Habitat Group set plans to launch its first property in Pattaya's luxury hotel sector. The Wyndham Atlas Wongamat Pattaya, which is worth Bt850 million, will operate under the Wyndham brand through a franchise agreement with Wyndham Hotel Group.
The hotel developer also partnered with Kosmopolitan Hospitality to manage the hotel. The project expected to be complete by mid-2020 will have units in the hotel available for investors, which will cost between Bt3.8 million and Bt9 million. According to Chanin Vanijwongse, CEO of Habitat Group, the group guaranteed investors a rental return of up to 6 percent.
In a statement, Habitat forecast demand for Pattaya's upscale properties will continue to grow while Thailand's Eastern Economic Corridor policy and the state's investment in public transportation systems will attract local and foreign investment.
Hotel brand franchiser and management services provider Wyndham Hotel Group has a global portfolio of more than 8,100 hotels in 78 countries. In the Asia Pacific region, the group recently signed five new hotels under the Wyndham Hotels and Resorts and Wyndham Grand brands across South East Asia.
Wyndham has planned to add two Indonesian hotels to its portfolio by the second quarter of 2018. The 259-guestroom Wyndham Opi Hotel Palembang will be Palembang, Sumatra's first five-star hotel from an international chain. It will open within the new Opi entertainment precinct in March 2018. In December 2017, the Wyndham Dreamland Resort Bali will open near Dreamland Bali with 190 suites and villas.
The hotel group also planned to bring its brands to Vietnam's resort destinations. As part of an approximately 2.5-acre mixed-use development in Cam Ranh Bay, the 423-guestroom Wyndham Grand Cam Rahn and the 855-guestroom Wyndham Cam Ranh are scheduled to open in 2019 on Cam Ranh's Long Beach oceanfront. The 1,079-key Wyndham Tropicana Nha Trang will also open in 2019 as part of a $200-million mixed-use development. Set to be the largest hospitality development in Nha Trang, the beachfront hotel in the downtown Loc Tho Ward will have two 50-story towers with hotel guestrooms and condominium units.