Luxury fractional ownership guru sets his sights on Thailand
In a move that is expected to change the high-end vacation
experience in Asia, famed US hotelier Tom LaTour is bringing his five-star
boutique concept to Thailand.
Thailand is no stranger to luxury, being home to a wealth of resorts and
five-star hotels that have long attracted global jetsetters. But much like the
rest of Asia, fractional ownership has been slow to take off in the country.
LaTour is set to change that by introducing his well-known La Tour Signature
Group brand, through partnerships with several boutique luxury projects.
Negotiations are still under discussion, however company executives have
confirmed LaTour Signature Group is looking at several small, five-star resort
properties.
Tom LaTour, former CEO and Chairman of the Kimpton Group, is a top player in
North America’s hospitality industry and is even referred to as ‘The Hotel
Guru’. Since partnering with Bill Kimpton in 1983, LaTour helped make Kimpton an
industry leader in boutique hotels and chef-driven restaurant concepts, building
one relationship at a time with a tireless desire to entertain people. He
recently continued his passion for the hospitality business by launching his own
company, LaTour Signature Group, in 2006. Last year he earned a Platinum Circle
lifetime achievement award from Hospitality Design Magazine – recognizing
LaTour’s lustrous 20-year career with the hotel giant.
Much like he did with boutique properties around the U.S. and Canada, LaTour
wants to revolutionize the burgeoning vacation home ownership industry in
Thailand by serving up an exceptional five-star vacation resort “lifestyle”
experience to the developers and owners of new and existing properties in
popular and emerging golf, oceanfront and urban locations.
The group is already making a name for itself in North America by creating
personalized vacation experiences for owners and attending to every detail of
property development and operations.
In fact, there are ‘Five Key Pillars’ that must be present in each LaTour Resort
for a property to qualify for the brand. These are: culinary, which means
operations are personally overseen by LaTour, who has created more than 20
popular and highly-rated restaurants in the United States and Canada; wine,
which has long been a LaTour hallmark; wellness/health, with programs that
connect with guests on the most personal level; entertaining, which demands an
array of skills that are LaTour strong points; and concierge, as the group pays
particular attention to this area of service, which can favourably or
unfavourably colour a guest’s perception of everything.
Although fractional ownership is a somewhat new concept in Asia, available at a
few luxury properties in Thailand, it has been a popular option for luxury
investors in the US and Europe for quite some time thanks to such well-known
brands as The Ritz-Carlton Club, Interval International and Starwood Vacation
Ownership and IFA Hotels and Resorts.
Unlike the well-known time share concept, fractional ownership is a legal entity
through which any number of investors become co-owners (shareholders) of a
property. The property is held by a private company created by the developer,
which sells shares to investors, who receive share certificates. This allows
shareholders a predefined period of holiday weeks per annum depending on the
fractional share being offered by the development. These weeks are allocated to
the owners of the shares on an equitable basis and rotate on annually to ensure
that more popular dates are accessible to all the owners.
Unlike timeshares or vacation clubs (where people buy memberships and pay dues),
shared ownership comes with an underlying structure making it a true asset that
will appreciate at current market rates.
La Tour will be joining forces with Leisure Solutions, a boutique real estate
consultancy based in Bangkok that specializes in luxury properties and the
fractional ownership industry. With a network of local and international
partners and clients, Leisure Solutions works with developers, investors, hotel
operators and agents looking to develop operations and profit from the real
estate and hospitality sectors, including fractional ownership.
“We’re delighted to team up with such a prestigious and dedicated global
hospitality leader. Tom LaTour is renowned for his commitment to excellence and
providing investors with properties that go beyond the realm of luxury,” says
Darron Guy, General Manager of Leisure Solutions, adding that developers
interested in learning more about the LaTour Signature Group should contact
their firm.
Leisure Solutions has already announced the launch of fractional ownership
projects for Hua Hin’s ‘The Falls’ and Infinity Samui in December, further proof
the industry is growing in popularity in Thailand.
With LaTour’s dedication to finery and Leisure Solutions’ expertise in the Thai
market, the pair is expected to lead the way as the luxury fractional vacation
ownership industry grows in Thailand.
“We intend to become the ultimate brand for smaller fractional properties,” says
LaTour, who has the proven experience and burning passion to lead the explosive
growth in this niche market. (Source Leisure Solutions)
New owners move into exclusive
address at Ocean’s Edge
Marilyn and Eric Houston this
week celebrated moving in to their luxurious new apartment at Ocean’s Edge where
they were welcomed by the directors Andrew Neely (left) and Wim Scheggetman
(right) who joined them in a toast to their new home. Eric had told his wife
that he had purchased an apartment in Thailand, but she was amazed to see the
luxurious home that he and the professional team at the Ocean’s Edge had
created, which far exceeded her wildest dreams.
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