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Follow on Google News | Absolute Group, a hotel management and development company, is investing in PhuketAbsolute Group, a hotel management and development company, is investing 570 million baht to develop two projects on its own in Phuket. The company is also co-investing with the 'yoo' brand (Philippe Starck et al) to develop a lake-side apartment.
By: Absolute Resort Management Co.Ltd The properties are the 300-million- The company is also co-investing with the 'yoo' brand (Philippe Starck, Jade Jagger & Marcel Wanders) http://www.yoo.com/ Residents at yooPhuket will enjoy a range of shared facilities, including a 55m long infinity pool, high-end restaurant and poolside cafe, as well as a fully equipped gym and business centre. Tennis and squash courts are also planned. Absolute Resort Management, the independently operating Absolute hospitality arm within the group, will manage the propert to the high standards associated with a yoo property. Bryan Lunt, Absolute's CEO, said expanding during the crisis was a big challenge, however, he is still confident in Phuket's competitiveness, as the island is well-known worldwide even though the global downturn and local political instability have affected Thai tourism. "Phuket is our main focus as we believe the market has a lot of growth potential in the medium to long term. We're also interested in Samui and Pattaya, which still have growth," he said. Absolute owns the luxury Absolute Signature Pool Villas in Jomtien and a Samui property is under construction. Apart from its own investment, Absolute has long-term leased and will manage the 100-suite Absolute Sansabai Resort and Spa****, while its current portfolio includes the Absolute Chandara Resort and Spa Phuket***** , the 54-room Absolute Sea Pearl Resort**** and Spa in Patong and the 30-room Absolute Patong Ville Resort and Spa***. The company has budgeted 200 million baht this year for operations, human resources and marketing for properties planned to open this year. It is also expanding its vacation ownership business by having recently opened two new sales offices in Bangkok and will open another one in Teheran. The Middle East is expected to be a growing market and more offices are planned. The company said Thai buyers of its Absolute Vacation Club were growing in number. It sold more than 100 memberships in the first month of operations. Ab # # # The Absolute World group in Thailand comprises Absolute Development Co.Ltd, North-Shore Real Estate Thailand, Absolute Vacation Club, Absolute Thai magazine (a bi-monthly high end publication) Absolute Resort Management Co.Ltd operates resorts & hotels under the name Absolute Resorts & Hotels. Providing hospitality solutions to owners and developers such as pre-opening services, design input, property management and sales & marketing services. Sales & Marketing services are through its Phuket-based sales and e-Marketing office and it also operates a Bangkok sales office. The company maintains a Moscow sales & marketing office covering Russia and the C.I.S. states, with a similar operation in Australia and New Zealand. www.arm.co.th www.absoluteresorts.com End
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