Warning from Pattaya hotel industry boss of a Chinese takeover, loss of income to the economy

[webfact]

Hotel industry leader Phisut Sae-khu has called for a suspension of debt repayment for hotel owners in Pattaya until the foreign tourism industry returns to normal as he warned that they face extreme financial difficulty and are ready to sell out to investors from China. It comes as efforts to relaunch foreign tourism in October under ‘new normal’ arrangements and Sandbox schemes appear to be losing momentum with the country still well behind on its vaccination targets and a lack of interest from visitors.

 

by James Morris and Son Nguyen

 

The Minister of Tourism and Sports, Mr Phiphat Ratchakitprakarn, last week talked of a nationwide reopening to foreign tourists without quarantine based on the kingdom achieving herd immunity as defined by the Thai government.

 

The minister also raised the prospect of resurrecting the old travel bubble concept or allowing entry from countries with high vaccination rates and low levels of infection from the 1st of January 2022. In Phuket, a hotel industry representative has called for the relaxation of alcohol restrictions which are turning off prospective visitors from booking holidays.

 

A leading hotel and tourism industry leader in Pattaya has warned the government that many property owners are on the verge of selling out to foreign investors, particularly in China, as prospects for a recovery of foreign tourism are again receding. Mr Phisut Sae-khu of the Thai Hotels Association said such an outcome would mean a permanent, ongoing and irrecoverable loss to the wider Thai economy going forward.

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2021/09/11/pattaya-hotel-boss-warns-of-chinese-takeover/

 

-- © Copyright Thai Examiner 2021-09-11

 

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[Rookiescot]

The carpet baggers have arrived. 

[carlyai]

6 minutes ago, Rookiescot said:

The carpet baggers have arrived. 

Really only left for a short time during the latest wave. Back to China where it's Covid safe. ????

Be back in a few months.

Think I should add another million onto my Pattaya house for sale. ????

[ezzra]

That's all good my friend, China is Thailand's best buddy, didn't you know it?... Thailand is in China pocket like it or not and so far China is acting like Thailand's "big brother" so it's all good...

[nausea]

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

[smedly]

3 minutes ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

income comes from the business/company

[DirtyHarry55]

Might be related topic below.

From what I've heard China's been buying up a lot of land in company name as well.

Won't be long before Asean becomes China-ASEAN.

 

[mikebell]

1 hour ago, webfact said:

herd immunity as defined by the Thai government.

Anyone who has driven near a hospital twice in a month is immune.

[itsari]

2 hours ago, DirtyHarry55 said:

Might be related topic below.

From what I've heard China's been buying up a lot of land in company name as well.

Won't be long before Asean becomes China-ASEAN.

 

A natural development geographically . Inevitable considering the growth of the country financially over the past 40 years . 

[DrJoy]

2 hours ago, DirtyHarry55 said:

Might be related topic below.

From what I've heard China's been buying up a lot of land in company name as well.

Won't be long before Asean becomes China-ASEAN.

 

Only foreigners who own a BOI approved company can buy land (100% ownership)

 

[Nabby]

Pattaya will become Sihanoukville -a horrid Chinese hotbed of illegal activity, owned and run by them. Thailand will have to accept that it is at the same lowly level as Cambodia. 

[John Drake]

48 minutes ago, Nabby said:

Pattaya will become Sihanoukville -a horrid Chinese hotbed of illegal activity, owned and run by them. Thailand will have to accept that it is at the same lowly level as Cambodia. 

A den of corruption!  Sounds exciting!

[petedk]

3 hours ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

They have ways around that. Many luxury houses near us have been bought up by a Chinese gang,. They came around here the other day taking photos of all the houses and asked us if our house was for sale. They have Thais to manage the houses which are then rented out to Chinese people. 

 

Yes, the company buys the properties. The website of the company mentions that they have a private jet, private helicopters and yachts and luxury cars (Rolls Royce, Porche etc.). Yes, it's all true. I happen to know someone who works for them and that person posts photos of the private jet and other houses on Facebook. 

 

When they start to buy the hotels we will see an invasion of Chinese tourists

Edited September 11, 2021 by petedk

[hotchilli]

4 hours ago, webfact said:

A leading hotel and tourism industry leader in Pattaya has warned the government that many property owners are on the verge of selling out to foreign investors, particularly in China, as prospects for a recovery of foreign tourism are again receding. Mr Phisut Sae-khu of the Thai Hotels Association said such an outcome would mean a permanent, ongoing and irrecoverable loss to the wider Thai economy going forward.

I guess a little veiled scare tactic might get them somewhere.

[hotchilli]

1 hour ago, Nabby said:

Pattaya will become Sihanoukville -a horrid Chinese hotbed of illegal activity, owned and run by them. Thailand will have to accept that it is at the same lowly level as Cambodia. 

If the beach keeps eroding they might get a deep sea port to go with the town.

[sanuk711]

Does it really matter what Capitalist enterprise owns some hotels in Thailand. Most of the larger chain hotels here are foreign owned.

