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New York Times Slams Phuket's Property and Hotel Market

Category: Real estate, Posted:29 Apr 2009 | 10:38 am

The Global Section of the New York Times has published a harsh assessment of the state of play for property and hotel developments in Phuket. The article titled "Turmoil Stalls Vacation Home Boom" published on the 28th of April has referenced Shangri La, The Yamu, Four Seasons, Raimon Land's Amalfi, Lersuang and Jumeirah Private Island as either troubled or delayed projects. Even Gulu Lalvani who was quoted in the piece was decidedly downbeat on the current market.
While objectively the market is currently challenging the amount of construction activity and limited amount of developer defaults have proven the Phuket is still out trading most overseas markets. Additionally the lack of developers taking on significant leveraging which could incur defaults and possible bank repossession is not widely in effect so with flat demand the prospects of market recovery remain fundamentally solid.

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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