Apartments just the start for Bangkok Hospital
Bangkok Hospital on Soi Soonvijai is seeking to acquire more serviced apartment as part of a broarder plan to create a medical complex that features a shopping mall and movie theatres in addition to healthcare services.
“The new stand-alone serviced apartment is expected to materialize over the next six months,” said Dr Chatree Duangnet, chief operating officer of Bangkok Dusit Medical Services Plc(BGH), which operates Bangkok Hospital. “The investment could be made through the acquisition of existing condominiums adjacent to the hospital, or a new construction.”
Bangkok Hospital at Soi Soonvijai started managing apartments when it spent 20 million baht to transform the seventh and eighth floors of Building C into 40 apartments that opened in August. BMC Serviced Apartment, which manages the rooms, claims it had booked up to 90% of them.
Customers are mainly foreigners who accompany foreign patients. They are mostly form the Middle East, Bangladesh, England, Burma and rural areas of Thailand.
Rooms fetch 1,800 baht per night for a standard studio, and 2,500 baht for a deluxe room that includes a buffet breakfast and lunch.
On top of standard facilities on par with those of leading hotels, the serviced apartments also offer additional services such as visa renewals for foreign customers and airport transport.
According to Dr Chatree, requests for apartments have been overwhelming, particularly from foreigners, Since the hospital’s 15 rai have already been fully utilized, the company must purchase new land for the new stand-along apartment building.
Bangkok Hospital at Soi Soonvijai currently operates six buildings. They include the stand-alone Bangkok International Hospital, Bangkok Heart Hospital,and the Rehabilitation Center. It recently added Wattanospth Hospital for cancer treatment.
To fulfil its Bangkok Hospital Medical Complex plan, Bangkok Hospital needs to invest in a stand-alone serviced apartment building, a specialized hospital for neurology treatment, a smallish shopping mall and a movie theatre. It should be completed within two years, said Dr Chatree.
Bangkok Hospital on Soi Soonvijai currently contributes about 35% of BGH’s total revenue, which was estimated at 1.2 billion baht this year. The hospital treats an average of 2,500 patients a day. Of those, abut 800, or 32%, are foreigners.
Of the 1.2 million foreign patients who came to Thailand for medical treatment last year, more than 500,000 sought medical treatment in the Bangkok Hospital network, which includes those under the Samitivej, and BNH brands.
BGH currently operates 17 hospitals under three brands –Bangkok Hospital, Samitivej, and BNH. The company also holds a 19% stake in SET-listed Ramkhamhaeng Hospital, and 15.76% of Prasit Patana Public Plc (PYT), the operator of the Phyathai Hospital Group.
The group is also expanding regionally. A hospital in Siem Reap, Cambodia, is scheduled to open in the next few weeks. Shares of BGH closed yesterday at 35 baht, unchanged.