Is the closure of your favorite bar or restaurant imminent?

[kinyara]

I think the timing of a significant recovery will come too late for anything approaching a profitable 21/22 "High" season , so I'm afraid if I was in that Triangle Bar owner's shoes I'd cut my losses and get out now, hard and emotional as it obviously is for him.  He's just delaying the inevitable given the situation on the ground now and more than likely the next 6-15 months.

 

Better he lives to fight another day and picks up a decent deal on one of the many vacant lots that will still be sitting empty in 15-24 months time when Pattaya may be a more likely viable business proposition again. 

 

[sungod]

On 5/31/2021 at 1:42 PM, scubascuba3 said:

are you talking out and about or in his private condo? fancy that wearing just boxers is his home in a hot climate, well I never

I even get naked in bed.

[sungod]

On 5/31/2021 at 10:09 PM, champers said:

I don't think so, though that is only accross the Pattaya/Naklua road. I would have thought that the new hotel right next door to the demolition area might be connected. I think the properties being torn down are/were German owned. I was hoping that some posters on here might have the lowdown about what is going on.

I will dig deeper and update if I do discover anything.

I was in La Grottino the other night and asked, I was told its all been bought up by the hotel, larger grounds and car park etc.

[rott]

The Swan shut, probably till tourists return. 

[Mr Meeseeks]

10 hours ago, DerbyDan said:

When you don't cut things right away it becomes harder to close down later. You have already lost money so you just hold on hoping it's going to bounce back. How long can it last, right.

 

What happens with most people is they end up getting frustrated and closing at the worst possible time (right before things start turning around for the better).

Like gambling or trading stocks and crypto, emotions dictate, bad decisions are made, and money and businesses are lost. 

[scubascuba3]

31 minutes ago, Mr Meeseeks said:

Like gambling or trading stocks and crypto, emotions dictate, bad decisions are made, and money and businesses are lost. 

Like the stock markets a low is a good opportunity to make money, same with businesses here, people just need to decide when to jump back in

[DerbyDan]

10 hours ago, Mr Meeseeks said:

Like gambling or trading stocks and crypto, emotions dictate, bad decisions are made, and money and businesses are lost. 

Not just with that, but everything. At the root it's lack of flexibility, or inability to admit you are wrong and change or to let go. You just get more in the hole the longer you fight something that's not working. It comes from the suffering of being to attached to things (Buddhism).

 

The more attached you are to something the more likely the situation is to snap back the other way.

[rott]

1 hour ago, DerbyDan said:

Not just with that, but everything. At the root it's lack of flexibility, or inability to admit you are wrong and change or to let go. You just get more in the hole the longer you fight something that's not working. It comes from the suffering of being to attached to things (Buddhism).

 

The more attached you are to something the more likely the situation is to snap back the other way.

True but it also comes from being attached to your income and livelihood - if you are actually still getting one. And from the investment you have made, which means letting go of a chunk of your net worth. 

You are damned whichever way you jump, nasty situation to be in. I am happy to be retired with no involvement in business and, not that it does them any good, feel great sympathy for anybody caught in this current trap. 

I am awake at this odd hour through insomnia not worry ????. 

[jastheace]

On 6/2/2021 at 8:12 AM, TaaSaparot said:

 

Since you are in the know, how much is he making off his youtube channel?

try the website 'socialblade'. for a small fee, you'll get his membership figures also.

[jacko45k]

19 hours ago, kinyara said:

Better he lives to fight another day and picks up a decent deal on one of the many vacant lots that will still be sitting empty in 15-24 months time when Pattaya may be a more likely viable business proposition again. 

 

The unswaying monthly rent requirement is a killer...... surely picking up a shop house in the area at a later date will save many hundreds of thousands. 

 

[Leaver]

21 hours ago, kinyara said:

I think the timing of a significant recovery will come too late for anything approaching a profitable 21/22 "High" season , so I'm afraid if I was in that Triangle Bar owner's shoes I'd cut my losses and get out now, hard and emotional as it obviously is for him.  He's just delaying the inevitable given the situation on the ground now and more than likely the next 6-15 months.

 

Better he lives to fight another day and picks up a decent deal on one of the many vacant lots that will still be sitting empty in 15-24 months time when Pattaya may be a more likely viable business proposition again. 

