Hospitality-focused investment firm TriO Capital has made its entry into the Thai market with its acquisition of the Hilton Garden Inn Phuket Bang Tao as it seeks to capitalize on the growth and resurgence in visitor numbers to the popular island destination of Phuket.

The recently constructed property comprises 177 rooms, a restaurant, bar, fitness facilities and dual rooftop swimming pools, and is located on the fringe of the well-known Laguna development and within walking distance to the vibrant Boat Avenue area.

Under a franchise agreement with Hilton, Trio Capital plans to embark on a design and development plan to enhance the hotel’s overall positioning and attractiveness. These improvements are expected to commence after the 2024-2025 peak season, with the aim of unlocking further value and delivering strong returns for its investors.

This acquisition, the firm says, demonstrates its confidence in the long-term potential of the Thai hospitality market and its ability to identify and capitalize on opportunities that align with its investment objectives.

“We are excited to be entering the Phuket market at a time of growth and resurgence in visitor numbers,” adds Tim Alpe, the firm’s managing director. “There are a number of strategic initiatives available to further enhance the asset with the introduction of premium room categories, wellness facilities, an activated rooftop, and an overhauled food and beverage programme to cater to a more diverse clientele.”