Thailand to gain 31,000 new hotel rooms

[Harsh Jones]

9 hours ago, onekoolguy said:

A good way to make money is to buy failed businesses for pennies on the dollar! 

Sounds like poor planning on someones part?

 

Yes. But these developers just have hot money to blow thanks to the monetary expansion/bailout from Covid.

 

But hey. Maybe business cycle recessions are a thing of the past. Maybe we will never have another 2008 financial crisis again. It sure seems that way. Probably not though. Some of these hotels will be half built husks , white elephants dotting the skyline. We even still have some of those leftover from 1997 in BKK and Manila

Edited August 22, 2021 by Harsh Jones

[fredscats]

7 hours ago, GStewart70 said:

 

Property in the UK is averaging 10% capital growth per annum.

Of course, if you have burned your bridges and depending on the tourists to return and frequent your titty bar your in a world of trouble.

The hotel money will be Sino-Thai and an investing timescale of 5 to 10 years.

There was an article about it in Forbes. Bought a big site in Jomtein already.

The market it's aimed at will be Asian, mainly Chinese, not farang.

They will be an endangered species by then.

Just like a lot of farang bar owners still waiting for the time machine to transport them back to Jan 2020.

For the moment,but that moment is just about finished.Stamp duty holiday finished,but the exciting news ,now it is good news, inflation is on the rise,which in turn pushes interest rates up,not just in UK.A 3 to 4 % interest will bring the market to its knees  throwing the house keys back at lenders will be the norm

 

As for Thailand   the chinks can have it all,just a cheap place to hang about it at the mo

[fredscats]

17 hours ago, newnative said:

     In some cases that is what is happening in Pattaya.  I think an old low-rise resort was razed for the new Grande Centre Point 2 going up.  And, an old hotel was demolished to make way for the Edge project.  The Imperial Hotel and Grand Sole Hotel are both closed and slated for redevelopment at some point.  

That point was raised years ago  and still there,not much action at Grande centre either,fact Id say no action,and the ludricous huge projects being built/and built around there    LOL   anyone want a 707?   "  no key money for farangs"  LOL  LOL

[jacko45k]

15 hours ago, jaiyen said:

Hopefully we can take advantage of having a clean hotel room for a change. All Thai hotels are very old and worn out. Need some modern clean ones. Get in quick before the dirty Chinese get in there !

Not all, plenty of new and up market places in Pattaya now, Amari, Hilton, Holiday Inn, Grande Centre Point....

[heybuz]

19 hours ago, Mickeymaus said:

I don't think so. I guess that the sex tourists will be the first ones that will come back. They must be so horny in the meantime... ????

their only a bunch of bankers anyway,555

Edited August 23, 2021 by heybuz

[newnative]

2 minutes ago, fredscats said:

That point was raised years ago  and still there,not much action at Grande centre either,fact Id say no action,and the ludricous huge projects being built/and built around there    LOL   anyone want a 707?   "  no key money for farangs"  LOL  LOL

     The last time I checked construction was still going on at Grande Centre Point 2, the new highrise hotel across the street from it, and the new highrise hotel across from Central Festival.  The third highrise tower at Discovery Beach Hotel is about done.  The two new condo projects on Third Road are also nearing completion, as is the Edge project.  I don't get to Jomtien that often but last time I was there it appeared that construction was proceeding on Copacabana and the two Riviera projects.  There likely are projects such as the Runway 88 airplane site you mentioned that have been paused but the majority seem to still be progressing.  I welcome and corrections and updates.

[fredscats]

Just now, newnative said:

     The last time I checked construction was still going on at Grande Centre Point 2, the new highrise hotel across the street from it, and the new highrise hotel across from Central Festival.  The third highrise tower at Discovery Beach Hotel is about done.  The two new condo projects on Third Road are also nearing completion, as is the Edge project.  I don't get to Jomtien that often but last time I was there it appeared that construction was proceeding on Copacabana and the two Riviera projects.  There likely are projects such as the Runway 88 airplane site you mentioned that have been paused but the majority seem to still be progressing.  I welcome and corrections and updates.

The constructions can hopefully progress accordingly,but the occupancy seems strangely out of kinter,     if you could kindly direct me to occupacy rates?   I do know one huge hotel complex in Naklua that does boast an occupncy rate of 86%  {for one night only,in months)for bussed in Thais taking advantage of 50% off ,with futher 20% off coupons

 

Yes the 707 project is paused?  more like fallen off a cliff Id say

[starky]

21 hours ago, bkk6060 said:

It certainly is not the best, but your post is false.

 

https://visaguide.world/news/45-world-countries-recognise-chinese-sinovac-vaccine-for-travel-amid-covid-19/

Did you read that article? Lol. Nepal, Kazakhstan, Tajikistan et al. Not exactly places high on anyone's travel destination list.

