais looking for a second home.
Known for its timber, this company uses high quality teak or mahogany for its top quality windows and doors. The company also produces top quality wooden flooring including parquet, tongue and groove and decking. The business sends their high quality wooden products across the country.
The business was established in 2010 and owns the land the 1500 sqm factory is set upon. The factory has two floors and nine full time employees.
The monthly payroll is 120,000 baht and the business saw sales of 7.14 million baht in 2014 and profits of 2.85 million baht. Top quality inventory valued at 800,000 baht is included int the sale. The owners are retiring and so wish to sell the business.
ASKING PRICE: 24.9 million baht
Hotel with Service Apartment License in Asoke area
This well-reviewed hotel is in the heart of the Asoke area, a few minutes walk from Terminal 21 and both the MRT and BTS. The owner of this hotel has put in a lot of effort to boost its visibility in the year that it has been open and it generally reaches 85 percent occupancy. This is a great opportunity to walk into a turnkey business. The location cannot be beat, and the rooms are comfortable and tastefully decorated. Every room has air conditioning and a safe, deluxe rooms have refrigerators, there are two family suites out of the 33 total rooms so the hotel can cater to every need. The ground floor size is 145 sqm and Floor 1-4 is 790 sqm. Total space is 935 sqm.
The rooms are soundproofed from the restaurant downstairs which has earned a reputation for good food, friendly staff, and a chic industrial style. The business has a serviced apartment license and offers rooms by the month. Each room has key cards and a POS system. There are 7 more years on the lease with a monthly rental of 300,000 baht. There are 12 employees and wages of 180,000 baht.
The owner has invested much time and effort in the business and is ready to try something new.
NEW ASKING PRICE: 27 million baht
Online Business Perfect for One Person
Walk in and take over a small one-person business perfect for someone who wants an online business. This online expat directory and guide website is for sale and has been in operation since 2017.
This is easy to run from a home office or anywhere! And requires one person to update and sell advertising. The only expenses are the accountant monthly fee of Baht 5,000 (60,000 Baht for 1 year) and te website yearly payment of US$ 697 (about 24,000 Baht for 1 year ). Other expenses include the CRM customer data program costs about 985 Baht a month (11,820 Baht for 1 year.), all other revenue was profit which can be taken as a salary. Revenues are raised from selling advertising, banners, featured listings etc.
The website updates are simple to do with the back office system, no coding skills are needed. there is a great support team available in USA for any technical issues, included is a CRM system that has all records of clients and contacts.
ASKING PRICE: 2.2 million baht
Long-Running Restaurant in Great Asoke Location
This long-running Indian restaurant is in a great location near the BTS station at Asoke. The restaurant has been in business for more than 17 years and has built up not only great word of mouth but excellent reviews. The new buyer can take over the existing Indian restaurant or start something of their own.
This is a top location right on Sukhumvit Road. Rent on the four story building is only 80,000 baht a month, with a potential rooftop space to be developed. Sales for the restaurant are around 300,00 baht a month and as it has been a family run business, all employees are family members.
The owners are looking to retire and so are parting with this top location.
ASKING PRICE: 3.5 million baht
Restaurant and Bar in Amazing Soi 11 Location
In the heart of the happening Soi 11 on Sukhumvit the owner is selling both a popular French restaurant and the bar (two separate businesses, same great building). The new owner would walk in and take over the entire 5 story building, fully fitted out with beautiful décor and a fabulous ambiance and great reviews.
There is a total of 520 sqm in the building and the owner invested more than 30 million baht to fit both spaces out with high quality furniture, décor and equipment. Rent on the building is 270,000 baht a month with a 3 + 3 year lease. There are 31 full time staff with monthly wages of 700,000 baht. Sales in the low season reach 2 million and 3 in the high season. A dedicated owner could grow these figures, the current owner is selling as he has no time to concentrate on these businesses as other ventures take up his time.
ASKING PRICE: 16 million baht