Government Pension Fund Targets Hotel Assets

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Posted: 21 Jul 2010 | 6:00 am

Recent quotes from a high ranking executive of the Thai Government Pension Fund show the institution is keenly eyeing increasing its hospitality assets through the hotel sector.

GPF Deputy Secretary General Yingyong Nilasena said in the Nation Newspaper that "new investment opportunities in real estate, in particular hotels and department store" are of interest.

Viewing the funds track record they obtained a significant shareholding in Phuket a few years ago in the Holiday Inn Resort in Patong which is jointly owned with Singapore developer Lum Chang.

Institutional investors such as GPF most often target stabilized operating assets with reasonable recurring yields versus Greenfield projects where development risk is present.

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