First W Retreat in Southeast Asia to Open Summer 2010

W Hotels & Resorts is pleased to announce the appointment of Coetzer Deysel as general manager of W Retreat – Koh Samui.  The first W Retreat in Southeast Asia, W Retreat – Koh Samui is scheduled to open in summer 2010.  An all-villa beachfront resort set on the north shore of Thailand’s famed Samui island, W Retreat – Koh Samui brings an alluring new dimension of cutting-edge design, contemporary lifestyle and exhilarating experiences to Thailand.

“I’m honored to be entrusted with the management of this wonderful new property, and I’m especially excited about bringing the first W Retreat to Southeast Asia,” said Deysel. “Located on one of the most beautiful and fun islands imaginable, W Retreat – Koh Samui will immediately become one of the coolest, most exciting and fashionable destinations in the world, delivering a fully integrated contemporary lifestyle experience with the signature W twist.”

Deysel’s brings more than a decade of experience in the hospitality industry to his new position, most recently serving as hotel manager of W Retreat & Spa – Maldives.  Deysel’s prior positions include managerships at Madikwe River Lodge in South Africa; Shibula Lodge & Bush Spa in South Africa; Exeter Game Lodges in South Africa, and Chapungu Tented Camp in South Africa.  A passionate advocate of conservation and wildlife, Deysel is an active member of the Field Guides Association of Southern Africa (FGASA), which provides educational opportunities to promote the conservation and rehabilitation of the cultural and natural heritage of Southern Africa.

Capitalizing on Thailand’s long history of festivals and lunar ceremonies, W Koh Samui will be the destination where daytime is dedicated to individual moments and relaxation, while the night brings energy and celebration.  With its powdery golden sands and unspoiled waters, W’s location is a perfect sanctuary for local and global jetsetters alike, and the Retreat’s signature programming and service promise will bring a unique dimension to the everyday resort experience and a new way to escape.

W Retreat Koh Samui’s opening package, Retreat and Surrender, is now available for booking.  The Retreat and Surrender experience includes accommodation in one of W Retreat – Koh Samui’s 75 private villas equipped with modern lifestyle innovations; W’s Whatever/Whenever credit of THB2,500 per day for use in the Retreat’s restaurants, bars and spa; breakfast for two; roundtrip airport transfers and upgrade to the next room category.

The resort island of Koh Samui is experiencing growing pains as hotel supply hits 16,069 rooms according to the Samui Hotel Market Update, an extensive research project into the market undertaken by leading Thailand consulting firm C9 Hotelworks.

Citing the prevailing challenge for the destination was a distinct lack of direct international flights, as domestic flight traffic represented 91% of all air traffic to the island during 2009.

“The resonating lack of international airlift is stalling the island’s move into a mainstream tourism destination.” However, 541 internationally branded rooms opening in the next 15 months is poised to have a positive impact and could move the industry up the value chain.”

The report highlights performance metrics due to price discounting, which impacted rates through a 19% decrease in 2009 compared to 2008. A domino effect saw occupancy decline by 5% and RevPAR down 20%.

During the first six months of 2009, overall arrivals to Koh Samui slumped 23%, attributed mainly to political concerns. A strong second half upswing in occupancy fell short of clawing back the shortfall. Emerging growth markets were Eastern Europe, Malaysia, Indonesia, India and the Middle East.

“Discounting on the heels of a dynamic shift to a greater reliance on short-haul Asian based visitors is creating volatile trading market conditions. The short-term outlook for market absorption of new hotels could see supply outpace demand.

Despite challenges during the current infrastructure catch up period, an imposed transformation led by significant resorts such as the new W Retreat provide an upbeat longer term outlook.”

Bangkok Airways, a sub-lessee and a property manager of Samui Airport, has been granted permission from Department of Civil Aviation to increase the International Passenger Service Charge (International PSC) for Samui Airport, from Bt500 to Bt600 per ticket.

 This will impact passengers whose air tickets are issued from March 1.

