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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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Koh Samui To Follow Phuket In International Reopening

Category: Tourism, Posted:19 Jun 2021 | 16:29 pm Leading tourism news out of Thailand has the government’s CCSA (Centre for Covid-19 Situation Administration approve in principal a plan to open a sealed route to Samui in mid-July. The plan covers the three islands of Koh Samui, Koh Tao and Koh Phangan and would require travelers to first stay in an ASQ hotel for […]
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Thailand’s Sandbox Is Not A Quarantine

Category: Tourism, Posted:12 Jun 2021 | 10:45 am As we are 19 days away from Thailand’s Sandbox tourism reopening in Phuket, there continues to be a misunderstanding of the overall rules and the term quarantine is incorrectly used. Quarantine by definition is isolation, whereby Sandbox travelers will be able to move throughout their hotel, visit beaches, restaurants, shops etc. Remember Phuket is about […]
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C9 Hotelworks Releases New Krabi Report

Category: Hotels, Posted:07 Jun 2021 | 06:00 am Comparing major Southern Thai resort destinations, Krabi is one that historically balances well between the international and domestic markets. In the new Krabi Hotel Market Update from C9 Hotelworks, we take a look back at pre-Covid trading to examine from what point hoteliers hope tourism will upcycle towards recovery and what will the trends be. […]