Draft bill to lure hotel investors to register properties
SUCHAT SRITAMA
THE NATION

BANGKOK: -- A REVISED draft registration is goading foreign investors into turning small independent hotels into registered inns.

"Investors from Singapore have already obtained the details of the revised hotel registration draft bill that has been approved by the Cabinet. Several firms are talking on the takeover process," a source at the Thai Hotels Association (THA) said.

Investors from Singapore, Hong Kong, mainland China and Malaysia have expressed interest in acquiring small and independent hotels in Bangkok and tourist cities like Phuket and Pattaya, the source said.

Investors contacted the association shortly after the approval of the draft ministerial regulation that allows type A and B hotels, mostly claiming to be small and operated by families, to register as hotels.

Singapore-based Amara has launched the first Amara in Bangkok in Surawong.

Investors from Hong Kong, Malaysia and mainland China are studying the draft. They are probably also interested in properties and residences.

"Once the draft revised hotel registration spread to the public, we received calls and requests for appointments from foreign investors, asking for the opportunity to buy existing hotels," the source said.

Another representative of the THA said some big local hotel chains were also interested in taking over existing hotels but probably silently.

So far type C and D hotels that are claimed as big properties have had no problem with hotel and building laws as many of them are managed by international companies or big local hotel chains.

The Cabinet approved a revised draft regulation on the use of old buildings as part of the revision of land and building regulations and usage. The law is expected to be enforced soon.

Existing non-registered hotels and resorts - those that never met hotel standards - now can register as hotels according to the law.

Based on hotel booking site www.agoda.com, THA has revealed that 4,876 hotels with 168,929 rooms in six major tourist destinations across the country are operating illegally against 772 registered hotels.

Since the Cabinet approved the draft, THA has invited non-registered hotels in Hua Hin to get a hotel licence.

It plans to run similar campaigns in other destinations including Bangkok in a bid to reduce illegal hotels, which could bring fear of poor standards and services as well as the overall quality of hotels and safety.

According to Jones Lang LaSalle, Phuket will continue to see solid growth in supply this year with 1,778 hotel rooms planned for completion. Growth in demand is expected to |keep pace, so the market outlook remains |encouraging, although challenging in the short term. Phuket's stock of branded hotels and resorts is 47,000 rooms, of which 1,420 were added last year.

The resort island is scheduled for 1,780 and 1,750 more rooms this and next year.

Source: http://www.nationmultimedia.com/business/Draft-bill-to-lure-hotel-investors-to-register-pro-30257538.html


-- The Nation 2015-04-07

Lure has a sharp end in it. I wonder why it was used in the Title of this Thread?

i receive a W-9 tax paper in the mail every year to declare investments and taxes. What to much postage to send to investors or to much kick back?

More luring,it never seems to stop.