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The "Major Development" Company is Expanding into the Hospitality Industry

1 min reading time

Published on 12/12/11 - Updated on 17/03/22

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

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