BREAKING NEWS West Sands Outrigger Hotel Project Stopped

Back of the GFC (global financial crises) the impact of which is hitting a number of the island's hotel's under development West Sands and Outrigger have agreed to part company on the planned 433 key hotel in Mai Khao. The developer has written to residential unit owners noting that within the current business environment with challenges in obtaining debt/equity and viewing falling room rates have made the hotel proposition unviable. West Sands will manage the hospitality operation consisting of condo and villa units on site , food and beverage facilities with more units planned for Phase 2. The much anticipated waterpark will open on December 20th and is looking to attract a wide scale of customers both from its report and others nearby.
Growing hotel chain Outrigger Resorts already have opened the Outrigger Serenity Terraces in Rawaii and on December 1st will see it's Outrigger Laguna Phuket Resort and Villas debut just in time for high season. Along with its existing resort in Bali, the group has a second property rising there, Vietnam and Sanya in China are also moving forward so Asia looks to be an strategic area of expansion for the group.
With now well over 40 new hotel projects in the islands pipeline it's anticipated that this will not be the only project to be canceled prior to going into the construction phase.