Absolute World Group Removes Phuket Resort from Portfolio

Absolute World Group has not extended its lease on the Absolute Sea Pearl Beach Resort in Phuket, Thailand.

As a result of this change, the group's corporate offices and administrative centre will move to a new dedicated office complex in Kathu, while operational and sales personnel will be relocated to Absolute World Group's Phuket resorts accordingly.

“We have managed and operated Absolute Sea Pearl Beach Resort for 11 years and its prime location in Patong has made it a popular resort with our members. However, this is the only resort within our portfolio in Phuket that we do not own and manage ourselves and without a major overhaul, the resort is no longer up to the standard we wish to offer our guests. We have decided not to continue our lease,” said Bryan Lunt, Chairman and CEO of the Absolute World Group. “As of 1 May 2015, this resort will no longer be branded or operated by the Absolute World Group and it will no longer be offered to our Absolute World Group members around the world.”

This marks a milestone in the next Absolute World Group chapter and is part of a larger strategic move to consolidate the group's position. Absolute Sea Pearl Beach Resort is the only Phuket retained resort by the Absolute World Group while all other resorts on Phuket, as well as the newly built and soon-to-open The Beach Samui boutique resort on Samui Island, are owned by the Group.

“We are looking to the future and our strategy of developing and operating our own resorts allows us complete control over the standards and service levels our owners, members and guests are used to with us. Our commitment to the islands has seen us invest over THB2.1 billion into the development of four unique resorts for our guests across Phuket and Koh Samui in the last five years, welcoming over 24,000 vacationners to our resorts each year,” added Lunt.

Absolute World Group's Phuket resort portfolio includes Absolute Bangla Suites (54 keys), Absolute Nakalay Boutique Resort (33 keys) and Absolute Twin Sands Resort & Spa Phase I (45 keys). Absolute Twin Sands Resort & Spa Phase II (52 keys) is scheduled to come online at the end of 2015 and Phase III (78 keys) is scheduled to open in 2016.