Edited August 23, 2021 by starky

[bkkcanuck8]

3 minutes ago, fredscats said:

The constructions can hopefully progress accordingly,but the occupancy seems strangely out of kinter,     if you could kindly direct me to occupacy rates?   I do know one huge hotel complex in Naklua that does boast an occupncy rate of 86%  {for one night only,in months)for bussed in Thais taking advantage of 50% off ,with futher 20% off coupons

 

Yes the 707 project is paused?  more like fallen off a cliff Id say

And I bet those Thais taking advantage of things like that are for a subset of hotels, discounted and probably mostly on weekends.  I would also be curious as to the veracity of the bragging because most hotels in the west treat that as a trade secret almost....  because letting people know gives them more negotiating power and that is something that no business really wants to get into.

[newnative]

30 minutes ago, fredscats said:

The constructions can hopefully progress accordingly,but the occupancy seems strangely out of kinter,     if you could kindly direct me to occupacy rates?   I do know one huge hotel complex in Naklua that does boast an occupncy rate of 86%  {for one night only,in months)for bussed in Thais taking advantage of 50% off ,with futher 20% off coupons

 

Yes the 707 project is paused?  more like fallen off a cliff Id say

    We're in deep red lockdown with travel restrictions so--guess what--occupancy is low.  But, surprisingly, most of the big hotels in north Pattaya were doing ok on weekends with  domestic tourists before the current lockdown.  Some visitors, indeed, may have been taking advantage of travel offers/coupons--both from the hotels and the government.  Slower on weekdays but apparently they were doing enough business overall to stay open at that time.  

[fredscats]

2 minutes ago, newnative said:

    We're in deep red lockdown with travel restrictions so--guess what--occupancy is low.  But, surprisingly, most of the big hotels in north Pattaya were doing ok on weekends with  domestic tourists before the current lockdown.  Some visitors, indeed, may have been taking advantage of travel offers/coupons--both from the hotels and the government.  Slower on weekdays but apparently they were doing enough business overall to stay open at that time.  

No you are wrong.  One bus load yesterday,one hotel north Pattaya,arrived late,left early.  I live there and counting. No hotels in north Pattaya are doing well,staff with what can be retained are on half hours ,instead of household chores are placed on gardening/maintenance

[newnative]

28 minutes ago, fredscats said:

No you are wrong.  One bus load yesterday,one hotel north Pattaya,arrived late,left early.  I live there and counting. No hotels in north Pattaya are doing well,staff with what can be retained are on half hours ,instead of household chores are placed on gardening/maintenance

    Try to read more carefully.  I said occupancy is low now.  Duh.  We are in lockdown with travel restrictions.  Of course it's dead now.  Of course no hotels are doing well now.  I think Grand Palazzo has been closed during the lockdown--perhaps others.

     I also live in north Pattaya and before the lockdown hotels such as Mytt, Holiday Inn, Grande Centre Point, Dusit, Cape Dara, Amari, and others were doing well enough on weekends--with some weekday business--to at least remain open.   

[fredscats]

1 hour ago, newnative said:

    Try to read more carefully.  I said occupancy is low now.  Duh.  We are in lockdown with travel restrictions.  Of course it's dead now.  Of course no hotels are doing well now.  I think Grand Palazzo has been closed during the lockdown--perhaps others.

     I also live in north Pattaya and before the lockdown hotels such as Mytt, Holiday Inn, Grande Centre Point, Dusit, Cape Dara, Amari, and others were doing well enough on weekends--with some weekday business--to at least remain open.   

Try reading even more carefully Duh....running hotels on skeleton staff is a no no,  most of the mentioned hotels are looking for a way out,change of ownership downsizing staff/inferior cheaper staff,they are finished,there are no more good times happening in Pattaya or anywhere else Thailand  Delta variant will see to that,coupled with high insurance,medical tourists rates inc

   They are no more. Now I know you like property,pehaps Ok when going well,try a litmus test now,try and flog your place  lol  not a chance in hell,same same hotels,majority will be largely empty roomed forever,majority razed within 5 years

Edited August 23, 2021 by fredscats

[Nong Khai Man]

3 hours ago, heybuz said:

their only a bunch of bankers anyway,555

You did say " BANKERS " Didn't You ??

[villageidiotY2K]

I'm more looking into short time motels. I haven't been there for ages for some wet n wild

[GStewart70]

3 hours ago, fredscats said:

For the moment,but that moment is just about finished.Stamp duty holiday finished,but the exciting news ,now it is good news, inflation is on the rise,which in turn pushes interest rates up,not just in UK.A 3 to 4 % interest will bring the market to its knees  throwing the house keys back at lenders will be the norm

 

As for Thailand   the chinks can have it all,just a cheap place to hang about it at the mo

Another genius.

