TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Laguna and Listed Hotel Companies Register Dramatic Declines

Category: Hotels, Posted:18 May 2009 | 07:26 am

It's reporting time for 1st quarter 2009 operating results of Thai listed hotel companies. According to UOB Kay Hian Securities Laguna Resorts and Hotels dropped by 80% from THB 718.6 million in 2008 to THB 109.3 million this year. What was considered to be high season came in with consolidated occupancies of 60% against 87% a year earlier.
Bill Heineke's Minor International who has ownership interest in the JW Marriott and Anantara hotels on and island and owns properties operated by Four Seasons and Marriott along with its own Anantara brand saw less pronounced drops of 47% from THB 750 million down to THB 400.36 million this year. Occupancies shrunk from 80% down to 58%.
The Erawan group which counts the Patong Ibis and Six Senses Destination Spa here in Phuket amongst its large scale hotel assets dropped down to THB 20.95 million from THB 134.24 in 2008.
Looking towards mid year figures and full year 2009 the outlook remains uncertain with a certain impact by the 'red shirt' demonstrations, economic downturn and swine flu epidemic. By all accounts recovery expectations are now being pushed into 2010 by most industry analysts.

Other News

Read more

C9 Hotelworks Releases ‘The Phuket Luxury Report’

Category: Hotels|Real estate|Tourism, Posted:01 Nov 2024 | 08:27 am C9 Hotelworks newly released ‘The Phuket Luxury Report‘ explores the rising prominence of Phuket as the leading luxury destination in Southeast Asia. What is driving demand for Phuket’s luxury real estate? The island’s combination of natural beauty, high-end amenities, and competitive pricing draws affluent investors and tourists worldwide. Compared to destinations like Miami, Dubai, and […]
Read more

C9 Sessions Are Back This Thursday, The Phuket Luxury Report

Category: Hotels|Real estate|Tourism, Posted:27 Oct 2024 | 10:38 am The C9 Sessions are back in Phuket this Thursday 31st October 2024.   We have an awesome 90-minute program on luxury real estate, Michelin restaurants, international schools, hospitals and more. Phuket has changed dramatically over the last few years as it has morphed from a tourist haven to a residential destination. The more recent transformation is […]
Read more

C9 Hotelworks New Thailand Branded Residences Report Released

Category: Hotels|Real estate, Posted:21 Sep 2024 | 09:19 am In 2020, Aman Nai Lert Bangkok established a new standard for ultra-luxury branded residences positioning itself as the best-in-market product at the time. Today, the Porsche Design Tower Bangkok, developed in partnership with Ananda Development, has pushed those boundaries further, surpassing THB1 million (just over USD33,000) per square meter. This landmark project not only raises […]
SiaJai logo

Thailand's Leading Homecare Marketplace