 DBS Vickers Securities (Thailand) considered this increase as a positive news for Samui Airport Property Fund (SPF), the 30-year airport leasee formed in 2006 with Bangkok Airways as a principal unit holder.

 The increase in service charge will generate additional income of Bt20 per an international departing passenger whose ticket is issued from March 1 onwards to the fund. Note that international passengers accounted for 32 per cent of total passengers of 775,201 in 2009. 

 Currently, the service charge collected by Bangkok Airways is Bt300 per passenger for domestic flights and Bt500 per passenger for international flights.  SPF, however, currently gets Bt300 per all types of passengers from the airline which has to shoulder all operating expenses of the airport. 

 According to the leasehold agreement, SPF will earn 20 per cent, on the upside, if the service charge collected by the operator increases from the current rate.  This means that from March 1, SPF will receive Bt320 revenue per an international passenger.

 In 2009, the number of passengers to Samui grew 4.3 per cent on year.

Baan Taling Ngam Resort on Koh Samui, owned by the defunct Lehman Brothers (Thailand), will be offered for tender later this month.

It will be the bank’s first asset in Thailand to be sold as an open-market transaction since the giant Wall Street investment bank collapsed in late 2008.

Binswanger Brooker (Thailand), a property consultancy, has been reviewing Lehman’s local assets for the past three months as a consultant for potential investors. “[Lehman Brothers] assets that we’re looking at mainly are hotel and hospitality businesses,” said Nigel Cornick, CEO of Binswanger Brooker (Thailand).

“We have studied the opportunity for our clients to buy debt or stakes held by Lehman Brothers.”

Baan Taling Ngam Resort was one of four assets Lehman Brothers (Thailand) purchased from listed developer Natural Park Plc’s subsidiary Pacific Assets Plc in October 2005 in a transaction totalling 3.22 billion baht.

Lehman Brothers (Thailand) also owned two leasehold office buildings – One Pacific Place and Two Pacific Place on Sukhumvit Road – as well as Pantip Court Executive Residence on Sathon Road and Le Royal Meridien Phuket Yacht Club in Phuket.

Lehman’s investment in Thailand totalled about US$1 billion, representing about 0.33% of worldwide assets of US$300 billion, said Mr Cornick.

Assets Lehman Brothers jointly owned with partners included the Mercury Building and the Ital-Thai Building.

Lehman Brothers was also a creditor of three companies – Natural Park Plc, Grande Asset Plc and Central Group. The bank’s debt to Raimon Land Plc has been settled, he said.

“We are also taking a look at a few listed property firms to see whether there is any chance to buy stakes,” said Mr Cornick, who joined Binswanger last July.

“Most listed property firms are in a good shape now but only a handful of them need debt restructuring.”

Binswanger’s recent activity includes acting as a consultant to the buyer in the acquisition by investor Well Base Development Limited of 156.36 million shares of Golden Land Property Development Plc (GOLD) last month, which accounted for 24.82% of the company.

On Feb 3, Chan Bulakul, as a representative of Well Base, was appointed as a member of GOLD’s executive committee.

Mr Chan is major shareholder of the MAI-listed Brooker Group, which holds 60% in Binswanger Brooker (Thailand). The remaining 40% is held by Mr Cornick.

Binswanger Booker is involved in a deal worth 3 billion baht for Thai investors looking to acquire entities, stakes, debts and properties. The company expects to close the deal within six months.

The firm was established four years ago by the Brooker Group with a registered capital of 7 million baht. It advises clients from the United States and Japan that want to buy, sell or rent industrial estate.

The company has been advising a manufacturing company seeking to sell a factory and an automobile-related firm that may sell a factory in Thailand.

The company also advises Thai clients on real estate investments, asset acquisitions and re-developing properties.

(KOH SAMUI, THAILAND) — For the first time in Asia, W Hotels Worldwide today unveiled The Residences at W Retreat Koh Samui, which buyers can now acquire their own vacation homes (licensed under the W brand).

