3 minutes ago, Baerboxer said:

 

Please explain to us how you believe the BoT keeps the ThB artificially high?

Please explain why you think they have not been doing anything to 'manage' the Baht up?

 

Didnt the Thailand Treasury recently drop official rates - why did they drop the rates? and has the BOT followed?

 

 

it is indeed sad that windsor suites had to take this drastic step but it is perhaps to cut losses rather than to bleed profusely.we hope COVID-19 will not hit more establishment in its fury.

Let’s blame everything in Thailand on this virus this way the Thai people won’t lose face TIT

24 minutes ago, AussieBob18 said:

Please explain why you think they have not been doing anything to 'manage' the Baht up?

 

Didnt the Thailand Treasury recently drop official rates - why did they drop the rates? and has the BOT followed?

 

 

BOT should really consider doing something about the baht.

4 hours ago, ianezy0 said:

If it is a 4 star facility and 50 years old, it will no doubt be due for renovation. I see this as blaming the virus as an excuse to make the staff redundant while they lavish millions on renovation.

 

I agree, it was the first thing that came to my mind, I've stayed there many times and she certainly needed an upgrade ... always blame somebody or something else in the LoS

3 minutes ago, TheFishman1 said:

Let’s blame everything in Thailand on this virus this way the Thai people won’t lose face TIT

you cannot fool all the people all the time. they will not buy it.

3 hours ago, sammieuk1 said:

Putting corona aside I would think the continuing ridiculous strength of the Baht finished them off ????

more than that it is the alternative destinations available in cambodia, vietnam, malaysia, laos and indonesia, amongst others. the Thais ended up overprisiing themselves.

4 hours ago, petermik said:

The first of many methinks......

very likely. prudent businesses will consider cutting losses rather tha bleed more financially. sad reality of te current situation.

4 hours ago, Just1Voice said:

hen a place such as this shuts down, you know things are getting seriously bad. 

this may be a corrective action to reduce financially bleeding.

4 hours ago, petermik said:

The first of many methinks......

Nah just a good time to renovate then open back 

2 hours ago, Dexxter said:

I stayed in The Windsor Suites Hotel early 2014 during the "Bangkok Shutdown" sit-ins. Great hotel in a great location. I am surprised the hotel is 50 years old because the building seemed a lot newer than that. Were they operating in a much smaller building before the current one?

I frequented the Windsor many times back in 1969-1970 nice Hotel in the good old days of Bangkok

..i think they should have said...'laid off'..as opposed to 'being made redundant'.

58 minutes ago, AussieBob18 said:

Please explain why you think they have not been doing anything to 'manage' the Baht up?

 

Didnt the Thailand Treasury recently drop official rates - why did they drop the rates? and has the BOT followed?

 

 

Because all the numbers add up...the value of the trade suprlus matches the increase in the foriegn currency reserves each month.

 

Regarding rates.....say what!!! BOT, the central bank monetary policy committee (MPC) sets the base lending rate for the country, when it changes everyone follows. The Treasury Department doesn't do what you think it does and it doesn't haven't anything to do with lending rates in the economy, it's primary function is to look after Royal Assets, The Mint and printing of notes. 

http://asean.treasury.go.th/index.php?option=com_k2&view=item&layout=item&id=383&lang=en

 

 

Edited March 7, 20206 yr by saengd

59 minutes ago, Orton Rd said:

Mrs work for 2 modern ones on Suk and a famous 4 star at SIam, all have closed floors, laid off staff and even cut the internet off to save money. Almost nobody there at all.

Its OK, they are just closing for renovations and will be open again soon 

4 hours ago, NCC1701A said:

AirBNB is a factor.

You are correct. It is a major factor.

Hotels on the islands have been complaining for more than a year about 'no tourists' but the villas that I manage are all full - even now. We have had the busiest year ever!

4 hours ago, ianezy0 said:

If it is a 4 star facility and 50 years old, it will no doubt be due for renovation. I see this as blaming the virus as an excuse to make the staff redundant while they lavish millions on renovation.

 

Your are 100% spot on. The renovation was already in the planning.

Just a 'blame game'.

4 hours ago, NCC1701A said:

AirBNB is a factor.

I took this as a play on words.....Air as in airborne .....  oh, maybe he just meant AirBNB.  

 

OK, back to the Lao Khow.....  

4 hours ago, ianezy0 said:

If it is a 4 star facility and 50 years old, it will no doubt be due for renovation. I see this as blaming the virus as an excuse to make the staff redundant while they lavish millions on renovation.

 

Renovation? lol

4 hours ago, sanemax said:

Why wouldnt they just say that they would be closing for renovations ?

Labour laws and redundancy payments. If they can blame the virus, then they can get brown envelopes relief from the government.

Family owned for 50 years....makes me think of "when the going gets tough..jump!

No money--no honey!

Refurbishment was in the planning for years but now they have an excuse to let the staff go without payment and little custom and rehire them when refurbishment is complete at no cost, they are on to a winner. Anyone who stays at this hotel when it reopens is contributing to this kind of abuse of their staff. This hotel is not cheap they earn pots and pay their staff minimum. Disgraceful.

1 minute ago, Sumarianson said:

Refurbishment was in the planning for years but now they have an excuse to let the staff go without payment and little custom and rehire them when refurbishment is complete at no cost, they are on to a winner. Anyone who stays at this hotel when it reopens is contributing to this kind of abuse of their staff. This hotel is not cheap they earn pots and pay their staff minimum. Disgraceful.

Yes, I will boycott the hotel whether it reopens or not 

The place was a pit in the late 1990's, hard to imagine it hasn't been closed period, years ago.

33 minutes ago, Tropicalevo said:

You are correct. It is a major factor.

Hotels on the islands have been complaining for more than a year about 'no tourists' but the villas that I manage are all full - even now. We have had the busiest year ever!

Makes sense. Seems more "virus safe" to be in a villa, as opposed to a large box full of many smaller boxes.

5 hours ago, NCC1701A said:

AirBNB is a factor.

And the sky high baht as well.

This is just the tip of this melting iceberg....look at all those condos that are unsold and empty. Wait till that sinks it! 

8 minutes ago, Youlike said:

And the sky high baht as well.

For a moment I thought it was because of the virus   /phew/

It probably hasn't been renovated in 50 years either so it is not a surprise.

I stayed the over 25 years ago. I think it was the Evergreen Suites back then. It was a great bargain and very nice in those days, but is aged and ready for retirement. 

I think hotel owners and managers have in the moment basically two choices:

- Lose money and hope that business will return back to normal sometime soon. And that sometime soon will maybe be many months.

- Or close the place and use the time i.e. for renovations.

 

Even top hotel lose money in the moment. And when will it get better? Nobody knows...