One family  from Maryland USA owns a chain of 32 different hotel groups, around the world. A lot of them in Thailand

  JW Marriott.-The Sheraton.-The Hyatt- The Ritz-Carlton.--...etc etc.

 

And the news yesterday that Bill Gates has brought his partner Prince al-Waleed out for $us10 billion (Four Seasons Group) and  says he will be expanding his buy up of Hotel chains especially in Asia. -Of course you buy when the conditions are best, the Chinese are just doing that --or as Baron Rothschild, said- "the time to buy is when there's blood in the streets, even if the blood is your own."

 

 

 

 

   

  

 

[robert888d]

China will gradually take over Thailand. IT is only a question of time.

[placnx]

2 hours ago, petedk said:

They have ways around that. Many luxury houses near us have been bought up by a Chinese gang,. They came around here the other day taking photos of all the houses and asked us if our house was for sale. They have Thais to manage the houses which are then rented out to Chinese people. 

 

Yes, the company buys the properties. The website of the company mentions that they have a private jet, private helicopters and yachts and luxury cars (Rolls Royce, Porche etc.). Yes, it's all true. I happen to know someone who works for them and that person posts photos of the private jet and other houses on Facebook. 

 

When they start to buy the hotels we will see an invasion of Chinese tourists

For the Thai revenue department, how will they be able to tax the income if it is collected from Chinese customers before they even enter Thailand? It's been noted before that many of these tourists add little to the local economy.

[placnx]

2 hours ago, sanuk711 said:

Does it really matter what Capitalist enterprise owns some hotels in Thailand. Most of the larger chain hotels here are foreign owned.

One family  from Maryland USA owns a chain of 32 different hotel groups, around the world. A lot of them in Thailand

  JW Marriott.-The Sheraton.-The Hyatt- The Ritz-Carlton.--...etc etc.

 

And the news yesterday that Bill Gates has brought his partner Prince al-Waleed out for $us10 billion (Four Seasons Group) and  says he will be expanding his buy up of Hotel chains especially in Asia. -Of course you buy when the conditions are best, the Chinese are just doing that --or as Baron Rothschild, said- "the time to buy is when there's blood in the streets, even if the blood is your own."

 

 

 

 

   

  

 

Actually, a lot of chains only manage, and do not own the property or buildings. What you cite is completely different from the alleged situation in Pattaya.

[CartagenaWarlock]

6 hours ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

They own land in the corporation name. Not in individual names, I would guess. 

Edited September 11, 2021 by CartagenaWarlock

[Cake Monster]

With over 700 Hotels in pattaya, a little thinning out would not go amiss.

[bang saen guy]

Now that we've been made aware how wealthy members of the RTP are, I am surprised they are not buying up these hotels.

[Taboo2]

55555....Too late.....sorry, they are already there and will never return....Learn Chinese.....they have money, lots of money.....deal with it!

[Taboo2]

6 hours ago, robert888d said:

China will gradually take over Thailand. IT is only a question of time.

China has "LT" plans for Thailand....only the Thais have no clue about what will happen to them until it is too late.

[Denim]

11 hours ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

Where there's a will there's a Wong ..............................and likely a Wang not far behind

[Leaver]

8 hours ago, Nabby said:

Pattaya will become Sihanoukville -a horrid Chinese hotbed of illegal activity, owned and run by them. Thailand will have to accept that it is at the same lowly level as Cambodia. 

 

I agree, and it has nothing to do with casinos, at this stage.

 

The Chinese will bring in their own staff, their own hookers, and have their own illegal gambling rooms.  This is on top of their own hotels, restaurants, bars, karaoke, and nightclubs.  

 

Chinese tourists will be transported to and from Thailand by Chinese airlines, and to Pattaya in their own coach buses, and to islands on their own boats.

 

All the profits from the above will be repatriated back to China.  

 

The economic devastation of covid is going to elevate zero baht tourism to a whole new level.  

[rebo]

12 hours ago, webfact said:

achieving herd immunity as defined by the Thai government.

I‘m not sure whether this is the right institution to define herd immunity.

[Stargeezr]

This is why China has not yet, gone out to invade another country with its military. China just buys 

  many assets of another country, and basically owns that other country indirectly.

   Pretty clever.  I am impressed with the Chinese military, and the fact that their spqce industry 

is very advanced as well. China will have its own version of a space station soon, as it likes its

own control, and not some other country.  A bit scary, but this is the world we live in. After all the Taliban has

taken over Afghanistan again.  Just more to think about.  Good Luck Thailand.

Geezer

[Albert Zweistein]

3 hours ago, Taboo2 said:

China has "LT" plans for Thailand....only the Thais have no clue about what will happen to them until it is too late.

Like Montenegro.

[Albert Zweistein]

8 hours ago, placnx said:

Actually, a lot of chains only manage, and do not own the property or buildings. What you cite is completely,  different from the alleged situation in Pattaya.

100 % correct, they rent the real estate.