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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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C9 Hotelworks Releases Mid-Year Phuket Hotel Market 2023

Category: Hotels|Tourism, Posted:10 Sep 2023 | 15:42 pm In the first half of 2023, Phuket experienced a resurgence, signaling a promising path toward recovery. International and domestic flights both saw significant increases, accounting for 75% of the total flights in 2022. Airlines and travelers alike are eager to reengage with Phuket’s offerings. In terms of passenger arrivals, the first half of 2023 displayed […]
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The Green Minute – PHIST 2023

Category: Hotels, Posted:10 Sep 2023 | 14:11 pm For those of you who missed PHIST 2023 and those of you who did attend, please find a selection of video short Green Minutes from the event. Sustainability has to be a priority for the hotel and travel sectors and hopefully the ideas and messages here, give you your own inspiration to go green. PHIST […]
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TG’s Big Birds Set To Fly Phuket Bangkok Route Again

Category: Tourism, Posted:08 Sep 2023 | 16:14 pm One good indication of Phuket’s return to tourism recovery is airlift growth. Making news this week is Thai Airways International’s reported resumption of service on the high-traffic Phuket Bangkok route. The airline will start a once-daily right on 1st October 2023. Thai Smile (WE) will still operate other flights til the end of November when […]
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