Jones Lang LaSalle (Thailand) Limited’s (“JLL”) Hotels & Hospitality Group has been retained by Rimkok Limited (the “Owner”) on a sole and exclusive basis to offer for sale Rimkok Resort Hotel Chiang Rai, Thailand (“Rimkok” or the “Resort”). Spanning over 81 rai (approximately 130,000 sqm) of land, the 256-key Resort occupies an exceptional frontage along the Kok River that runs through the heart of Chiang Rai.
Rimkok is being offered at an attractive valuation which represents an excellent opportunity for the incoming owner to generate a substantial return on investment. Rimkok’s value can be enhanced through the near-term renovation and repositioning of the Resort as well as various longer-term value enhancement opportunities from developing the beautiful 41-rai (approximately 65,600 sqm) of additional land that is part of the offering.
As the second largest city in the north, Chiang Rai serves as an important gateway to the Mekong Region of Myanmar, Laos and Thailand. Although still at a relatively low base, Chiang Rai’s tourism industry has grown significantly in recent years, recording a five-year Compounded Annual Growth Rate (2009-2014) of 14%. Additionally, Chiang Rai welcomes visitors via its two main border checkpoints which connect Kunming to Bangkok: R3A (Laos border) and R3B (Myanmar border).