Malaysian Hotel Group YTL Close Purchase Of Evason Phuket Legacy Resort

Malaysia’s YTL Group has reportedly closed the purchase of the former Evason Phuket resort. The seller is the Singapore entity AF Global Limited.

 In a notice to the Singapore Stock Exchange, the aggregate consideration subject to final adjustments is approximately THB1.6 billion (USD44.2 million).

 Two plots of land and fixed assets form the sale which is 24,800 square meters of land including 270 meters of beach frontage that is the former Evason and another piece of land on nearby Bon island with 6,400 square meters.

In what is a Phuket legacy property, and one of the island’s first international properties started as the Phuket Island Resort. It later became the Evason Resort and Six Senses Spa, and was one of the foundation resorts of what would later evolve into the iconic Six Senses global chain.

 The resort closed and sold in 2012 to L.C. Development from Singapore for THB1.4 billion. Under L.C. Development the property was earmarked to become an InterContinental branded resort, which never materialized, as it was again resold over a period time and finally came under AF Global which has planned to redevelop it as a Fairmont.

 With the new owner YTL being a significant hospitality group, the property is again in the redevelopment phase. It’s understood YTL is speaking to a number of international operators at this point.