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Irish Doomsday Hotel Oversupply Offers Thailand Lessons

Category: Hotels, Posted:28 Nov 2009 | 07:32 am

A new report coordinated by the Irish Hotels Federation has recommended the closure of 25% or 15,000 of the countries hotel rooms due to a staggering oversupply situation. Back of an economic boom situation during much of this decade which featured significant tax breaks for developers, the end result is project's which are not economically realistic nor can they sustain the high debt ratios from over leveraging.
With current market wide occupancies in the mid 50% region, the industry is at great peril unless some dramatic reforms are adopted. The legacy of easy financing has resulted in many properties now operating with negative equity, meaning the value of the property is less then the debt owed on it.
Certainly this lesson is one that can easily be applied across the board in many counties in Asia including Thailand where banks continue to fund new hotel projects in market which are well past saturation and over the next decade the possibility of oversupply is a real and present danger to the overall health of hotel grade assets.

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Mind the Gap – Keep People Inspired Event in November

Category: Hotels|Tourism, Posted:22 Oct 2022 | 08:50 am Keep People Inspired (KPI) is the second in a series of Mind the Gap Learning events. The focus of the event is on inclusiveness in hospitality, spanning Phuket’s hotels, tourism and service industries. Inclusiveness is a key element of businesses that rely heavily on human resources and is in effect all about people, whether they […]
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Japanese Luxury Brand Hoshinoya Heads To Niseko

Category: Hotels|Real estate, Posted:14 Oct 2022 | 17:42 pm Leading Japanese hotel operator Hoshino has inked a deal for a luxury resort in Niseko with developer Zekkei Properties. Located in a prime ski-in and ski-out location in Upper Hirafu Village, the 62-unit hotel and residence property will be named Hoshinoya Lodge Niseko. With one of Hirafu’s best locations, the site was formerly occupied by […]
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Phuket and Beyond, A Brief Friday Hotel Update

Category: Hotels, Posted:14 Oct 2022 | 10:24 am In Phuket, Wyndham Vacation Resorts has signed a deal to manage the 50-key Zenmaya Oceanfront in Kalim. The property will be under the Trademark Collection by Wyndham. There are synergies for the hotel given it is located across a main coastal road from the Wyndham Grand Phuket Kalim Bay. Regional carrier Myanmar Airways International (MAI) […]
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