Viirelaid Thailand Resort

General Information about the Project

Viirelaid Thailand Resort is a hotel and experiential accommodation concept. However, due to the demand for larger and more private villas, we decided to build 7 LUXURY VILLAS with private pools on an adjacent property to the resort. Each villa has a size of 102 m² of enclosed space, plus a covered area, terrace, pool, and luxurious furnishings.

What is Viirelaid Thailand Resort and why Thailand?

The main difference from Viirelaid in Estonia is that there is no need to attract tourists to the location—tourists are already here. We just need to offer an attractive and competitive service. The Kingdom of Thailand is large, peaceful, and has a stable history. This project is an expansion of the successful Viirelaid resort in Estonia. While Estonia has a 5-6 month tourist season, Thailand has tourists year-round. Additionally, the costs in Thailand are lower than in Estonia (construction, staff, electricity, VAT at 7%), while room rates are comparable to those in Estonia. The climate is stable, with the rainy season in October-November, and the peak season starts on December 15.

Why Koh Phangan, Thailand?

Koh Phangan is currently the fastest-growing tourist area in Thailand, where there is a significant shortage of accommodation. The island attracts about 1.5 million visitors annually. In January and February, occupancy rates are near 100%, and some visitors are unable to come due to a lack of available accommodation. Sixty percent of the island is a nature reserve where no construction is allowed, preserving its natural beauty. The island has a stable resident population, creating consistent demand for long-term villa rentals, including among local communities. The largest communities are Jewish, German, and Russian, and the island is also popular with Estonians. What draws people to the island? A welcoming international community, white sandy beaches, nature hikes, diving, a long season due to the consistent climate, a wide range of activities (over 1,000+ events annually, 25+ spiritual centers, as well as large beach parties like the “Full Moon Party,” which attracts up to 30,000 participants), an active local community, and a safe environment.

What phase is the villa project in?

The land is leased, the buildings are designed, and construction has begun. The estimated construction period is approximately 8 months.

Do shareholders receive discounts on accommodations?

By booking and paying directly through the website, owners receive a 25% discount compared to the prices listed on booking.com.

Profit Distribution and Income Tax

When acquiring a share, the shareholder issues a loan to the company. In this case, profits can be paid to investors as interest, without needing to pay dividend tax. Profit distributions are made monthly, based on the previous month’s profits, in proportion to each shareholder’s ownership. A reserve is kept for one month’s operating expenses, with the rest distributed to the owners.

Exit Opportunities

Shares can be freely sold, with shareholders having the right of first refusal. The entire resort can also be sold, which requires the approval of 75% of the shareholders as per the articles of association.

How do I receive information as an owner and investor?

Until construction begins, a quarterly “one-pager” update will be sent via email. Once construction starts, monthly updates will be provided, covering revenues, expenses, and a description of activities.

What is the role of the founders?

Priit Villemson and Hegert Lepik are responsible for both the resort and villa construction and their successful launch. Hegert resides on Koh Phangan island, while Priit travels regularly to Thailand and participates remotely at other times.

What experience do the founders have?

Priit has experience in creating and managing Viirelaid Resort, which is an experiential accommodation concept similar to what is being developed in Thailand. He consistently brings new ideas to offer interesting environments and experiences, with 7 years of marketing experience. Priit has handled all tasks at Viirelaid, from generating ideas and overseeing construction to providing daily customer service. He successfully transformed an essentially empty island with an old house and no electricity or access into a popular, economically successful tourism destination. Priit is well-versed in all aspects of experiential accommodation, both theoretically and practically. He also has experience in construction, real estate development, and property management.

Hegert has managed architectural firms and real estate development and construction companies, having designed over 1,000 buildings and built more than 450. He has also served as a sales director and board member at Plasto AS for three years, an economist at AS Viljandi Aken ja Uks for three years, and owned a rental property portfolio in Romania. He currently owns two passive income-generating businesses: www.majad.ee and www.hecateverona.com. Hegert holds an MBA in finance and management from the University of Tartu. Collectively, the founders bring expertise in design, construction, resort management, financial and marketing skills, and project management. Priit and Hegert also have a joint tourism project in Virtsu, Estonia, where two dome houses were completed in June 2024.

Nearest Beach to Viirelaid Thailand Resort

The nearest beach is 600 meters away in a straight line, or 1.2 kilometers by car/scooter. A kite surfing club is located 1.4 kilometers from our resort.