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Thai hotels on the chopping block

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Thai hotels on the chopping block





BANGKOK, 2 June 2020: Hundreds of hotels at beach resorts in Thailand are up for sale according to report in the Thai language news service Prachachat.net.


Claiming the country’s hotel business is now in free-fall due to the Covid-19 lockdown it reported that a slew of three to four-star hotels are on the chopping block as property owners run short of financial resources to service bank debts.


Most of the properties up for sale are in three main tourist provinces Phuket, Krabi and Samui. The report claims opportunist buyers from Singapore and China lead the list of foreigners who are ready to snatch up property bargains at prices that have dropped by around 50% of their pre-Covid-19 value.


Full story: https://www.ttrweekly.com/site/2020/06/thai-hotels-on-the-chopping-block/



-- © Copyright TTR Weekly 2020-06-02

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Oh goody goody, maybe the prices will be somewhere below 100 million with the 50% discount

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