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Published on September 24, 2007

The property, Lake Okareka Lodge in Rotorua, is to be managed by chief executive officer Deepak Ohri, who is now running the lebua Hotel at State Tower in Bangkok.

The management will be overseen by company president Rattawadee Bualert, a daughter of Thai real-estate developer Rasri Bualert. Rasri bought the villa some time ago but declined to mention the price.

Ohri said the villa was scheduled to open in November. It is only one villa consisting of five suites, a gym, a personal chef, a private beach with boats, a spa, offices and a helicopter service.

Renovated this year, the 657-square-metre lodge will be accepting just one booking per night, whether it be for two or 10 persons.

"It will be our first property overseas. We are positioning it as one of world's best residential resorts and targeting 500 people from each country," he said.

Rotorua is in the centre of the North Island of New Zealand. The city is a favourite holiday destination and is surrounded by 11 lakes, numerous rivers and crystal springs. Okareka is one of four small lakes lying between Lake Rotorua and Lake Tarawera.

The rate is specific for only two guests and excludes meals. Each single extra customer is required to pay ¤500 per night. Ohri expected the average occupancy rate could be 60 per cent in the first year of operation.

Lebua Hotels and Resorts, formally named Challenge Hospitality, came into existence in Bangkok in 2003. Under the name "The Dome at State Tower", it has become known for its Sirocco, Mezzaluna, Distil Bar and Breeze restaurants and its flagship hotel property is lebua.

Ohri said the hotel was running an occupancy rate of 82.8 per cent, the highest in Bangkok. The rate has jumped from 60 per cent a few years ago when it was managed by a Singapore hotel chain.

The room rate also increased from Bt4,200 to Bt5,900 per night.

"Comparing booking rates though the Internet, our rate of US$323 [Bt11,150] is lower than The Oriental, which is selling at $370, while some rivals like Sukhothai Hotel are $230, and The Peninsular is $242. We are running at a higher occupancy rate than them all," said Ohri.

He added the hotel aimed to be Bangkok's top hotel both in rate and room occupancy in 2008. The occupancy rate is set for 80 per cent while the room rate will increase by 46 per cent.

The hotel will be focusing on the high-end so-called BRIC market, for Brazil, Russia, India and China.

Suchat Sritama

 The Nation