BANGKOK, 13 November 2024 : JLL’s Hotels & Hospitality Group has brokered the Hyatt Regency Bangkok Sukhumvit sale, credited with being Thailand’s largest single-asset hotel transaction on record.
JLL represented Thailand-listed firm Grande Asset Hotels and Property Public Company Limited on the THB5 billion (USD155 million) Hyatt Regency Bangkok Sukhumvit transaction.
“Thailand continues to solidify its position as one of the most attractive global gateway destinations in the hospitality industry, drawing interest from diverse domestic and offshore investors. We’re proud to deliver this landmark transaction for our client and have deep confidence in Thailand’s strengthening position as one of the most consistent capital draws for hospitality investors. The Hyatt Regency Bangkok Sukhumvit sale significantly adds waves of capital to the Thai hospitality sector. Over the past several years, we have brought capital from local and cross-border sources into the industry, and we expect to build momentum in the coming years,” said JLL Hotels & Hospitality Group.CEO, Asia Pacific, Nihat Ercan.
The transaction represents a rare landmark in the tightly held Bangkok grade-A hospitality market. According to JLL, assets in prime CBD locations such as the Hyatt Regency rarely trade and are highly prized, commanding strong interest from long-term and strategic investors.
