Phuket Hotel News: Central Group’s luxury arm charts new hospitality frontier
CG Capital Advisory, the private equity division of retail giant Central Group, is making an ambitious move into Thailand’s luxury hotel market with plans to invest more than 5 billion baht across five properties in Phuket and Koh Samui. The announcement marks a significant milestone in the group’s expansion strategy as it seeks to strengthen its presence in high-end tourism destinations. According to this Phuket Hotel News report, the developments will include a series of resorts and a branded water park hotel in Phuket, alongside the launch of the InterContinental Residences Bangkok Asoke, a 5.5-billion-baht luxury condominium project.
CG Capital commits over 5 billion baht to five new hotels across Phuket and Samui, signaling strong confidence in Thailand’s high-end hospitality market.
Image Credit: The Standard Residences Phuket (CG Capital Advisory)
Massive equity commitment fuels expansion
Phoom Chirathivat, managing partner and co-head of CG Capital, confirmed that four of the new hotels will be located in Phuket and one in Samui. He revealed that from an initial 10-billion-baht investment pool, the firm has already committed 8.5 billion baht in equity across seven projects since its establishment last year. The remaining 1.5 billion baht will be deployed toward one or two additional projects within the next 18 months, with a focus on branded residences and lifestyle-driven hospitality developments.
One of the most notable upcoming ventures is a branded residence in Bangkok developed on a leasehold plot, adding to CG Capital’s growing portfolio of mixed-use projects that blend luxury living and resort-style amenities. The group’s previous Phuket investment, The Standard Residences Phuket Bang Tao, launched last year and has already achieved 85% in sales, with 60% of buyers being Thai nationals—an encouraging sign of strong domestic demand for premium coastal properties.
Bangkok leads the way in branded residence growth
The group’s flagship Bangkok project, InterContinental Residences Bangkok Asoke, will occupy a prime 1.5-rai site on Sukhumvit Soi 16. It will be the first standalone InterContinental-branded residence globally, comprising a 32-storey tower with 88 units. Residences will range from two-bedroom suites of 139 square metres to a duplex penthouse spanning 547 sq m, priced between 40.8 million and 245 million baht, averaging 350,000 baht per square metre.
The Standard Residences Phuket Bang Tao
Image Credit: CG Capital Advisory
Thailand emerges as Asia’s branded residence leader
Property consultancy CBRE Thailand reported that as of late 2024, Thailand ranked first in the Asia-Pacific region and fourth globally—after the United States, the United Arab Emirates, and Mexico—in the number of branded residence developments. Bangkok alone hosts 11 such projects, nine of which are hotel-branded. These developments have seen exceptional sales performance, with 93% of available units already sold.
According to CBRE’s head of residential sales projects, Artitaya Kasemlawan, luxury branded residences in downtown Bangkok yield an average rental return of 4.8% annually, with peak yields reaching 7.9%. Sukhumvit remains the most popular district for expatriates, capturing 65% of leasing demand.
Luxury real estate continues upward momentum
CBRE’s data shows that property values in Bangkok’s prime districts have surged dramatically over the past decade. Prices in Central Lumpini and Sukhumvit rose from an average of 210,000 and 175,000 baht per sq m in 2014 to 368,571 and 366,000 baht per sq m respectively by mid-2025. This trend reflects continued investor confidence and strong appetite for branded, service-oriented living spaces.
As CG Capital sets its sights on Thailand’s key resort destinations, the synergy between Phuket’s booming hospitality market and Bangkok’s luxury property growth positions the firm at the forefront of the country’s evolving investment landscape. With tourism rebounding and premium residential demand soaring, CG Capital’s bold strategy could redefine the standards for upscale Thai hospitality and residential living for years to come.
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