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Posted: 01 Apr 2009 | 9:39 am
Bangkok based Astudo Hotel and Resort Group will open the branded 79 key D'azure Residences in Kata under their Le Bayburi flag in 2010. The expanding hotel management company also recently announced the signing of Mandalay Gardens in Koh Samui. Astudo also operates the X2 Resorts, Away Resorts and The Case brands.
D'azure is a 7 story condominium offering studio, two bedroom and penthouse units in the well established Kata market. There continues to be a trend for condos and apartments to be hotel branded such as Outrigger Serenity Terraces, Moevenpick Residences and West Sands; while attracting yield based property investors. As the real estate market continues to feel the current economic crunch, there is an expectation to see residential developers convert projects to hotel management schemes.
There are a number of organically grown Thai management chains emerging these days including Aleenta, U Hotels and Resorts, InVision and Bed. It will be interesting to see how this David versus Goliath battle emerges against the international brands, but given the long tail of technology the playing field is evening out for smaller chains.
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