TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Shangri-La Hotels Running from the Bears

Category: Hotels, Posted:22 Mar 2009 | 04:10 am

The listed global upscale Shangri-La chain has issued their 2008 financial results, which show a decline in net profit from US$340.9 million in 2007 to US$165.9 million in 2008. It's reporting season for many of Asia's international brands and there looks to be more talk of bears then bulls for the moment. In the 2008 Financial Results Announcement the company states "the recession in the USA, Europe and Japan and the uncertainty created by the political situation in Thailand, it is envisaged that the sentiment triggered by these developments will dampen both business and leisure travel and spending though the first half of 2009 at a minimum."
The announcement makes no specific mention of the Shangri-La <link>http://www.thephuketinsider.com/hotels/index.php*Phuket Resort</link> currently under development by an affiliate of Indonesia's PT Jan Darmadi Investindo Group and which is only under management contract to the chain. Currently work on site has slowed markedly and the residential villas for sale have been withdrawn from the market.
The site was purchased in 2005 from Hongkong and Shanghai Hotels Group who own the luxury Peninsula chain. With a site that is well situated at the northern end of Bangtao bay, near to the destination resort Laguna, the progress on the hotel has been subject to much discussion over the past few years.

Other News

Read more

Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
Read more

Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]
Read more

Just Another Sunday – Catch-Up

Category: Tourism, Posted:25 Jul 2021 | 15:08 pm It’s a great day to catch up on last week’s video sessions. Check out a replay of the special Business Insider Thailand Resort Property online event.  We also talk to a leading Thai developer on rewriting the map in Northwest Phuket, where a second resort-styled CBD is emerging and finally more on the ongoing Sandbox. […]