Luxury Fractional Ownership Guru Sets His Sights On Thailand
November 29, 2008 by Fractional Ownership | Free Independent Fractional Property Magazine ·
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. This 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 (LaTour himself produces a highly-regarded Chardonnay and Syrah on a 25-acre vineyard in Napa Valley); 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 becomes 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 an annual basis 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 announced it will be launching fractional ownership projects for Hua Hin’s ‘The Falls’ and Infinity Samui in mid-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.
About Leisure Solutions
Leisure Solutions, a boutique real estate consultancy based in Bangkok that specializes in luxury properties and the fractional ownership industry. For more information, please contact:
Darron Guy, General Manager
Leisure Solutions
Address: Elite Serviced Offices 2 Ploenchit Center, G Floor,
Sukhumvit Rd, Klongtoey, Bangkok 10110 Thailand
Tel: +66 81655 1940
Email: info@leisure-solutions.net
Web: http://www.leisure-solutions.net
