webfact Posted September 21, 2020 Share Posted September 21, 2020 The luxury Phuket hotel hit by a political boycott By The Nation The globally renowned Sri Panwa resort is under an unwelcome spotlight after its owner, Vorasit Issara, criticised pro-democracy protesters, who promptly hit back by calling for a boycott on his hotel. Sri Panwa is a luxury resort of private pool villas and spa located in the southwest of Phuket. The stunning scenery around the resort marks it as one of Thailand’s leading hotels. Beach Tomato UK named Sri Panwa as the most beautiful hotel in the world, while Anywhere magazine said it was the most charming, and CNN International tagged it for housing one of the world’s three best beach bars in 2011. The hotel was registered to Sri Panwa Management Ltd on July 18, 2013 with capital of Bt100 million. Despite all the praise, it made a net loss of Bt157.5 million in 2019, up on the previous year’s loss of Bt75.9 million. Vorasit Issara is a scion of the family that owns real-estate giant Charn Issara Development. Source: https://www.nationthailand.com/news/30394901 -- © Copyright The Nation Thailand 2020-09-22 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 1 Link to comment Share on other sites More sharing options...
Popular Post torturedsole Posted September 21, 2020 Popular Post Share Posted September 21, 2020 3 minutes ago, webfact said: Beach Tomato UK named Sri Panwa as the most beautiful hotel in the world, while Anywhere magazine said it was the most charming, and CNN International tagged it for housing one of the world’s three best beach bars in 2011. But it still doesn't make money and certainly won't be recovering anytime soon. That's some deep pockets that are going to need further alterations to make them much deeper. Ouch! 4 Link to comment Share on other sites More sharing options...
Popular Post donnacha Posted September 21, 2020 Popular Post Share Posted September 21, 2020 20 minutes ago, webfact said: Vorasit Issara is a scion of the family that owns real-estate giant Charn Issara Development. Yup. Guess who the junta work for. 7 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted September 21, 2020 Share Posted September 21, 2020 26 minutes ago, webfact said: Despite all the praise, it made a net loss of Bt157.5 million in 2019, up on the previous year’s loss of Bt75.9 million. In my estimation - with this year a write off - they are looking at losing something like a $16,000,000 loss over 3 years. Surely at some point a loss on 500 million baht on a 100 baht investment must be worth just walking away from 2 Link to comment Share on other sites More sharing options...
Popular Post SoilSpoil Posted September 21, 2020 Popular Post Share Posted September 21, 2020 Baba beach club, in Natai and also owned by this clan, has also been empty since January. Lot of villas for sale. They are hurt. 4 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted September 22, 2020 Popular Post Share Posted September 22, 2020 6 hours ago, webfact said: Despite all the praise, it made a net loss of Bt157.5 million in 2019, up on the previous year’s loss of Bt75.9 million. Globally renowned yet few customers? 4 Link to comment Share on other sites More sharing options...
Popular Post Deli Posted September 22, 2020 Popular Post Share Posted September 22, 2020 Just another 2nd or 3rd generation kid that never worked for the money it spends. If not backed by family or Government, bound to fail in life and business. 5 Link to comment Share on other sites More sharing options...
Caldera Posted September 22, 2020 Share Posted September 22, 2020 They already lost money well before Covid, there's really no hope regardless of any political entanglement. Just a rich heir's pet project, pretty to look at but not viable as a business. 2 Link to comment Share on other sites More sharing options...
CheelBeel Posted September 22, 2020 Share Posted September 22, 2020 7 hours ago, SoilSpoil said: Baba beach club, in Natai and also owned by this clan, has also been empty since January. Lot of villas for sale. They are hurt. good 1 1 Link to comment Share on other sites More sharing options...
daejung Posted September 22, 2020 Share Posted September 22, 2020 12 hours ago, webfact said: The globally renowned Sri Panwa resort is under an unwelcome spotlight after its owner, Vorasit Issara, criticised pro-democracy protesters, who promptly hit back by calling for a boycott on his hotel. It would be interesting to get a list of such hotels 2 Link to comment Share on other sites More sharing options...
Popular Post overt2016 Posted September 22, 2020 Popular Post Share Posted September 22, 2020 What ever it is the foul mouthed owner needs to garner some respect of others. Personally I hope he suffers. 3 1 Link to comment Share on other sites More sharing options...
ChipButty Posted September 23, 2020 Share Posted September 23, 2020 Not an easy place to get to, Build it and they will come, no worries guys I'll take it over big discounts for TV members Link to comment Share on other sites More sharing options...
xylophone Posted September 23, 2020 Share Posted September 23, 2020 On 9/22/2020 at 9:13 AM, hotchilli said: Globally renowned yet few customers? Just about an oxymoron hc! 1 Link to comment Share on other sites More sharing options...
pagallim Posted September 23, 2020 Share Posted September 23, 2020 I remember when I first moved here 13 years ago, when you left the airport and got to the Thepkassatri junction, there was a huge billboard with a photo of Gordon Ramsey recommending the restaurant at Sri Panwa. I've actually eaten there a few times, and their core customer base are Bangkok hi-so's and celebrities. Very, very few farang tourists stay there. It's also a favourite weekend destination for members of the Royal family who usually helicopter in to the nearby naval base. Not without some irony that the Thais that do use the place are the very people least likely to take up the cause of those demonstrating let alone would contemplate boycotting the place. Another lesser known fact, the Thai Government's Social Security investment fund is a major investor in Sri Panwa. Given it's lack of profitability even in the best of years, one wonders the criteria used in its selection, however I'm sure that several free holidays a year (strictly on the basis of auditing the investment of course) is great leverage. 1 Link to comment Share on other sites More sharing options...
rkidlad Posted September 24, 2020 Share Posted September 24, 2020 On 9/22/2020 at 2:50 AM, webfact said: The globally renowned Sri Panwa resort is under an unwelcome spotlight after its owner, Vorasit Issara, criticised pro-democracy protesters Link to comment Share on other sites More sharing options...
donmuang2 Posted September 25, 2020 Share Posted September 25, 2020 Quote Sri Panwa is a luxury resort of private pool villas and spa located in the southwest of Phuket. Last time I have been there, Cape Panwa was in the southeast. 2 Link to comment Share on other sites More sharing options...
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