Habitat Group is planning to break into the Pattaya luxury property market with the launch of Wyndham Atlas Wongamat Pattaya worth Bt850 million at price ranks between Bt3.8 million and Bt9 million per unit.
The Habitat Group’s latest hotel development will carry the Wyndham brand under a franchise agreement with Wyndham Hotel Group, which will license the use of its trademark. Wyndham Hotel Group is a leading hotel brand franchisor and hotel management services provider with a global presence of more than 8,100 hotels in 78 countries.
Habitat Group, the developer of the hotel, has also partnered with Kosmopolitan Hospitality for the management of the hotel.
Habitat Group is fully optimistic about the demand for upscale properties in Pattaya and is confident that Thailand's Eastern Economic Corridor (EEC) policy and the state’s investment in public transportation systems will attract considerable local and foreign investment, according to a Monday press release.
Habitat Group aims to complete the project by mid-2020 with units in the hotel available for investors, priced between Bt3.8 million to Bt9 million.
Habitat Group is guaranteeing investors a rental return of up to 6 per cent, Chanin Vanijwongse, CEO, Habitat Group Co Ltd said in the release.