 

 

Hindsight is a wonderful thing, and was understandable up unto late last year.  However, the writing has been on the wall for many months since the initial uncertainty of covid in Thailand / Pattaya. 

 

I don't know what was paid for the Triangle Bar, but by the owner's admission, he had three good years in the bar.  He's now half way through three bad years, very bad years, and what awaits him at the end is a large key money payment and lease renewal, which as an operating cost, will eat into profits immediately, as it is reconciled against the following years of profits.

 

The first 6 months aside, 12 months x 80,000 baht = 960,000 baht, and there is possibly another 12 months before tourism of any significant figures will be arriving here, so you are potentially looking at saving near 2 million baht, which as you say, can be used to fight another day, possibly from a better, bigger, and cheaper location, rather than given to a Thai landlord during harsh times. 

 

Indeed, there very well could be cheap start up deals like "no key money" on many premises here at the end of covid.  For all he knows, Triangle Bar may sit vacant until better times, and then he may be able to step back in on better terms.

 

These figures are at their worse, which is lock down, some trading has subsidized the amount of his pension he has needed to put in to prop up the bar, but trading also comes with extra costs, like staff salaries, including expensive salaries for the band.  

 

His own words were something like "pay it or lose it" in the interview.  The question is, and only he will know the figures, at what point have you paid more than you would have lost, thus making a lose lose situation for yourself.  

 

I can only imagine the stress and sleepless nights this financial burden must create.  Hardly a pleasant retirement. 

 

I will continue to support Triangle Bar, but must admit,  the beer will not taste as nice there now, knowing that I am also supporting a ruthless Thai landlord that refuses to be reasonable during extraordinary times.   Shame on them.   

 

 

[TaaSaparot]

[rott]

Beat me to it sappo, sad day but I suppose a few nearby places will get some spin-off from it. 

At least I can stop worrying about that book I never returned. 

[Leaver]

2 minutes ago, TaaSaparot said:

 

Sad news. 

 

Pattaya's most popular sports bar.   Definitely one of my favourite places for a beer and a match.  Good food, service and facilities as well.  I will miss it.     

 

 

[TaaSaparot]

56 minutes ago, Leaver said:

 

Sad news. 

 

Pattaya's most popular sports bar.   Definitely one of my favourite places for a beer and a match.  Good food, service and facilities as well.  I will miss it.     

 

 

No miss to me, only ever went once, and that was because they said it was non smoking bar and it wasn't.

[Susco]

1 hour ago, rott said:

At least I can stop worrying about that book I never returned. 

 

So now we know the real reason for their closure

[Susco]

On 5/31/2021 at 10:32 AM, kingofthemountain said:

I take 1 euro = 45 bahts as an example, but keep in mind most of these guys were here when you had 1 euro = 50 bahts or even more)

 

They haven't been here long then, since the Euro ever has been less than 12 months above 50 baht.

[kinyara]

6 hours ago, Leaver said:

 

 

I will continue to support Triangle Bar, but must admit,  the beer will not taste as nice there now, knowing that I am also supporting a ruthless Thai landlord that refuses to be reasonable during extraordinary times.   Shame on them.   

 

 

 

I thought an interesting snippet In the interview was that he mentioned that his landlord is Toyota corporation.   

[Leaver]

17 minutes ago, kinyara said:

 

I thought an interesting snippet In the interview was that he mentioned that his landlord is Toyota corporation.   

 

From what he said, and also Nick Dean, it appears a company may own the whole Soi.  

 

A landlord doesn't have to be an individual.  

 

I wonder how much influence the agent has over this.

 

Edited June 4, 2021 by Leaver

[kingofthemountain]

8 minutes ago, kinyara said:

 

I thought an interesting snippet In the interview was that he mentioned that his landlord is Toyota corporation.   

Not really a surprise, the soi Chayapoon and his buildings are a private area (Including the street) owned by Toyota since ages, and the corporation uses it as a cash cow, that's why the street and

the buildings are in such a state of disrepair

[scubascuba3]

6 minutes ago, kingofthemountain said:

Not really a surprise, the soi Chayapoon and his buildings are a private area (Including the street) owned by Toyota since ages, and the corporation uses it as a cash cow, that's why the street and

the buildings are in such a state of disrepair

Cash cow? probably one of their worst investments, i doubt many businesses are paying rent

[petermik]

1 minute ago, scubascuba3 said:

Cash cow? probably one of their worst investments, i doubt many businesses are paying rent

According to Steve at the Triangle his rent is 80,000/month and he,s asked the Agent about a reduction....no can do was the reply.

