SET-listed developer M.K. Real Estate Development plans to spend 700 million baht to expand a new wellness centre in Suan Sampran in Nakhon Pathom, expecting to break even in seven years.
Managing director Dusadee Tancharoen said the new wellness centre, RXV, will be located on a 12-rai site in Suan Sampran, an eco-cultural tourist destination in Nakhon Pathom, which it plans to lease for 40 years.
"We chose Suan Sampran for our second wellness centre as we partnered with it for our first one in Bang Krachao, where it helped us develop a farm," she said.
Suan Sampran is a large green venue with organic farms that matches with M.K.'s expansion plan for a wellness business.
The 700 million baht is allocated for phase one, which will include renovation of Rose Garden hotel, which has 150 rooms, and a new wellness centre with a total area of 4,000 square metres, said Ms Dusadee.
Phase one with 83 rooms is slated to open in November this year, with room rates between 4,000 and 15,000 baht per night, she said.
As Covid-19 becomes endemic, the hotel expects to have an occupancy rate of 30-35% in December, said Ms Dusadee.
"RXV will mainly target Thais as they prefer short packages of one or two days," she said. "Prices will start from 600 baht for a massage and up to 10,000 baht for a treatment."
Ms Dusadee said the wellness zone will feature a medical gym, salon, sauna, steam room and a clinic featuring treatments such as hydrotherapy, physical assessments, Eastern health checks, IV drips and cryosauna, which will be a partnership with Bumrungrad Hospital.
As Rose Garden used corporate meetings and seminars for its customer base, RXV also wants to tap this group by offering healthcare and wellness programmes for corporate staff, she said.
M.K. expects to break even within seven years, while earning 250 million baht in revenue in 2023, derived equally from the hotel and wellness centre.
Launched in late 2020, the developer's first wellness centre RAKxa shifted to focusing on the local market as border restrictions hampered global travel. The overseas market returned in July with the easing of travel restrictions.
"In August, half of the customers were foreigners, changing from mainly Thai," said Ms Dusadee. "Foreigners will account for 70-80% in December this year, mostly from the UK and Middle East."
