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Lux Property Fund Defaults Guaranteed Returns

Category: Hotels, Posted:12 Feb 2012 | 06:00 am

The SET (Stock Exchange of Thailand) listed LUXF property fund which owns the upscale Six Senses Hidewaya Yao Noi Resort has again defaulted on the payment of minimum returns according to public notices filed.
TMB Asset Management who is the fund manager continues to attempt to work through a situation with unit holders who have various concerns on the work out of the investment.
Within the industry there is widespread speculation that a possible takeover or unit purchase by an outside party is in the works.
The situation remains one which is closely watched by financial analysts and the press.

Other News

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Phuket’s High And Low Season Hotel Rate FOMO-Fever

Category: , Posted:23 Mar 2024 | 10:52 am So why have Phuket hotel owners and operators developed a bad case of FOMO (fear of missing out) for over more than a decade and why can’t they keep it up (rates that is)? Good insights from Jesper Palmqvist STR stat man at this week’s Phuket Hotels Association quarterly meeting. Did you realize that for […]
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Laguna Phuket Launches Garrya Beachfront Wellness Hotel Residences

Category: , Posted:23 Mar 2024 | 09:44 am The island’s largest developer Laguna Resorts and  Hotels PLC has announced a new hotel branded residences project named Garrya Phuket. The mixed-use complex is on the site of the former Quest Adventure Camp, and will have a total of 150 keys, with 38 two-bedroom residences units now for sale. With beachfront access pricing starts at […]
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Off-Beach Hotels Growing In Phuket’s Bangtao District

Category: , Posted:22 Mar 2024 | 10:30 am On the back of soaring land prices, hotel developers are now moving to inland locations in Phuket’s booming Bangtao district. In what is not being referred to as the ‘Thonglor’ area of Phuket, this area will play host to the upcoming The Standard Residences and also a branded Peri Hotel. Another new signing by Wyndham […]
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