Seven Premier Inn hotels in Thailand and India are on the market through an international tender process with JLL's Hotels & Hospitality Group. Two of the hotels are in Bangkok and Pattaya in Thailand, and the other five are in India's New Delhi, Chennai, Bengaluru, Pune and Goa.
“We expect interest from global, regional and domestic investors attracted by a platform opportunity allowing for immediate rebranding,” Mike Batchelor, managing director of investments sales at JLL's Hotels & Hospitality Group for Asia, told the Bangkok Post.
Notably, the two Thai hotels can be owned outright by international investors. In Thailand, the Post notes, foreigners are typically restricted to owning a maximum 49 percent of freehold real estate.
The proposed Bangkok hotel is due to be completed in the first half of 2017. Rebranded last year, the Pattaya Hotel is located minutes from Pattaya's popular Second Road, in proximity to the resort town's beaches, retail malls and the famous walking street. The two properties have a combined 388 guestrooms.
The Premier Inn India portfolio, meanwhile, has 583 rooms in five of India's best-performing cities and will be among the largest hotel portfolios offered in recent years.
"We are witnessing the beginning of an upcycle in the sector and the renewed interest in Indian hospitality assets by global institutional investors, the Premier Inn's opportunity of unencumbered income-generating assets in top Indian cities is sure to be keenly contested," Paul Chakkrit, SVP of JLL's Hotels & Hospitality Group for Asia, said.