Destination Properties buys Surin Beach Resort

Destination Properties has announced a new addition to its portfolio of resort properties in Thailand: Surin Beach Resort in Phuket. Lehman Brothers provided the financing for the acquisition.
Located on Phuket's west coast, Surin Beach is considered one of Phuket's finest. The property will be renovated and re-branded with an international hotel operator in the coming months. Renovation will cover all 256 rooms as well as public areas, lobby and restaurants. Surin Beach Resort is conveniently located only 20 minutes from Phuket International Airport. The resort has 256 deluxe studios and suites, overlooking a large swimming pool. All have private balconies and are decorated in contemporary Thai style. The suites are larger and have adjoining kitchenettes. With a strong family focus, the resort provides plenty for children to do. A supervised kids' club with playground and organised activities ensures peace of mind for parents while they take time out for themselves. Combined with a kids' pool and waterslides, the resort is one place where children will never get bored. There is also a mini-mart, a business centre, foreign exchange facilities, a gift shop, laundry and dry cleaning services and 24-hour security. Destination Properties CEO Gary Murray says that Surin Beach Resort has great potential to be renovated and repositioned as one of the nicest four-star hotels in Phuket. Surin Beach Resort directly fronts Surin Beach and is adjacent to the Twin Palms Resort and only five minutes away from Amanpuri and the Chedi Phuket. "We are in the company of some of Phuket's finest five-star properties. The renovated and re-branded Surin Beach Resort will provide guests with great four-star accommodation. Branding and management will be announced soon," Murray said. The resort will stay open during the renovations, which are expected to be completed in early summer 2007. Destination Properties currently owns the Hilton Hua Hin Resort and Spa and the Shambala Villas Samui. It is developing the new Doubletree by Hilton Golf Resort & Spa, to be managed by Hilton International. It is located on the Eastern side of the island and opening in early 2008. The company also owns the Ramada Resort Karon Beach, Phuket and the ALiLA Phuket Resort.
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