Owners of at least 15 four- and five-star hotels in tourist cities are looking to sell their business to Chinese investors after being hard hit by the global economic crisis and the A(H1N1) flu pandemic, Industry Minister Charnchai Chairungruang said on Monday.

"Chinese investors are preparing to buy 15 or 16 four- and five-stars hotels in Thailand for 1,200-1,500 million baht each because the economic crisis and the flu have caused a sharp drop in their revenue.

''The owners of those hotels face cash flow problems. Many of them are not able to repay their due debts.''

Most of the tourist hotels in financial trouble were in Pattaya, Bangkok and Khon Kaen, said Mr Charnchai.

http://www.bangkokpost.com/news/local/1487...inese-investors

-- Bangkok Post 13/07/09

But TAT says there will be 14 million tourists visiting Thailand this year 555555555555555555555555

Owners of at least 15 four- and five-star hotels in tourist cities are looking to sell their business to Chinese investors after being hard hit by the global economic crisis and the A(H1N1) flu pandemic, Industry Minister Charnchai Chairungruang said on Monday.

"Chinese investors are preparing to buy 15 or 16 four- and five-stars hotels in Thailand for 1,200-1,500 million baht each because the economic crisis and the flu have caused a sharp drop in their revenue.

''The owners of those hotels face cash flow problems. Many of them are not able to repay their due debts.''

Most of the tourist hotels in financial trouble were in Pattaya, Bangkok and Khon Kaen, said Mr Charnchai.

http://www.bangkokpost.com/news/local/1487...inese-investors

-- Bangkok Post 13/07/09

Read the whole article and shudder!

Edited July 13, 200916 yr by hansnl

Owners of at least 15 four- and five-star hotels in tourist cities are looking to sell their business to Chinese investors after being hard hit by the global economic crisis and the A(H1N1) flu pandemic, Industry Minister Charnchai Chairungruang said on Monday.

"Chinese investors are preparing to buy 15 or 16 four- and five-stars hotels in Thailand for 1,200-1,500 million baht each because the economic crisis and the flu have caused a sharp drop in their revenue.

''The owners of those hotels face cash flow problems. Many of them are not able to repay their due debts.''

Most of the tourist hotels in financial trouble were in Pattaya, Bangkok and Khon Kaen, said Mr Charnchai.

http://www.bangkokpost.com/news/local/1487...inese-investors

-- Bangkok Post 13/07/09

Read the whole article and shudder!

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Yep!!!

China cant stick to their own country. We all know how they operate. Eat and eat and eat into another country

and change sociaty slowly slowly... starts with small business, schools etc etc.

Soon it is time for us expats to leave "China"

Glegolo

Edited July 14, 200916 yr by glegolo

China's ties with Thailand go all the way back to the founding of Modern Siam, big business, educators, politics and more all have very strong Chinese ties, many of these leaders of industry here still speak Teo Chew on a daily basis. So what's the difference?

More investment in tourism and education must surely be a good thing in times like these.

The biggest question I have though is how on earth do the Chinese intend to buy these hotels and land parcels for schools? The Chinese, like any other foreigners are subject to the same land ownership rules as everyone else, yet the government seem to be the ones promoting this as a solution to ease the owner's woes!

There is more going on here than meets the eye, and it looks as though we seeing new BOI regulations for schools and hotel ownership emerge? Currently promoted firms can own NEW hotels of at least 100 rooms, usually built in new tourist areas such as Koh Chang.

Edited July 14, 200916 yr by quiksilva