Ownership will include the same level of indulgence and modern living in an enviable location with world-class design, service and access to the hottest and latest in town, whether it be entertainment, fashion, cuisine, design or music as W Hotel guests.

W Retreat Koh Samui and The Residences at W Retreat Koh Samui also represent the first retreat and residential project for W Hotels in Southeast Asia.  This oceanfront landmark is set to inspire jet set guests and locals alike with spectacular design that sets the stage for W Hotels’ fully integrated contemporary lifestyle experience.  The property comprises 17 branded residences as well as the hotel comprising 75 villas – W Retreat Koh Samui.

Owned and developed by Amburaya Hotels & Resorts and Istithmar World, The Residences at W Retreat Koh Samui, Thailand, along with W Retreat Koh Samui, will bring a new dimension of cutting-edge design, contemporary lifestyle, modern comfort and a new level of indulgence to Thailand.   W Retreat Koh Samui is targeted to open in spring 2010.

“The Residences at W Retreat Koh Samui will appeal to discriminating homebuyers who are style conscious global jet setters and avid trend seekers on the trail of what’s next, those seeking to be wowed by the finer things in life – particularly those inspired by the W brand’s unique mix of contemporary cool design, modern comfort, and innovative style,” said Sunny Bajaj, Managing Director of Amburaya Hotels & Resorts.  “This includes everyone from busy executives, those looking for a weekend or holiday home to early retirees with time to appreciate Thailand and Koh Samui’s culture, cuisine, sun, sea and sand.

“Koh Samui is also the first destination in Thailand to offer Residences under the W brand, which have become the ultimate expression that our guests want to live with us 24/7, checking-in and never needing to check-out,” added Bajaj.

Among the many distinguishing characteristics of The Residences at W Retreat Koh Samui is its prime location on a stunning 900 meters shoreline, surrounded by verdant foliage.  The Residences at W Retreat Koh Samui adjoin the W Retreat Koh Samui at Maenam Beach on the island’s sublimely beautiful north shore — arguably the best location on Koh Samui, given its secluded beach and interesting topography — providing all residents and guests with excellent views.

The Residences at W Retreat Koh Samui offer owners a combination of stylish beachfront villas, ranging from three to five bedrooms and from 1,000 to 2,752 square meters.  Each residence is a study in tropical Zen style with exotic touches, and each offers full access to the signature W comforts, services and amenities available to hotel guests of the W Retreat Koh Samui.

Koh Samui is renowned as one of the best places in Asia to live and retire to.  The exchange rate allows anyone with a decent retirement fund to enjoy high-end luxuries.  Temperatures generally range from 26 to 33 degrees Celsius year round.  Thailand is home to beaches with crystal water, which in Koh Samui and at the W Retreat Koh Samui will be within walking distance of the property.  A golf course can also be found in the vicinity of the Residences.

W Hotels currently operates 35 hotels and retreats around the world.

A golf tournament which will be open to the public, is to be held simultaneously with the annual Sawadee.com Regatta 2010 in June of this year – adding yet another reason to attend the popular event on the island of Koh Samui in southern Thailand.

The venue for the ‘Sawadee.com Regatta Open’ is the Santiburi Samui Country Club – a championship golf course landscaped on a mountain in Koh Samui. Each of the 18 holes on this par 72 course has its own unique character and challenges. From steep uphill and downhill slopes to winding fairways that cut into the coconut forest, cliffs and mountain creeks. The course is located just 5 minutes drive away from Santiburi Resort, a villa on beautiful Mae Nam Beach.

The Stableford system will determine the winner, with the handicap determined by the 36 system. The tournament will begin at 12.30pm on Thursday, 3 June 2010 with a registration fee of THB 3,500. Trophies and a selection of great prizes will be awarded at the end of the day.

Headquarters for the event will again be the ‘Centara Grand Beach Resort’, which has been the home of the regatta since its conception.