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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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Manic Monday. No Rain, No Rainbows

Category: Tourism, Posted:20 Sep 2021 | 14:24 pm Rainy days and Mondays are no reason to get down. We have three new Thai Road Trip episodes from C9 Hotelworks and our friends at Delivering Asia Communications for you. Have a seat, throw the umbrella out the window and take a look now. INSIDE STORY Bill Heinecke’s Phuket Resort Home Phuket Hotel Insight – […]
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After The Sandbox – Phuket Hotels Ask What’s Next?

Category: Hotels, Posted:16 Sep 2021 | 09:37 am The resort island of Phuket’s proof of concept Sandbox advantage looks to dramatically change come October. Since the first of July island hotels have experienced considerably higher occupancy levels and much-needed revenue from international arrivals. This has been Sandbox generated, and travelers, not necessarily tourists. Bangkokians fleeing the red zone situation have also aided in […]
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Remembering Florian Hallermann

Category: Hotels, Posted:16 Sep 2021 | 08:56 am We’d like to take a moment to remember Zeavola General Manager Florian Hallermann. Florian tragically died in a hiking accident in Ko Phi Phi. He was a familiar face in Greater Phuket hospitality circles for many years and well-loved in Ko Phi Phi, which was his last posting. Looking back at the start of our […]