A five-star luxury resort and spa is to be developed in Phuket, Thailand - managed by Raffles International Limited.

When it opens in 2006, the 79-room hotel will be part of a development featuring a spa, restaurants, bars and recreational facilities overlooking the western tip of the Andaman Peninsula, south of Kata Noi. Named Raffles Resort Phuket, the development will also include 30 luxury residential villas, which will share the resort’s spa and other facilities.

Raffles Corporation (Thailand) Co and Andaman Peninsula Company Ltd have entered into a joint venture and management agreement to develop the resort – a transaction overseen by Jones Lang LaSalle Hotels (JLLH). Craig Collins, Senior Vice President of JLLH says:

“Phuket is a destination that has experienced exceptional growth over the past five years. Approximately half of the international visitors to Phuket are European and because of the attractions that Phuket offers, we expect it to remain one of Asia’s premier resort locations.”

Over the past six months, the level of interest in the Tourism industry by international investors has grown significantly, with JJLH negotiating three major transactions over the past four months involving tourism properties.

Raffles resort Phuket fits in with Raffles Holdings’ stated objective to pursue an asset light strategy to grow its global portfolio of hotels through acquisitions of management contracts with a minority equity. Raffles International Ltd manages hotels and resorts under two brands: Raffles Hotels & resorts and Swissotel Hotels and Resorts. With the addition of Raffles Resort Phuket, the raffles Hotels & Resorts portfolio expands to 11 hotels worldwide. The group now has a global portfolio of 37 hotels in 33 destinations.

Details: Raffles International: +65 6430 1366 JJLH: +65 6536 0606