A portfolio of seven internationally branded hotels in Bangkok, Phuket, Hua Hin and Koh Samui is up for sale at the indicated price of US$230,000 (7.3 million baht) per key.
The sale, representing one of the largest hotel portfolio opportunities in Asia, will be brokered by Colliers International, which will receive offers for the portfolio of assets in writing by way of private treaty.
The portfolio will provide the investor with an immediate market-leading presence, Colliers said.
The portfolio comprises one hotel in Bangkok, four in Phuket and one each in Hua Hin and Koh Samui. They are Four Points by Sheraton Bangkok; Swissotel Resort Phuket Kamala Beach; Swissotel Resort Phuket Patong Beach; Novotel Phuket Karon Beach Resort & Spa; Novotel Phuket Surin Beach Resort; Novotel Hua Hin Cha Am Beach Resort & Spa; and the upcoming Ibis Styles Koh Samui Chaweng Beach, which will open later this year.
The seven hotels are managed by large global players: six by AccorHotels and one by Marriott International/Starwood. Collectively they have 1,688 rooms.
The diversified assets cover the upscale and mid-scale tourist segments.
"Tourism growth in Thailand will help to drive occupancies and higher room rates across the portfolio," said Jerome Wright, director for capital markets and investment services at Colliers International.
Colliers expects strong interest from global, regional and domestic investors attracted by the potential to use the portfolio as a platform for growth in the wider region and to realise capital gains on non-core assets, Mr Wright said.
The seven hotels operate under global brands -- Swissotel, Novotel, Four Points by Sheraton and Ibis -- that have loyalty programmes with more than 132 million members.
The hotels enjoy an average occupancy rate of 80% -- in line with or outperforming competitors in the respective areas.
Direct investment in Thailand's hotel property sector reached an estimated 22 billion baht in 2017, up from 13 billion in 2016.
Colliers International expects the potential for capital gains to continue to drive investors' interest and motivate transactions in hotels in Thailand this year.
"We expect the seven hotels to offer healthy recurring income streams with further potential upside, owing to the tourism boom in Thailand," Mr Wright said. "Tourism will continue to be a growth catalyst for the Thai economy, with the Thai government targeting 37 million visitors this year."
This forecast trumps the record 35 million international visitors in 2017. Tourist numbers to Thailand have risen rapidly from 10 million visitors a year in 2000 to 35 million in 2017, mainly driven by visitors from China and Malaysia. This will likely climb to 45 million by 2020.
Bangkok in particular has been rated as the most visited destination in the world, according to the 2016 Mastercard Global Cities Index.
To accommodate the spike in tourist arrivals, Airports of Thailand has said it plans to pour billions of dollars into upgrading and expanding the six main airports in Thailand over 10 years.
These efforts will help to reinforce Thailand's position as one of the world's top travel destinations. By 2030, Thailand's six main airports are predicted to have the capacity to serve 150 million passengers a year, up from 71.5 million in 2016.