Five-star boutique hotel to open in Khao Yai, Thailand
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By Nondhanada Intarakomalyasut
Kirimaya Co, a new real estate developer, has invested one billion baht to
develop the first five-star boutique hotel in Khao Yai with a golf course.
Kirimaya, a 60-room luxury resort which has a 400-500 rai 18-hole golf
course designed by Jack Nicklaus, will officially open on Dec 1.
The company was founded by Kitti Thanakitamnuay, the chairman of Noble House
Plc. Mr Kitti said that he was interested in entering the tourism market,
one of the largest foreign currency earners for the country.
"I hope to turn a new page of history for Khao Yai which will soon be
granted World Heritage status, and help develop the area into one of the
world's top tourist destinations," Mr Kitti said.
He expects the project would reach the break-even point in 7-10 years, with
its main target groups being from Europe and Japan as well as local
executives and expatriates.
During the first six months of its operation, the company will invite
500-1,000 golfers locally and worldwide to become the members of its golf
courses.
There would be no membership fee but each member will have to place a
500,000-baht deposit which will be returned three years later with interest.
Mr Kitti said in the first year of operation, the resort expected to have an
occupancy rate of least 50 percent and post an operating profit of about 10
million baht. The proportion of guests initially will likely be 30 percent
foreigners and 70 percent Thai.
The resort is managed by ALiLA, a Singaporean-based hotel management group
which operates properties in in Jakarta and Bali.
Mr Kitti said that ALiLa was well-known among Europeans and is now promoting
its brand in the United States
Asked whether the negative factors in the country like the unrest in the
South and the high fuel prices would have an impact on the hospitality
business, Mr Kitti said that it was even more essential to strengthen
tourism in the country to earn foreign revenue as the country could no
longer depend on local spending alone.
"We have to generate more revenue from overseas as the personal debt of
Thais is hitting the ceiling and the government could no long afford to give
large handout to the general population," he said.
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