Hotel in Chiang Mai up for sale

The property is available for sale via expression of interest. 

Stay with Nimman Chiang Mai, a lifestyle hotel, has been put up for sale by Hotel Culture (Chiangmai) Co., Ltd.

According to Colliers, the agent overseeing the divestiture, the hotel features a gross floor area of 8,074.36 sqm, featuring 132 rooms and 740.45 sqm of additional revenue-generating space. 

Situated at the heart of Chiang Mai, the asset includes facilities such as a fitness center, meeting room, spa and wellness center, rooftop bar, café, and restaurant.

The property, available for vacant possession, also presents potential for revenue enhancement through underutilized spaces.

Stay with Nimman offers a sought-after freehold asset with a Board of Investment Permit, enabling 100% foreign land ownership.

The influx of international tourists arriving in Chiang Mai has surged nearly fourfold compared to 2020, according to the Tourism Authority of Thailand. In 2023, Chiang Mai International Airport welcomed a total of 7.8 million visitors, an increase from 4.35 million in 2022. 

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“Stay with Nimman Chiang Mai is perfect for an owner operator or investor who have aspirations to own a dynamic hotel in this evolving market,” said Junrong Teo, director of Colliers Hotels and Leisure. “The property presents numerous value-add opportunities; the freehold and BOI status will be of great appeal.”

The property is available for sale via expression of interest.