KBank launches ‘wellness’ finance programme
Kasikornbank (KBank) and the Wellness Department Store Co, Ltd, a provider of hotels and spas, have co-launched a "Wellness leasing" project to provide a one-stop service, including financial services and knowledge for hotel and spa operators.
Under the partnership, KBank will offer financial help, while Wellness will screen customers with growth potential and a positive business background.
KBank forecasts that there will be more than 100 participants in the loan programme which is expected to offer around Bt1 billion in loans this year.
KBank is going to grant loans for hotels, featuring long-term and overdraft loans (OD) with repayment periods of up to 10 years offered to registered hotel operators, and loans for spa business which includes long-term loans, OD and promissory notes for up to 10 years.
Moreover, loan packages are also offered to applicants requesting loans before March 31, 2019, who are entitled to a 0 per cent interest rate plus a special installment plan for a period of six months for loans of up to Bt3 million.
Pipavat Bhadranavik, KBank vice president, said Thai spas had potential for further growth, in line with the worldwide health-consciousness trend that was thriving.
Aesthetics, anti-ageing, spa and wellness tourism in Thailand reported a market value of Bt136.5 billion in 2017.
