TITLE is entering the condo hotel market by partnering with the global hotel giant Best Western to manage the rooms at 'The Title Rawai Beach Phase 5'. Sales are expected to launch in November, with a project value of approximately 800-900 million baht. This initiative aims to provide more options for customers looking to invest and generate income beyond just residential use. 'Sasipong Pinkaeo', Co-CEO, is confident that this will create recurring revenue for the company and support future growth.

          Mr. Sasipong Pinkaeo, Co-CEO of Rhombho Property Public Company Limited (TITLE), announced that on October 5, 2018, TITLE signed a contract with Best Western Inc. (BWI) to manage the rooms at 'The Title Rawai Beach Phase 5', which is a condominium in the condo hotel format.

          'The Title Rawai Beach Phase 5' is a continuation project covering approximately 5 rai, consisting of 4 buildings, each 5 stories high, with a total of 226 units. The project is valued at around 800-900 million baht and is expected to launch sales in November. The condo hotel format offers another investment option for customers seeking to generate income outside of residential use during certain periods, and the demand from this customer segment is on the rise.

          BWI is a group with expertise in managing hotels and condo hotels, and under the Best Western chain, it is one of the top 10 largest hotel management companies in the world, with over 4,000 hotels in 88 countries.

          The appointment of BWI is expected to positively impact TITLE in the future, as it not only instills confidence in customers purchasing units in our project but also generates recurring income in the future.

          The Co-CEO of TITLE further stated that regarding the progress of ongoing sales at both Rawai Beach and Nai Yang Beach, they are nearing a sell-out, with only 2-3% of units remaining for sale. Transfers have been ongoing, with a significant increase expected starting from Q4 2018, as the transfer of the Nai Yang project, valued at approximately 1.4 billion baht, will commence. Construction is expected to be completed on schedule, ensuring that the revenue targets for 2018 and 2019, set at 600 million and 900 million baht respectively, will be met.

          Regarding concerns about the Bank of Thailand (BoT) potentially implementing stricter housing loan measures, it is necessary to await feedback from relevant agencies before making any assessments. The BoT will clarify this with stakeholders on October 11. However, it is anticipated that this situation will not affect TITLE, as the primary customer base consists of foreign clients who typically do not seek loans from financial institutions.

Thank you for the information from www.rhombho.co.th