[kingofthemountain]

8 minutes ago, scubascuba3 said:

Cash cow? probably one of their worst investments, i doubt many businesses are paying rent

You are kidding right?

Of course it's a cash cow, the rents asked (And paid) are just ridiculous for derelight buildings (Most of them with rain water infiltration problems in the roof) in a  devastated street where you can hardly drive in even with a pick up

All of this because the company doesn't want to spend 1 satang on the infrastructure while receiving millions of bahts in rent every year since ages (And i don't even talk about the infamous key money)

And you can be sure all the rents are paid in due time

if they were not, the business owner will be evicted in the minute

Edited June 4, 2021 by kingofthemountain

[scubascuba3]

2 minutes ago, kingofthemountain said:

You are kidding right?

Of course it's a cash cow, the rent are just ridiculous for derelight buildings

(Most of them with rain water infiltration problems in the roof) in a 

devastated street where you can hardly drive in even with a pick up

all of this because the company doesn't want to spend 1 satang on the infrastructure while

having paid millions of bahts in rent every year since ages

And you can be sure all the rents are paid in due time

if they were not, the business owner will be evected in the minute

I doubt it, have you seen all the massage shops, many closed, ladyboys in others, no money in it with a few exceptions, Amon, Triangle and that gentleman club. Even English Rose is up for sale, the soi is a wasteland

[kingofthemountain]

Just now, scubascuba3 said:

I doubt it, have you seen all the massage shops, many closed, ladyboys in others, no money in it with a few exceptions, Amon, Triangle and that gentleman club. Even English Rose is up for sale, the soi is a wasteland

There is a lot of shops closed now, because of covid 19

but before that most of the business was alive and making some money

at least enough to pay the rent

There was a lot of turn over in the smaller shops (With the exception of the ones

you are citing) but again it was still a good cash flow for Toyota

a new business owner = a new key money paid ahaha

Again the entire street costs them absolutely nothing as they 

don't spend any money on it, they only have money coming in their coffers

it's a one way flow

[Susco]

25 minutes ago, kingofthemountain said:

Not really a surprise, the soi Chayapoon and his buildings are a private area (Including the street) owned by Toyota since ages, and the corporation uses it as a cash cow, that's why the street and

the buildings are in such a state of disrepair

 

Yes the whole street is owned by a Toyota dealer in Chonburi.

 

I recall 25 years ago, there was buffalo grill on the corner of the street with soi buakhao.

 

When they shut I was interested to buy that property, which I think was a double shop house.

 

I travelled to the Toyota garage in Chonburi and spoke with the owner, and we made a deal for 2.3 million Baht.

 

We made an appointment to sign the agreement the next day, but I had a fever that day, probably because of travelling by motorbike all that way in the filthy air.

 

So I phoned them up and asked if we could do the next day. That is when they told me they actually meant 23 Million.

 

Take note this was twenty-five years ago

[scubascuba3]

20 minutes ago, kingofthemountain said:

 

a new business owner = a new key money paid ahaha

There was a business for sale recently on that soi, it was a massage shop bar type of place, i recall it was low rent and no key money, maybe still empty

[kingofthemountain]

1 minute ago, scubascuba3 said:

There was a business for sale recently on that soi, it was a massage shop bar type of place, i recall it was low rent and no key money, maybe still empty

Even with low rents, no key money and half of the buildings in the soi closed at the moment

Toyota is still having few millions bahts coming every month from this street 

just thinking to the amount of money that has been milked from this place in

the last 30 years, Cresus name comes to my mind

[Susco]

1 minute ago, kingofthemountain said:

Even with low rents, no key money and half of the buildings in the soi closed at the moment

Toyota is still having few millions bahts coming every month from this street 

just thinking to the amount of money that has been milked from this place in

the last 30 years, Cresus name comes to my mind

 

The property where Xzite was, and now they are building the new concept, is also owned by the same company

[rott]

2 hours ago, scubascuba3 said:

I doubt it, have you seen all the massage shops, many closed, ladyboys in others, no money in it with a few exceptions, Amon, Triangle and that gentleman club. Even English Rose is up for sale, the soi is a wasteland

True enough, but is any bar/entertainment Soi doing any better. I can't think of one.