Project Lantern

Independent property · Thailand

A boutique resort on Phuket's west coast, under 30 keys, with one restaurant and a pool, set on hillside land that its two Thai companies hold. It is licensed. It has no bank debt. Occupancy was 71% in FY2024 and 76% in FY2025, and 65% in 2026 to date. The business made a profit in FY2024 and FY2025. Travel agent commission took 25.8% of room revenue from January to April 2025. The shareholders want to sell both companies outright by share transfer. The property, the title, the accounts and the trading record are available after a confidentiality agreement. YMC Capital, an affiliate of the seller, runs the room.

FY2025A revenue

THB 23.4M

THB 20.8M in FY2024A

FY2025A EBITDA

THB 4.1M

17.7% margin

Occupancy

76%

FY2025; 65% this year

ADR

2,500 to 3,000

THB, FY2025

Bank debt

Nil

2017 to 2025

Scale

Under 30 keys, one restaurant, pool

Location

Phuket, west coast, hillside with sea view

Land

Four parcels held by the two companies under Nor Sor 3 Kor certificates. Title detail in the room.

Licence

Hotel licence current to September 2027

Ownership

Two Thai companies

Transaction

Sale of both companies by share transfer

Target buyer

Owner-operators, Thai and regional hotel groups, family offices, renovation-led sponsors