Seven hotels under the Premier Inn portfolio in Thailand and India are being offered for sale through an international tender process with JLL's Hotels & Hospitality Group.
Two of the hotels are in Bangkok and Pattaya in Thailand, and the other five are in India's New Delhi, Chennai, Bengaluru, Pune and Goa.
"With vacant possession and prime central locations, the portfolio of seven hotels is rarely offered to the market. We expect interest from global, regional and domestic investors attracted by a platform opportunity allowing for immediate rebranding," said Mike Batchelor, managing director of investments sales at JLL's Hotels & Hospitality Group for Asia.
With a collective 388 rooms, the two hotels in Thailand are being offered with a rare privilege of 100% foreign ownership. In Thailand, foreigners are typically restricted to owning a maximum 49% of freehold real estate.
Due to be completed in the first half of 2017, the proposed Bangkok Hotel is located in Sukhumvit Soi 11. Rebranded in 2015, the Pattaya Hotel is located minutes from Pattaya's popular Second Road, in proximity to the resort town's beaches, retail malls and the famous walking street.
The Thai tourism industry is destined to achieve another record year in 2016 with 33.8 million expected international visitor arrivals, up from nearly 30 million last year.
Meanwhile, India is constantly ranked as one of the fastest growing economies in the world with a 2016 forecast GDP growth of 7.6%.
The Premier Inn India portfolio has 583 rooms in prime locations in five of India's best performing cities and will be among the largest hotel portfolios offered in recent years.
"We are witnessing the beginning of an upcycle in the sector and the renewed interest in Indian hospitality assets by global institutional investors, the Premier Inn's opportunity of unencumbered income-generating assets in top Indian cities is sure to be keenly contested," said Paul Chakkrit, senior vice-president of JLL's Hotels & Hospitality Group for Asia.