Wrong.

https://www.ft.com/content/a10e3f2f-31ca-4078-a2f0-04b881daaaeb

Stamp duty didn't put house prices up 

Interest rates won't be rising anytime soon and house/rent price increases will settle at about 5% for the n xt few years.

Good news for those of us who own property in the UK.

Bad news for those that sold out and now cannot afford to return.

 

[fredscats]

21 minutes ago, GStewart70 said:

Another genius.

Wrong.

https://www.ft.com/content/a10e3f2f-31ca-4078-a2f0-04b881daaaeb,

Stamp duty didn't put house prices up 

Interest rates won't be rising anytime soon and house/rent price increases will settle at about 5% for the n xt few years.

Good news for those of us who own property in the UK.

Bad news for those that sold out and now cannot afford to return.

 

House price growth slows as housing market cools  BBC

This headline supersedes yours lol   only a day or two old,but many pointers.  Interests rates will be up far sooner than 5 years,id say sooner than 5 months,even sooner than that,key throwing season about to begin

 

Whoever said a return to UK? never!  now return to Spain on the cards,but need income of 23 thousand pounds /euros,can you ,manage that  lol   Now with sky high mortgage (and possibly a key throwing moment) to be factored in,maybe tricky

Edited August 23, 2021 by fredscats

[GStewart70]

4 minutes ago, fredscats said:

House price growth slows as housing market cools  BBC

This headline supersedes yours lol   only a day or two old,but many pointers.  Interests rates will be up far sooner than 5 years,id say sooner than 5 months,even sooner than that,key throwing season about to begin

 

Whoever said a return to UK? never!  now return to Spain on the cards,but need income of 23 thousand pounds /euros,can you ,manage that  lol   Now with sky high mortgage (and possibly a key throwing moment) to be factored in,maybe tricky

 

Sorry. I own both properties.

No mortgage.

So i could afford to do anything, pretty much anywhere in the world, but have a funny feeling you may not be in the same position.

 

[Harveyboy]

Build it and they will come....

[fredscats]

4 hours ago, GStewart70 said:

Sorry. I own both properties.

No mortgage.

So i could afford to do anything, pretty much anywhere in the world, but have a funny feeling you may not be in the same position.

 

Funny thing is, I know ,yes I do, I have more than you.As bringing the subject up for discussion puts you in a delicate position,must be insecure to the point of" look at me"  an imbecile on the hoof.    I have no desire to return to UK  none. Welcome to your one up ,one down hovels,keep paying council taxes  lol

[GStewart70]

Just now, fredscats said:

Funny thing is, I know ,yes I do, I have more than you.As bringing the subject up for discussion puts you in a delicate position,must be insecure to the point of" look at me"  an imbecile on the hoof.    I have no desire to return to UK  none. Welcome to your one up ,one down hovels,keep paying council taxes  lol

Wrong again.

I own a detached house in suburbia.

We don't pay council tax in my part of the UK, but we can punctuate sentences and form paragraphs.

Don't know why your getting so aggressive, i decided to keep my assets in the UK. Not my fault if house prices and rents are going up.

Just means those that didn't, can't afford to come back if they wanted to.

Anyway, no point arguing, best to wait a year and then see if prices and rents have continued to rise.

I'll post the facts next August.

Have a nice day.

 

[3NUMBAS]

a lot of cash is  generated from the sale of narcotics ,it needs to go somewhere

[fredscats]

3 minutes ago, GStewart70 said:

Wrong again.

I own a detached house in suburbia.

We don't pay council tax in my part of the UK, but we can punctuate sentences and form paragraphs.

Don't know why your getting so aggressive, i decided to keep my assets in the UK. Not my fault if house prices and rents are going up.

Just means those that didn't, can't afford to come back if they wanted to.

Anyway, no point arguing, best to wait a year and then see if prices and rents have continued to rise.

I'll post the facts next August.

Have a nice day.

 

 No need to wait a year  3% to 4% forecast for inflation just this year,and only 4 months to go to year end,Id say those keys of yours would be first in the hat lol

 

Prices/rents are going nowhere but south,seen it all before,likes of you,especially the likes of you, blown away in an instant,you cannot even afford to be here in Thailand,up to your eyeballs in debt,one step away from insolvency. Id say you were exceedingly  insecure,even to bring a subject likened to this up....and I know,yes I do know Im far more secure,far more than you could realise

 

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwi4hdeI78byAhXLumMGHdkRBV4QFnoECDIQAQ&url=https

 

%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2021%2Fjun%2F24%2Fbank-of-england-rejects-interest-rate-rise-despite-inflation-worries&usg=AOvVaw0CyhRtUEAA71o3922j2haC

[Eric Loh]

4 minutes ago, 3NUMBAS said:

a lot of cash is  generated from the sale of narcotics ,it needs to go somewhere

Inter-Continental and Holiday Inn in the mix ? Damn you really know the trade well. ????