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Posted: 01 Nov 2011 | 9:42 am
The management relationship between ACCOR's Novotel chain and the Panwa Beach Resort has ended.
Currently the 75 room hotel is operating independently, though sources at the property say ownership is speaking to another international chain at present.
In 2010 the hotel was sold for a reported THB870 million baht by the Thai listed firm Natural Park to Ton Vassana Company Limited.
An extension which would have seen a second phase developed for a total count of 216 rooms has been partially completed, though stalled given the collapse of a partnership with financial firm Lehmans Brothers.
ACCOR currently operate a number of properties in Phuket with Novotel flags in Patong and a second and third under development in Kamala and Patong respectively.
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