Bahrain-based Acacia Real Estate has acquired a 50 per cent stake in three internationally branded five-star hotels in Thailand.

The company has bought the shares through a joint venture with Meridia Capital, a Spain-based private equity group, and Capital Hospitality Group, a specialised hotel investment firm.

The deal is projected to generate a rate of return for investors in excess of 20 per cent  per annum over a five-year holding period.

TAIB Bank has been appointed as the exclusive placement agent for the project.

The 500-key hotel portfolio comprises the Evason Phuket & Six Senses Spa, Evason Hua Hin & Six Senses Spa, and Evason Hua Hin Hideaway & Six Senses Spa.

The properties are located in Hua Hin and Phuket, Thailand and operated by Six Senses Resorts & Spas, a leading resort and spa management and development company headquartered in Bangkok.

Six Senses, which also owns 50pc of the portfolio, will continue to manage the properties.

"We're proud to be able to offer our clients this unique opportunity to invest in Thailand's growing real estate and hospitality market," said Acacia board member and TAIB Bank vice-chairman and chief executive Iqbal Mamdani.-TradeArabia News Service