Erawan Group announces sale of two Samui hotels to boost liquidity

[webfact]

 

By Panithan Onthaworn

 

The Erawan Group (ERW), one of Thailand’s top hospitality firms, unveiled plans to sell two of its hotels, Renaissance Koh Samui and Ibis Samui to boost liquidity.

 

Analysts on Thursday said the move will grant the firm liquidity, after the tourism industry was devastated by the knock-on effects of the pandemic.

 

“The asset sales are designed to support the long-term strategy of reshaping the hotel portfolio to focus more on the budget hotel segment,” ERW President Petch Krainukul said in a statement.

 

Full story: https://www.thaienquirer.com/34452/erawan-group-announces-sale-of-two-samui-hotels-to-boost-liquidity/

 

-- © Copyright Thai Enquirer 2021-10-28

 

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[Tropicalevo]

40 minutes ago, webfact said:

reshaping the hotel portfolio to focus more on the budget hotel segment,

But the PM does not want budget travellers.

[RichardColeman]

If the boys at the top of the hotel chains are struggling, heaven knows how any of the poorer ones that have not gone out of business yet are coping

[Pravda]

Rich In

16 minutes ago, Tropicalevo said:

But the PM does not want budget travellers.

Rich Indians will be devastated

[harada]

A familiar story, I think Evergrande are trying to “boost liquidity” right now.

[hotchilli]

When the family silver is being hawked off you know things are getting bad.

[MrJ2U]

Totally dead the last time I was next door at the JW marriott.

 

The trouble is Mai Khao beach can be notoriously dangerous to swim at. 

 

These hotels were built before the Tsunami changed the area and the underlying seabed.

 

Nice hotels but I preferred to stay at other beaches that are safer.

 

Another thing is theres not much to do around there.  Without a car your stuck at the resort.  

 

I imagine the asking price will be astronomical.

[PoorSucker]

15 hours ago, MrJ2U said:

Totally dead the last time I was next door at the JW marriott.

 

The trouble is Mai Khao beach can be notoriously dangerous to swim at. 

 

These hotels were built before the Tsunami changed the area and the underlying seabed.

 

Nice hotels but I preferred to stay at other beaches that are safer.

 

Another thing is theres not much to do around there.  Without a car your stuck at the resort.  

 

I imagine the asking price will be astronomical.

Mai Khao beach is in Phuket.

This topic is about Koh Samui.

[MrJ2U]

1 hour ago, PoorSucker said:

Mai Khao beach is in Phuket.

This topic is about Koh Samui.

Thanks for the wake-up call.

 

My apologies.