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NORTH AMERICAN CONDO HOTELS Outlook Bleak

Category: Real estate, Posted:18 Feb 2010 | 06:00 am

An ongoing recession and depressed property values in the United States have taken the condo hotel sector from a roar to a whimper in just a few short years. As lenders crowd the sidelines like some entourage or paparazzi at the upcoming Academy Awards, transactions are as rare as quality pictures.
Akin to stampeding cattle second homebuyers are running away from purchases where in many cases negative equity is the norm. For those looking for relief from rental yields, the hospitality led residential sector is seeing travelers move back into an already ailing hotel supply.
There continues to be cases of partly filled zombie buildings where the statutory bodies or owners associations have become insolvent so banks are looking to take in non-performing assets. It all adds up into an ugly hangover scenario where credit was king and there look to be no real short-term rainbows of recovery.

Other News

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Sandbox Vaccine. Young Turks. Hotel PR Tips

Category: Tourism, Posted:10 May 2021 | 06:00 am Hey Monday. Late last week word was that the Phuket Sandbox remains on course, despite the current outbreak. Time will of course tell, as island hotels are reeling in what is nearly a travel lockdown to Phuket. With hotel occupancies in single digits and restaurants unable to serve alcohol, business levels are hitting pandemic lows. […]
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Who’s Caesar And Phuket’s Fastest Growing Hotel Group

Category: Tourism, Posted:04 May 2021 | 06:00 am Welcome to the latest Thai Road Trip episodes from C9 Hotelworks and Delivering Asia Communications. Listen to the Executive Director of Jee Teng Hospitality talk shop and what’s next. We also get out the kitchen and into the dining room handcrafted tableside food service. Check these two now – Inside Story. A Phuket Hotel Group […]
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Sandstorm In the Sandbox

Category: Tourism, Posted:03 May 2021 | 09:39 am All eyes this week locally are on the fate of the Phuket Sandbox which remains a work in progress. The second round of local vaccinations were planned to start this week but given Thailand’s third wave it’s unclear whether the process can move on the expected timeline due to vaccinations being deployed elsewhere in needed […]