JLL’s (NYSE: JLL) Hotels & Hospitality Group today announced the sale of the Hyatt Regency Bangkok Sukhumvit, Thailand’s largest single asset hotel transaction on record. JLL represented Thailand-listed firm Grande Asset Hotels and Property Public Company Limited on the THB5 billion ($155 million) transaction of the Hyatt Regency Bangkok Sukhumvit. 

“Thailand continues to solidify its position as one of the most attractive global gateway destinations in the hospitality industry, drawing interest from diverse domestic and offshore investors. We’re proud to deliver this landmark transaction for our client and have deep confidence in Thailand’s strengthening position as one of the most consistent capital draws for hospitality investors. Viewed more holistically, the sale of the Hyatt Regency Bangkok Sukhumvit significantly adds to waves of capital to Thai hospitality sector. Over the past several years, we have brought capital from local and cross-border sources into the industry, and we expect to build momentum in the coming years,” Mr. Nihat Ercan, CEO, Asia Pacific, JLL Hotels & Hospitality Group. 

The transaction represents a rare landmark in the tightly held Bangkok grade-A hospitality market. According to JLL, assets in prime CBD locations such as the Hyatt Regency rarely trade and are highly prized, commanding strong interest from long-term and strategic investors.  

“This landmark transaction reinforces JLL’s leading position in advising on marquee hotel sales in Thailand. In 2024, JLL has advised on a diverse range of major hotel transactions in Thailand including the Lamai Samui Resort & Spa, Hilton Garden Inn Phuket Bangtao, a portfolio of five serviced apartments of over 1,800 keys and now the Hyatt Regency,” said Mr. Chakkrit Chakrabandhu Na Ayudhya, Head of Indochina Hotels Investment Sales and Executive Vice President, Asia, JLL's Hotels & Hospitality Group.  “The firm remains confident of further activity in this key geography with more sales set to close in Bangkok, Phuket and Koh Samui before the end of the year”.  

“High calibre hotel assets like the Hyatt Regency Bangkok Sukhumvit are tightly held and extremely desirable, underlining the significance of this transaction,” said Mr. Pawin Lertpanyaroj, Vice President Investment Sales, Asia, JLL's Hotels & Hospitality Group. “The sale of Hyatt Regency Bangkok Sukhumvit providing a major boost to an already hot market. This year, we expect a substantial uptick in volume of THB20 billion in sales in Thailand, over 300% higher than 2023”.