
Major Development is diversifying from residential properties into the hotel business.
The company is investing $48 million in two hotels in Hua Hin and Pattaya, Thailand, which are set to open in 2016.Managing director Suriya Poolvoralak said he expects an average OR of 60 % per year at this property to hit its projected break-even point within eight yearsAt the time being, the company is in a testing this venture at its first property, Marrakesh Hua Hin Resort and Spa. This 76-room hotel is slated to open its doors in the begining of 2012. The five-star hotel has reported an occupancy rate of 30-40 per cent since its soft opening in the middle of 2011.Managing director Suriya Poolvoralak said he expects an average OR of 60 % per year at this property to hit its projected break-even point within eight years

